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PLUMBING COMPANY PRESIDENT FACES FEDERAL CHARGE

 PLUMBING COMPANY PRESIDENT FACES FEDERAL CHARGE
 BOSTON, Oct. 30 /PRNewswire/ -- A Newton Highlands company president


faces a federal wire fraud charge stemming from allegations that he defrauded a subsidiary of Marine Midland Inc., of over $1 million.
 U.S. Attorney A. John Pappalardo announced today that an information has been filed in U.S. District Court against Jerome Silverman of 228 Allendale Road in Brookline. The information charges Silverman with engaging in a scheme to defraud Marine Midland Business Loan, Inc. (MMBLI). MMBLI had entered into a loan agreement with Silverman's company, A.J. Felz Inc., a wholesale plumbing supply business located at 56 Ramsdell Road, Newton Highlands.
 The information alleges that Silverman, as president, treasurer and clerk of Felz, fraudulently induced MMBLI to advance funds into the corporate account by use of false invoices and false inventory. It is further alleged that Silverman would inflate those invoice and inventory figures, thereby inducing MMBLI to advance more money than Felz was entitled to under the loan agreement.
 The wire fraud count carries a maximum penalty of five years' imprisonment and/or a fine of up to $1,000.
 The case was investigated by the Federal Bureau of Investigation and is being prosecuted by Assistant U.S. Attorney Nadine Pellegrini of Pappalardo's Economic Crimes Unit.
 -0- 10/30/92
 /CONTACT: Press Officer, U.S. Attorney's Office, 617-223-9445/ CO: ST: Massachusetts IN: SU:


CN -- NE017 -- 7378 10/30/92 18:17 EST
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Date:Oct 30, 1992
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