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Walter Stanzione, age 65 of East Meadow, faced his indictment alongside his business partner, William Neogra, on Thursday, Nov. 30, according to the United States Attorney’s Office Eastern District of New York.
Stanzione and Neogra, age 63 of Delaware, together controlled a company called Fire Alarm Electrical Corporation, which was contracted with agencies to repair and maintain fire alarm systems throughout New York City.
However, the indictment alleges that the pair overbilled said agencies for more than a decade.
Stanzione and Neogra would submit falsified invoices with prices that were massively inflated.
Among those invoices included modified or altered documents from legitimate retailers and invoices from shell companies that the two men owned and had control over, according to the US Attorney’s Office.
The total estimated amount of what Stanzione and Neogra took home has not been made public.
“Their alleged crimes milked the city of valuable resources,” said James Smith, FBI Assistant Director-in-Charge.
“They got used to getting paid more for less, but today it caught up to them.”
Stanzione and Neogra, who were charged with wire fraud conspiracy, were scheduled to be arraigned on Thursday, Nov. 30. ‘
They each face a maximum sentence of 20 years behind bars.
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