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Bank Loan Fraud

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Long Island Man Admits To $1M Bank Loan, Credit Card Fraud Schemes Long Island Man Admits To $1M Bank Loan, Credit Card Fraud Schemes
Long Island Man Admits To $1M Bank Loan, Credit Card Fraud Schemes A Long Island man who was operating a hyperbaric oxygen chamber business in Great Neck has admitted to a million-dollar bank loan and credit card fraud scheme involving a parent and child. Marcello Sozio, 62, of Huntington, will face up to 20 years in prison after pleading guilty in Central Islip federal court to wire fraud in connection with a scheme to defraud banks and a customer of his business. As part of his plea, Sozio also agreed to pay approximately $1.1 million in restitution, U.S. Attorney Richard Donoghue announced. Between March 2014 and December 2016, Sozio applied for and ob…

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by Zak Failla