A Pittsburgh-area man has admitted to defrauding prospective home builders and investors out of nearly $25,000.
Thomas Slack, 67, of Oakdale, Pa., pleaded guilty in federal court to a charge of wire fraud, announced United States Attorney David J. Hickton.
The scheme, which occurred in the Allegheny County area, involved Slack falsely representing himself as an associate of the United States Department of Agriculture’s Rural Development loan programs.
Slack claimed he could underwrite and pre-qualify applicants for the loan programs, inducing prospective home builders and investors to send him approximately $24,425.
In reality, Slack was not actively engaged in building homes or securing financing through the USDA.
Slack’s false representations were made through his role as a member and director of the Great Falls Development Group, a company that purported to be an established residential real estate developer and builder.
Assistant United States Attorney Robert S. Cessar is prosecuting the case on behalf of the government, with assistance from the United States Department of Agriculture Office of the Inspector General.
The law provides for a maximum total sentence of 20 years in prison, a fine of $250,000, or both for wire fraud.
Judge Arthur J. Schwab scheduled sentencing for December 16, 2016, at 9 a.m.
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Key Facts
- State: Pennsylvania
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
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