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Press Release

Previously Convicted Fraudster Is Sentenced To Prison For Bank Fraud

For Immediate Release
U.S. Attorney's Office, Western District of North Carolina
The Defendant Committed the New Offense After He Was Granted Compassionate Release in May 2020

CHARLOTTE, N.C. – Joseph A. DiBruno, Jr., 54, of Gastonia, N.C., was sentenced today to 24 months in prison followed by two years of supervised release for bank fraud, announced Dena J. King, U.S. Attorney for the Western District of North Carolina.  U.S. District Judge Frank D. Whitney ordered this sentence to be served consecutive to the remaining term of DiBruno’s federal prison sentence stemming from his 2008 federal fraud conviction.

Michael C. Scherck, Acting Special Agent in Charge of the Federal Bureau of Investigation (FBI), Charlotte Division, and Tommy D. Coke, Inspector in Charge of the Atlanta Division of the U.S. Postal Inspection Service (USPIS), which oversees Charlotte, join U.S. Attorney King in making today’s announcement.

According to filed documents and statements made in court, in 2008, DiBruno was sentenced to more than 21 years in prison after pleading guilty in the Western District of North Carolina to conspiracy to defraud the United States, money laundering conspiracy, and concealment of assets. On April 8, 2020, DiBruno was approved for placement on home confinement due to the COVID-19 pandemic. At that time, the federal Bureau of Prisons calculated DiBruno’s estimated release date as June 2025.

Court records show that, after his release to home confinement in May 2020, DiBruno obtained or attempted to obtain loans from at least two financial institutions, based on fraudulent statements and false information he submitted on loan applications. For example, on one loan application DiBruno falsely claimed that he had been employed as Director of Data Analytics by a company listed as M.R.S., that he earned an average monthly salary of up to $8,000, and that he had lived at the residential address listed on the application for over four years, all of which information was untrue. According to court documents, between May 2020 and June 2021, DiBruno submitted at least five fraudulent loan applications to two financial institutions seeking funds totaling over $120,000.

In pronouncing the sentence, Judge Whitney stated that DiBruno received a “windfall” under the CARES Act but got “right back in the game” and had “a serious history of committing fraud” and “never learned his lesson.” 

On April 6, 2022, DiBruno pleaded guilty to making false statements to a credit union. He is currently in federal custody. He will be transferred to the custody of the federal Burau of Prisons upon designation of a federal facility.

The FBI and USPIS led the investigation. Assistant U.S. Attorney Caryn Finley of the U.S. Attorney’s Office in Charlotte prosecuted the case.

Updated January 25, 2023

Financial Fraud