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Press Release

New Jersey Man Sentenced to Prison for Wire Fraud

For Immediate Release
U.S. Attorney's Office, Northern District of New York
Mortgage Broker Stole $132,450 From East Greenbush Client

ALBANY, NEW YORK – Michael Pampalone, age 34, of Elizabeth, New Jersey, was sentenced today to 24 months in prison for stealing $132,450 from a client.


The announcement was made by Acting United States Attorney Grant C. Jaquith and Shelly A. Binkowski, Inspector in Charge, United States Postal Inspection Service (USPIS), Boston Division.


Pampalone pled guilty to wire fraud in April 2017. He admitted that in 2013, he stole money that he had promised to hold in escrow for an East Greenbush, New York, man seeking a mortgage.  After the client sent him two wires totaling $132,450, Pampalone withdrew the money and used it for personal expenses.  In the following months, Pampalone told the client an elaborate, false story about the location of his money.


United States District Judge Mae A. D’Agostino also imposed a 3-year term of supervised release to begin after Pampalone’s release from prison.  Pampalone was also ordered to pay restitution to the victim in the amount of $132,450.


This case was investigated by the USPIS and New York State Police, and was prosecuted by Assistant United States Attorney Wayne A. Myers.

Updated September 25, 2017

Financial Fraud