Oakmont Man Charged with Financial Crimes
PITTSBURGH, PA: An Allegheny County resident has been indicted by a federal grand jury in Pittsburgh on charges of bankruptcy fraud, money laundering, conspiracy and structuring financial transactions, United States Attorney David J. Hickton announced today.
The five-count indictment, returned on Feb.16, named Louis Lamanna, 50, of Oakmont, Pa.
According to the superseding indictment presented to the court, Lamanna committed bankruptcy fraud when he filed for personal bankruptcy and failed to disclose numerous assets such as open and closed bank accounts, various transfers of funds, and his ownership of a luxury vehicle. The luxury vehicle was ultimately sold, and Lamanna laundered the approximately $32,000 obtained from the sale of the vehicle and hid those proceeds from the bankruptcy court and his creditors. Lamanna also conspired with others to structure more than $170,000 in cash withdrawals from accounts at PNC Bank and First Commonwealth Bank for the purpose of evading currency transaction reporting requirements in a further attempt to hide funds from the bankruptcy court and his creditors.
The law provides for a maximum total sentence of 45 years in prison, a fine of $1,750,000 or both. Under the Federal Sentencing Guidelines, the actual sentence imposed would be based upon the seriousness of the offense and the prior criminal history of the defendant.
Assistant United States Attorney Brendan T. Conway is prosecuting this case on behalf of the government.
The Internal Revenue Service – Criminal Investigation and the Federal Bureau of Investigation conducted the investigation leading to the indictment in this case.
An indictment is an accusation. A defendant is presumed innocent unless and until proven guilty.