Theodore Antonucci, Jr. was sentenced to four years in prison followed by three years supervised release and was ordered to pay $931,558 in restitution in connection with his conviction for participation in a flipping scheme. Antonucci was chargedcharged by information and pled guilty to one count of conspiracy to commit bank fraud in connection with a mortgage fraud scheme that operated from August 1, 2000 to October 5, 2000 in New York.
According to the information, Antonucci conspired with Maggio and others to defraud The Provident Bank. The plea agreement further states that Antonucci sold property located at 318-320 Brooks Avenue, Rochester, New York to Maggio and assisted Maggio in obtaining a $63,000 mortgage from Provident Bank. He assisted Maggio by submitting false documents including an application containing false information as to Maggio’s employment and income, a false employment verification, false earnings statements, false investment statements and a false W-2. Maggio defaulted on the loan and the bank foreclosed on the property, suffering a loss. The plea agreement recites that the total loss was in excess of $800,000.
Joseph Maggio previously pled guilty and was sentenced to five years probation.
