PHILADELPHIA – A man from Voorhees is accused of defrauding a distribution center here of more than $ 7.8 million, of which nearly $ 2 million was allocated to rent a summer residence on the shore.
Caesar “Sonny” DiCrecchio, 60, allegedly embezzled funds while he was president and CEO of the Philadelphia wholesale market, according to the United States attorney’s office for eastern Pennsylvania.
Sewell man Thomas Del Borrello, 42, is accused of contributing to the scheme as a supervisor of a check cashing agency.
A Philadelphia woman also faces charges related to the alleged scheme.
The market, described as the largest fully refrigerated wholesale terminal in the world. serves wholesalers, retailers, restaurants and other customers from a large complex on Essington Avenue in southwest Philadelphia.
In a statement, the market said it “has cooperated and continues to cooperate with the US attorney’s office in this matter, and we look forward to the criminals responsible for the fraud being held accountable.”
The U.S. Attorney’s Office says DiCrecchio defrauded the market from 2008 to 2018, including forcing the company to pay $ 1.9 million in rent on its vacation home in Stone Harbor.
He also allegedly cashed checks in the market bank account to get $ 1.1 million for his own benefit, and had the market issued $ 1.7 million in checks payable to friends and relatives, the federal prosecutor’s office said in a statement.
Some of the checks in the market went to charities, marching bands and people “with tragic health problems” that DiCrecchio had learned from reports, according to a billing document.
He argues that the market unwittingly paid for health insurance, home renovations, funeral expenses and travel.
In one case, the prosecution alleges that DiCrecchio embezzled more than $ 60,000 on tickets for two families to attend the Super Bowl.
DiCrecchio is also accused of skipping $ 2.6 million from payments in the market parking lot of the Essington Avenue complex
He allegedly used the money to pay employees in cash, “while keeping a substantial portion for his own use,” the statement said.
The statement also says he used market funds for a loan of $ 180,000 to a seller who repaid DiCrecchio directly.
DiCrecchio allegedly disguised the money collected in the fraud as market expenses for maintenance, snow removal and legal fees.
The statement claims he attempted to hide the fraudulent funds from the IRS by failing to report more than $ 2.1 million in income for 2014 to 2017.
He also did not report any income from car allowance, pension allowance and consulting income, he alleged.
Del Borrello, a supervisor at a United Check Cashing agency in South Philadelphia, allegedly “caused the filing of false (currency transaction reports) that concealed DiCrecchio’s identity, or prevented United Check Cashing from filing a CTR.” “
The statement also alleges that DiCrecchio “used the name of an unwitting victim as a beneficiary” when cashing the checks.
He would also have agreed with two anonymous people in a money laundering scheme of nearly 320,000 dollars “by buying money orders at the bureau de change using funds from the market,” he adds.
The charges against DiCrecchio include wire fraud, aggravated identity theft and tax evasion.
Del Borrello is charged with eight counts of false filing aggravated with a currency transaction report and one count of aggravated default in filing a currency transaction report.
Patricia Pumphrey, identified as a former accountant at the fruit and vegetable market, is also indicted in this case. Pumphrey, 75, is charged with wire fraud and conspiracy to commit wire fraud.
Jim Walsh reports for the Courier-Post, the Burlington County Times and the Daily Journal. His interests include crime, the courts and being first on the news. Contact him at [email protected]
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