Anthony J. Staph Jr., 42, New Castle, Pennsylvania, was indicted by a Pennsylvania Grand Jury and charged with Bank Fraud.

The indictment alleges that Staph participated in a Bank Fraud Scheme involving Affordable Housing of Lawrence County, Inc. and First Commonwealth Bank. It is alleged that participants in the bank fraud scheme arranged for Affordable Housing of Lawrence County to purchase seven properties at prices in excess of their fair market values, and that Affordable Housing of Lawrence County applied for a loan from First Commonwealth Bank to purchase the properties. It is further alleged that Staph prepared fraudulent appraisals of the seven properties that were to serve as collateral for Affordable Housing of Lawrence County’s loan from First Commonwealth Bank. It is alleged that the appraisals were fraudulent in that they overstated the fair market value of the properties, misrepresented the condition of the properties, and falsely represented that the properties were occupied.

In a separate but related charge, the United States Attorney filed a one-count Information charging Gary F. Felasco, Jr., 41, Warren, Pennsylvania, with willfully failing to file his 2005 income tax returns.