Man Charged with Misappropriating Funds Intended for Financing

Allison Tussey —  August 22, 2014 — Leave a comment

John Paul Donico, 65, Erie, Pennsylvania, is the subject of an eight-count indictment for his alleged role in fraudulently obtaining $350,000 from a construction company by promising to obtain financing, which he never obtained.

According to the indictment presented to the court, from in and around May 2011, to in and around July 2012, Donico fraudulently obtained $350,000 from a Mexican construction company by promising to obtain financing for the construction of a rock crushing plant which he never obtained.

The law provides for a maximum total sentence of 160 years in prison, a fine of $2,000,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.

United States Attorney David J. Hickton announced the charges.

Assistant United States Attorney Christian A. Trabold is prosecuting this case on behalf of the government.

The Federal Bureau of Investigation conducted the investigation leading to the indictment in this case.

 

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