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Tuesday, December 20, 2011

Lewes-Area Man Jailed In Scam

LEWES — A man who paid cash for a half-million dollar home near Lewes has been sentenced to more than five years in federal prison for conspiring to defraud the U.S. government by marketing fraudulent products and concealing assets from the IRS. Federal officials said the scam involved issuing hundreds of billions of dollars in worthless bonds.
On Dec. 16, U.S. District Judge William Martini sentenced Ronald Ottaviano, 65, to 62 months in jail during proceedings in federal court in Newark, N.J.  Ottaviano was also convicted of two counts of tax evasion and one count of money laundering.

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