Oakdale Man Sentenced to Probation for Defrauding Prospective Homebuilders and Investors
PITTSBURGH - A resident of Oakdale, Pennsylvania, has been sentenced in federal court to five years of probation, a $1,000 fine and ordered to pay $27,500 in restitution on his conviction of wire fraud, Acting United States Attorney Soo C. Song announced today.
United States District Judge Arthur J. Schwab imposed the sentence on Thomas Slack, 67, of Oakdale, Pennsylvania.
According to information presented to the court, Slack engaged in a scheme to fraudulently obtain money from prospective home builders seeking financing through loan programs administered through the United States Department of Agriculture ("USDA") Rural Development offices. Slack was a member and director of the Great Falls Development Group, a company which falsely purported to be an established residential real estate developer and builder. Slack falsely represented to prospective home builders and investors that he was associated with the USDA's Rural Development loan programs and that he could underwrite and pre-qualify applicants for the loan programs. Slack's false representations induced prospective home builders and investors to send money to him, believing that he was actively engaged in building homes and securing financing for the homes through the USDA, when, in fact, he was not.
Assistant United States Attorney Robert S. Cessar prosecuted this case on behalf of the government.
Acting United States Attorney Song commended the U.S. Department of Agriculture Office of the Inspector General for the investigation leading to the successful prosecution of Slack.