Salvatore Letizia, 40, of Buffalo, NY, is headed to federal prison after being sentenced to 41 months for wire fraud and tax evasion. The conviction, handed down by U.S. District Judge Richard J. Arcara, caps a years-long scheme that left four victims out more than $360,000.
Between 2005 and 2009, Letizia spun a web of lies, peddling fake business ventures to lure victims into handing over cash and credit lines. He pitched high-return investments that never existed—shell projects built on deception. Once the money flowed in, Letizia diverted every dollar to fund his personal lifestyle, leaving investors stranded and broke.
Assistant U.S. Attorney Frank T. Pimentel, who prosecuted the case, laid bare the fraud: false promises, forged documents, and total financial manipulation. The victims trusted Letizia with their savings. He repaid that trust by vanishing with their money, leaving behind a trail of broken deals and unpaid debts.
But the crime didn’t stop at theft. Letizia also vanished from the IRS. For five straight years—2005 through 2009—he failed to file a single tax return, deliberately hiding the illicit income generated by his fraud. The U.S. Attorney’s Office emphasized that tax evasion was not an oversight—it was part of the cover-up.
The takedown was a joint operation between the Federal Bureau of Investigation, under Special Agent in Charge Adam S. Cohen of the Niagara Field Office, and IRS Criminal Investigation, led by Special Agent in Charge Shantelle P. Kitchen. Their investigation peeled back layers of financial deceit, matching wire transfers to lies and linking Letizia directly to the fraud.
Acting U.S. Attorney James P. Kennedy, Jr. confirmed the sentence as a message: fraud and tax evasion carry steep consequences. Letizia now faces over three years behind bars, but the damage to his victims may last a lifetime. The case underscores how white collar crimes rip through communities—quietly, legally, and with lasting pain.
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Key Facts
- State: New York
- Agency: DOJ USAO
- Category: Fraud & Financial Crimes
- Source: Official Source ↗
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