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East Aurora Man Sentenced for Money Laundering Scheme
BUFFALO, N.Y.– John Sorrentino, 46, of East Aurora, N.Y., has been sentenced to 31 months in prison for his role in a brazen money laundering scheme that spanned multiple states.
According to court documents, Sorrentino used a series of fraudulent loan applications to induce five banks in Arizona and Western New York into lending him large sums of money. The defendant then funneled the proceeds from the illicit loans into a down payment for the purchase of a home in East Aurora.
As part of his plea, Sorrentino’s home in East Aurora will be forfeited to the Government, along with the computers used to facilitate the unlawful activity and a truck purchased with illegally obtained funds.
Assistant U.S. Attorney Maura K. O’Donnell, who handled the case, stated that Sorrentino provided false information regarding his salary, employer, and address in order to secure the mortgage for the property in East Aurora.
The investigation into Sorrentino’s activities was led by Special Agents of the Secret Service, under the direction of Special Agent in Charge Tracy Gast. The case is part of President Barack Obama’s Financial Fraud Enforcement Task Force, which aims to investigate and prosecute financial crimes across the country.
The Financial Fraud Enforcement Task Force is a collaboration between federal agencies, regulatory authorities, and state and local law enforcement. The task force is working to improve efforts to investigate and prosecute significant financial crimes, ensure just and effective punishment for those who perpetrate financial crimes, and recover proceeds for victims.
Sorrentino’s sentence sends a clear message to those who would seek to exploit our financial system for personal gain. The people of New York will not tolerate such brazen acts of financial deception, and we will continue to work tirelessly to bring those responsible to justice.
RELATED: East Aurora Man Pleads Guilty to Child Pornography
RELATED: East Aurora Man Pleads Guilty to Child Pornography Receipt
Key Facts
- State: New York
- Category: Fraud & Financial Crimes|White Collar Crime
- Source: DOJ Press Release ↗
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