A Monroe County man has been charged with filing false documents related to taking over $1 million from pension funds, according to a recent indictment. Charles A. Poalillo, Jr., 80, the former owner of Penn Hills Lodge, Inc., a Pocono honeymoon resort located in Analomink, Pennsylvania, is accused of borrowing approximately $1 million from two pension funds while operating his businesses.
Poalillo allegedly falsely reported the security of these assets to the United States Department of Labor. Pursuant to a guilty plea agreement filed with the Information, Poalillo is agreeing to attempt to make full restitution by the time of sentencing.
The United States Attorney’s Office for the Middle District of Pennsylvania announced the filing of an Information charging Poalillo with one count of false statements and representations to the United States Department of Labor. According to United States Attorney Peter J. Smith, Poalillo’s actions were a serious breach of trust.
The investigation was conducted by the United States Department of Labor’s Employee Benefits Security Administration and the Department of Labor’s Office of Inspector General, Office of Labor Racketeering and Fraud Investigations, with assistance from the Monroe County District Attorney’s Office.
Prosecution is assigned to Assistant United States Attorney Michael A. Consiglio. Indictments and Criminal Informations are only allegations, and all persons charged are presumed to be innocent unless and until found guilty in court.
A sentence following a finding of guilty is imposed by the Judge after consideration of the applicable federal sentencing statutes and the Federal Sentencing Guidelines. In these particular cases, the maximum penalty under the federal statute is five years of imprisonment and a term of supervised release following imprisonment and a fine.
Poalillo’s case highlights the importance of accountability in business dealings, particularly when it comes to pension funds. The United States Department of Labor’s efforts to protect workers’ benefits are crucial in preventing similar cases from arising in the future.
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Key Facts
- State: Pennsylvania
- Category: White Collar Crime
- Source: DOJ Press Release ↗
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