Caesar DiCrecchio of Voorhees , NJ , was condemn to ten year and one month in prison , three age of supervised release , and ordered to pay more than $ 8 million in restoration by United States District Court Judge Cynthia M. Rufe for defrauding the Philadelphia Wholesale Produce Market of over $ 7.8 million .
In April 2021 , the defendant pleaded shamefaced to two counts of wire shammer , one numeration of conspiracy to entrust wire fraud , one reckoning of money laundering conspiracy , one count of exacerbate personal identity theft , and four count of tax evasion , all of which allegedly make more than $ 7.8 million in losses to the wholesale produce business in South Philadelphia .
DiCrecchio , the former President and CEO of the Produce Market , defrauded the Market by using company cash in hand to give $ 1.9 million in rent on his Stone Harbor , New Jersey shoring house , convert into cash $ 1.1 million in checks draw on the Market ’s bank explanation and using the hard cash for his own welfare , causing $ 1.7 million in checks to be cut from the Market operating report collectable to his friends or relatives , causing the Market to pay up for the defendant ’s personal credit card expending , converting $ 320,000 in checks that were collectible to the Market and cash in them for his own welfare , skimming $ 2.6 million in cash from the remuneration gate at the Market ’s parking lot , which he used to ante up Market employee ‘ under the table ’ while keeping a strong portion for his own usage , and using food market funds to put up a $ 180,000 loan to a Market vendor , which the vendor return right away to DiCrecchio . The defendant hold in these expenditures in the food market ’s books and records by head that these payments be reflected as lawful business spending , for example as upkeep , blow removal , insurance , legal fees , and other false expenditure introduction .
DiCrecchio committed aggravated identity theft by cashing checks at a currency exchange using the name of an unintentional dupe as the payee . Further , DiCrecchio conspired to engage in money laundering by agreeing with two unnamed individuals to conduct repeat money laundering transactions using money parliamentary procedure drag on marketplace accounting and cash at a currency substitution so that he could pay the economic rent at his shore house . In total , DiCrecchio wash around $ 319,736 by buy money orders at the currency exchange using Market monetary fund .
DiCrecchio also willfully evade Union income tax over several year , by failing to report more than $ 2.1 million in income for tax year 2014 through 2017 . DiCrecchio failed to report as income the yield of his put-on on the Market , as well as a auto allowance , a pension tolerance , and consulting income that he find from the Market .
For more info : Jennifer CrandallTel . : +1 215 - 861 - 8300
