New York man convicted of $ 1.1 million bank loan and credit card fraud

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A former Long Island business owner was convicted of approximately $ 1.1 million in connection with a fraud scheme involving banks, business partners and a customer.

Marcello Sozio, 65, of Huntington, was sentenced to 36 months in prison for wire fraud on Thursday, October 14, according to a statement from the U.S. Attorney’s Office for the eastern borough of New York.

He was also asked to pay the victims approximately $ 1.1 million in decay and reparation.

“Today the defendant was rightly convicted of the financial damage he caused by defrauding his business partners and lenders and stealing a young patient’s parents,” said Acting US Attorney for the Eastern District, Jacquelyn Kasulis. “Working with its law enforcement partners, this agency will continue to seek redress for victims and prosecute defendants such as Socio who commit fraud out of greed for their own financial gain.”

Sozio operated a hyperbaric oxygen chamber company based in Great Neck, New York and Chicago, the US Attorney’s Office said.

Kasulis said Socio received approximately $ 770,000 in loans for his company between March 2014 and December 2016, falsely claiming that business partners authorized him to apply for loans on their behalf.

The US prosecutor reported that he forged their signatures on loan documents and pretended to be a business partner during a phone call with a lender.

In addition, between September 2016 and December 2016 it caused “approximately $ 230,000 in credit card charges to the parents of an underage patient for services allegedly provided for medical reasons in a socio-operated Great Neck facility.”

However, Kasulis said Socio did not provide these services in exchange for the billing.

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