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Press Release

Mississippi Man Charged with Conspiracy to Commit Bank Fraud

For Immediate Release
U.S. Attorney's Office, Eastern District of Louisiana

NEW ORLEANS –  U.S. Attorney Duane A. Evans announced that JOHN SPOSATO, age 72, a resident of Kiln, Mississippi, was indicted for conspiracy to commit bank fraud, in violation of Title 18, United States Code, Sections 371 and 1344.

According to the indictment, SPOSATO opened a financial account at Keesler Federal Credit Union (“ Keesler”)in the name of  Pegasus Consulting and Development, LLC (“Pegasus Consulting”), a company of which he claimed to be President.  In early March 2023, SPOSATO received a $10,000.00 check he knew to be counterfeit from a co-conspirator. The check  was purportedly drawn on the financial account of a non-profit organization that supported a public library in  Florida.  On about March 27, 2023, SPOSATO attempted to deposit the counterfeit check into his financial account at Keesler, thereby placing Keesler at risk of civil liability and financial loss.  SPOSATO knew both that he was not entitled to the check and had never performed work for the non-profit.

SPOSATO faces a maximum term of imprisonment of five (5) years in prison, up to three (3) years of supervised release, up to a $250,000 fine, and a $100 mandatory special assessment fee.

U.S. Attorney Evans reiterated that an indictment is merely a charge and that the guilt of the defendant must be proven beyond a reasonable doubt.

U.S. Attorney Evans praised the work of the United States Probation Office in investigating this matter.  Assistant United States Attorney Jordan Ginsberg, Chief of the Public Integrity Unit, is in charge of the prosecution.


Shane Jones 

Community Outreach Coodinator

U.S. Attorney's Office 

Eastern District of Louisiana

Updated September 29, 2023

Financial Fraud