Buffalo Man Sentenced On Wire Fraud And Tax Evasion
CONTACT: Barbara Burns
PHONE: (716) 843-5817
FAX: (716) 551-3051
BUFFALO, N.Y.-Acting U.S. Attorney James P. Kennedy, Jr. announced today that Salvatore Letizia, 40, of Buffalo, NY, who was convicted of wire fraud and tax evasion before U.S. District Judge Richard J. Arcara, was sentenced to 41 months in prison.
Assistant U.S. Attorney Frank T. Pimentel, who handled the case, stated that from 2005 until 2009, Letizia defrauded four individuals out of more than $360,000. The defendant made false representations to entice the victims to invest in fictional business ventures. Letizia took the invested funds and credit lines and used them for his personal benefit. In addition, the defendant failed to file any tax returns for the tax years 2005 through 2009 declaring the income that resulted from the fraudulent activity.
The sentencing is the result of an investigation by the Federal Bureau of Investigation, under the direction of Special Agent in Charge Adam S. Cohen Niagara, and Special Agents of the Internal Revenue Service, Criminal Investigation Division, under the direction of Shantelle P. Kitchen, Special Agent in Charge.