Chad M. Stellato, Wire Fraud, Ohio 2021
A Pennsylvania man has pleaded guilty to leading a tile fraud ring that swindled a home improvement store out of nearly half a million dollars.
Chad M. Stellato, 47, of Langhorne, Pennsylvania, entered a plea of guilty to an information charging him with one count of conspiracy to commit wire fraud and six counts of wire fraud.
Between January 2013 and January 2016, Stellato provided the funding for his co-conspirators to purchase large quantities of tile at Lowe’s store locations.
The co-conspirators would conceal the higher-priced tile underneath lower-priced tile and purchase all the tile at the lower price. They would then return the tile, without a receipt, for a full refund placed on a Lowe’s stored value card.
Stellato and his co-conspirators received more money in refunds from the returned boxes of tile than what they actually paid to purchase the tile. They are accused of defrauding Lowe’s of approximately $444,000.
Stellato is scheduled to be sentenced on April 1, 2021, before U.S. District Court Judge James S. Gwin. The investigation preceding the indictment was conducted by the United States Secret Service and the Ohio State Highway Patrol. This case is being prosecuted by Assistant U.S. Attorney Brendan D. O’Shea.
Key Facts
- State: Ohio
- Category: White Collar Crime
- Source: DOJ Press Release â†â€â€
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Source: https://www.justice.gov/usao-ndoh/pr/pennsylvania-man-pleads-guilty-leading-tile-fraud-ring