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Rensselaer County resident John Paeglow, age 65, of Troy, was sentenced to three years of supervised release and 100 hours of community service Wednesday, July 20, in federal court in Albany after pleading guilty to charges of wire fraud.
Prosecutors said that between October and December 2014, Paeglow fraudulently solicited and received more than $400,000 for his business, Integrated Book Technology/Hamilton Printing, located in Castleton-on-Hudson.
He did so by submitting fake invoices and shipping documents to the New Jersey-based finance company in order to receive money for the sale of books that were never sold or shipped, prosecutors said.
In addition to his supervised released and community service, a judge ordered Paeglow to pay $220,000 in restitution to the finance company.
He must also pay a further $11,410 to reimburse the union that represented his company’s employees, whose health care premiums Paeglow was also charged with embezzling.
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