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Atlantic City Man Sentenced for Conspiring in $14M Fraud Scheme
CAMDEN, N.J. – John Parisi, a 54-year-old Atlantic City man, was sentenced today to 30 months in prison for assisting members and associates of an organized crime family in a fraud scheme that involved a Texas-based financial services company, FirstPlus Financial Group Inc. (FPFG).
Parisi pleaded guilty before U.S. District Judge Robert B. Kugler to conspiring to defraud FPFG, which was targeted for extortionate takeover and looting by a group led by Nicodemo S. Scarfo, an alleged member of the Lucchese La Cosa Nostra (LCN) crime family.
As part of the scheme, Parisi managed a family trust and a limited liability company on behalf of Scarfo and admitted to directing him in the use of various bank accounts through which Scarfo received hundreds of thousands of dollars between July 2007 and April 2008.
The money involved proceeds of the fraud that Scarfo allegedly received as part of a fraudulent “consulting” agreement between his shell company, Learned Associates, and one controlled by Salvatore Pelullo, an alleged associate of the Lucchese and Philadelphia LCN families.
Parisi also admitted to assisting Scarfo and his then-fiancée, Lisa Marie Scarfo, in obtaining a mortgage for a $715,000 house in Egg Harbor Township, New Jersey, that the Scarfos intended to purchase. Lisa Marie Scarfo pleaded guilty on Sept. 17, 2013, to a conspiracy to make a false mortgage loan application in connection with the purchase of the Egg Harbor Township house.
Parisi was also ordered to pay $14 million in restitution and will serve two years of supervised release after his prison term. U.S. Attorney Paul J. Fishman credited special agents of the FBI in Newark with the investigation leading to today’s sentencing.
Scarfo and Pelullo were previously sentenced to 30 years in prison, and William and John Maxwell were previously sentenced to 20 and 10 years in prison, respectively, for their roles in the racketeering conspiracy.
Key Facts
- State: New Jersey
- Category: White Collar Crime|Organized Crime|Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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