Granite Grifter: Occhipinti Indicted in $1M Investor Scam

MENTOR, OH – Carmen Occhipinti, 66, of Mentor, Ohio, is facing a 17-count federal indictment after allegedly swindling investors out of more than $1 million through a complex scheme involving several granite businesses, authorities announced today. Occhipinti was arrested and charged with four counts of wire fraud, seven counts of bank fraud, one count of witness tampering, three counts of tax evasion, and two counts of money laundering.

According to the indictment, Occhipinti operated a network of companies – including Marble Tiles of Italy, Marble and Tile Company of Italy, Brunello Marble & Granite, Carrara Bricks & Blocks Company, Granite and Tile Imports, Bella Cucina Granite and Portofino Marble Tile – all purportedly importing and selling granite. But instead of legitimate business, the feds say it was a carefully constructed house of cards built on lies.

“This defendant purported to sell granite, but he really built a financial house of cards by stealing more than $1 million from others,” stated Steven M. Dettelbach, United States Attorney for the Northern District of Ohio. “His victims were real people, some of whom were forced into bankruptcy. We’re committed to pursuing justice on their behalf.” The scheme ran from 2006 through April 2014, with Occhipinti allegedly misrepresenting how investor funds would be used.

The indictment details how Occhipinti lured investors with false promises, claiming their money would be used to purchase granite materials. In reality, the funds were diverted to enrich himself, pay off previous investors (at his discretion), and cover personal expenses – including lavish spending at Peak and Peak Resort, Mountaineer Casino, and Lee Jewelers. Despite some investors receiving minimal returns, the total out-of-pocket loss to defrauded parties exceeds $1 million, forcing some into bankruptcy.

Occhipinti reportedly exploited relationships within religious organizations, business circles, and social groups to gain trust and attract investors. He falsely claimed his companies imported materials from Italy, Brazil, and Canada, when, in fact, no such imports ever occurred. Kathy Enstrom, Special Agent in Charge of the Internal Revenue Service’s Cincinnati Field Office, emphasized the IRS’s commitment to pursuing individuals who deceive others for personal gain, stating, “Individuals who create elaborate schemes that have no purpose other than to deceive…and defraud the IRS run the very high risk of prosecution.”

The case was presented by Assistant U.S. Attorney Christos N. Georgalis following an investigation by IRS Criminal Investigations agents and U.S. Postal Inspectors. While an indictment represents a serious charge, it’s crucial to remember that Occhipinti is presumed innocent until proven guilty beyond a reasonable doubt in a court of law. The sentencing, if convicted, will be determined by the court based on the specifics of the case and Occhipinti’s criminal history, but will not exceed statutory maximums.