Scott P. Winovich, 43, Mars, Pennsylvania, pleaded guilty in federal court to charges of Bank Fraud and Tax Evasion announced United States Attorney Mary Beth Buchanan. In connection with the guilty plea, Assistant United States Attorney Brendan T. Conway advised the court that Winovich, in association with a real estate business that he owned, obtained millions of dollars of loans through a numerous financial institutions through fraud. Typically the loans were to purchase multi-unit rental facilities, and the loan applications contained numerous misrepresentations, including misrepresentations related to the condition, value and rental status of the buildings, and related to Winovich’s income, assets and liabilities. According to his plea agreement, Winovich agrees to cooperate with prosecutors.

Judge Ambrose scheduled sentencing for December 18, 2007 at 11:30 a.m. The law provides for a total sentence of thirty-five years in prison, a fine of $1,250,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed is based upon the seriousness of the offenses and the criminal history, if any, of the defendant.

The Federal Bureau of Investigation and the Internal Revenue Service, Criminal Investigation conducted the investigation that led to the prosecution of Winovich.