ROCHESTER, N.Y. -- U.S. Attorney William J. Hochul, Jr. announced today that John Zdanecis, 79, of Brighton, N.Y., who was convicted of mail fraud, was sentenced to five years probation by U.S. District Judge Charles G. Siragusa. The defendant was also ordered to pay $82,500 in restitution to victims.
Assistant U.S. Attorney John J. Field, who handled the case, stated that the defendant solicited investors to participate in a commodities trading pool, Comtra Limited, that he controlled. Zdanecis then used most of the money for personal and business expenses, and did not invest it in commodities as promised. To conceal his scheme, the defendant sent his investors periodic account statements that were false and misrepresented the true condition of the investments. As a result of the fraud, investors lost more than $160,000.
At sentencing, the defendant was subject to a recommended sentencing guideline range of 33 to 41 months in prison.
The sentencing is the culmination of an investigation on the part of Special Agents of the Federal Bureau of Investigation.
Source: U.S. Department of Justice, Office of the United States Attorneys
