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Press Release

New Jersey Man Indicted For Wire Fraud

For Immediate Release
U.S. Attorney's Office, Northern District of New York

ALBANY, NEW YORK - Michael Pampalone, age 32, of Elizabeth, New Jersey, was arraigned yesterday on an indictment charging him with two counts of wire fraud for stealing $132,450 from an East Greenbush, New York man.

The announcement was made by United States Attorney Richard S. Hartunian, New York State Police Superintendent Joseph A. D’Amico, and Shelly A. Binkowski, Inspector in Charge, United States Postal Inspection Service, Boston Division.

The indictment alleges that Pampalone, a former mortgage broker, stole $132,450 from an East Greenbush man who hired Pampalone to help him obtain a mortgage.  According to the indictment, Pampalone instructed the victim to wire funds to a New Jersey bank account, and then, after the wires were completed, stole the money.

Pampalone faces up to 20 years of imprisonment and a $250,000 fine, if convicted.  Pampalone, who was indicted on December 23, 2015, was arraigned on January 4, 2016 before Magistrate Judge Daniel J. Stewart.  He was released on a bond pending a trial scheduled for March 7, 2016 before District Judge Mae A. D’Agostino.

The charges in the indictment are merely accusations.  The defendant is presumed innocent until proven guilty.

This case is being investigated by the New York State Police and the United States Postal Inspection Service, and is being prosecuted by Assistant United States Attorney Wayne A. Myers.

Updated January 5, 2016

Financial Fraud