Two Charged In Fraud Scheme
PITTSBURGH, Pa. ‑ Two residents of Westmoreland County, Pa., have been indicted by a federal grand jury in Pittsburgh on charges of conspiracy, making false statements in an application for a loan, and wire fraud, United States Attorney David J. Hickton announced today.
The five‑count indictment, returned on May 17, 2011, named James Michael Conde, 63, of Jeannette, Pa., and Thomas Lee Kemerer, 63, of Greensburg, Pa., as the sole defendants.
According to the indictment, during 2003, Conde and Kemerer made false statements in connection with their applications for a $1 million loan from Sky Bank and a $400,000 loan from K & K Company. The indictment further alleges that the loans were supposed to be obtained for use in a business known as Precision Powdercoating & Graphics, but that Conde and Kemerer used some of the loan proceeds for their own living expenses and personal debts.
The law provides for a maximum total sentence of 105 years in prison, a fine of $2,000,000, or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offenses and the prior criminal history, if any, of the defendant.
Assistant United States Attorney Shaun E. Sweeney is prosecuting this case on behalf of the government.
The United States Postal Inspection Service conducted the investigation leading to the indictment in this case.
An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.