SUPERSEDING INDICTMENT RETURNED AGAINST THE NOW DEFUNCT COMPANY UNITED STATES FUNDING, INC. OF AMERICA.
SUPERSEDING INDICTMENT RETURNED AGAINST THE NOW DEFUNCT COMPANY UNITED STATES FUNDING, INC. OF AMERICA. BOSTON, Oct., 28 /PRNewswire/ -- U.S. Attorney A. John Pappalardo today announced the return of a superseding indictment by the federal grand jury investigating the fraudulent activities of the now defunct company United States Funding, Inc. of America, formerly of South Weymouth, Mass. Pappalardo stated that the superseding indictment essentially tracks the allegations contained in the original indictment returned on April 15, 1992. He added, however, that there are several differences between the two indictments. First, the superseding indictment does not name as defendants those individuals who have already entered guilty pleas to the original indictment. These include Edward Lopes, Eleana Charnitsky, Robert Brinkmann and Richard Goodwin. The superseding indictment also charges defendant Vincent Nardo, a certified public accountant, with a substantive count of bank fraud in addition to the conspiracy count with which he was charged in the original indictment. The substantive bank fraud charge alleges that Nardo, along with co-defendants Guy J. Scarpaci and Joseph L. Mcleish, prepared and caused to be submitted to Boston Trade Bank false financial statements in connection with a $25,000 line of credit obtained from the bank by U.S. Funding in 1988. Nardo faces a maximum penalty of 5 years imprisonment and a $250,000 fine if convicted of this new charge. Lastly, Mr. Pappalardo indicated that the superseding indictment adds a new defendant, Robert M. Gawlowicz, age 57, of Pembroke, Mass. The indictment alleges that GAwlowicz was an employee and agent of U.S. Funding whose responsibilities included performing and reviewing appraisals of property in connection with mortgage loans brokered and/or sold on the secondary market by U.S. Funding. The indictment further alleges that Gawlowicz knowingly participated in the fraudulent scheme charged in the indictment, by preparing phoney appraisals which artificially inflated the values of various properties on which mortgage loans were granted. Gawlowicz is charged with one count of conspiracy to commit mail, wire and bank fraud; 35 substantive counts of wire fraud, 20 substantive counts of bank fraud and 1 substantive count of mail fraud. Gawlowicz faces a maximum penalty of 5 years imprisonment and at $250,000 fine on each of the conspiracy, mail fraud and wire fraud charges. On each of the bank fraud counts involving fraudulent activities occurring prior to Aug. 9, 1989, Gawlowicz faces a maximum penalty of 5 years imprisonment and a $250,000 fine; on those bank fraud counts occurring after Aug. 9, 1989, Gawlowicz faces a maximum penalty of 20 years imprisonment and a $1 million fine. The investigation leading to this prosecution was conducted jointly by the Massachusetts State Police, the Federal Bureau of Investigation and the U.S. Postal Inspection Service, with assistance from the Office of the Massachusetts State Auditor. This case is being prosecuted cooperatively by the Office of the Norfolk County District Attorney and the U.S. Attorney, and is being handled by Assistant Norfolk District Attorney and Special Assistant U.S. Attorney Dennis C. Mahoney and Assistant U.S. Attorney Robert J. Lynn. -0- 10/28/92 /CONTACT: Press Officer, U.S. Attorney's Office, 617-223-9445/ CO: ST: Massachusetts IN: SU:
TM -- NE016 -- 6268 10/28/92 17:15 EST
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|Date:||Oct 28, 1992|
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