Financial Consultant Charged With Fraud
The United States Attorney’s Office for the Middle District of Pennsylvania announced the filing of criminal charges Tuesday against August John Stile, Jr. age 49, of Hughestown, Pennsylvania.
According to United States Attorney Peter J. Smith, the Criminal Information alleges that between 2007 and January 2011, Stile devised and executed a scheme to defraud private investors of money by fraudulently offering short term investment opportunities based upon a promise of a return of the investment with substantial interest in less than 90 days. Stile allegedly defrauded the investors of approximately $310,000.
Stile was allegedly the purported Vice President of JFC Group and the President of Stile Consulting. JFC Group had an office in Dickson City, Pennsylvania, and Stile Consulting had its office in Exeter, Pennsylvania.
The case was investigated by the Federal Bureau of Investigation. Prosecution has been assigned to Assistant United States Attorney John Gurganus.
Indictments and Criminal Informations are only allegations. 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 this particular case, the maximum penalty under the federal statute is 140 years’ imprisonment, a term of supervised release following imprisonment, and a fine. Under the Federal Sentencing Guidelines, the Judge is also required to consider and weigh a number of factors, including the nature, circumstances and seriousness of the offense; the history and characteristics of the defendant; and the need to punish the defendant, protect the public and provide for the defendant’s educational, vocational and medical needs. For these reasons, the statutory maximum penalty for the offense is not an accurate indicator of the potential sentence for a specific defendant.