Michael D. Tangredi, 55, of Toms River, New Jersey, pleaded guilty today to one count of perjury, announced United States Attorney David Rivera. During a hearing before U.S. District Judge Aleta A. Trauger, Tangredi admitted lying to a federal grand jury that had been investigating his son, Michael G. Tangredi, for conduct concerning fraudulent credit card transactions.
In 2013, Tangredi’s son was indicted on various charges, including money laundering, in connection with his alleged use of an American Express card to process more than $1,000,000 in fraudulent transactions. During his trial in April 2014, Michael G. Tangredi pleaded guilty to one count of money laundering, after testimony had shown that he had used funds acquired from the fraudulent American Express transactions to purchase a Maserati, a Bentley, and a restaurant in Hawaii.
During his plea hearing, Michael D. Tangredi admitted that he knowingly gave false testimony before the grand jury regarding the Maserati that had been purchased with fraudulently-acquired funds. Specifically, Tangredi admitted that he lied under oath to the grand jury when he testified that he was the person who had purchased this Maserati, whereas, in reality his son had purchased the automobile with fraudulently-derived funds. Tangredi further admitted that he had intended to testify untruthfully at his son’s trial.
Tangredi faces up to 5 years in prison and a fine of up to $250,000. He will be sentenced by Judge Trauger on Aug. 22, 2016. His sentence will be imposed by the Court after consideration of the U.S. Sentencing Guidelines and applicable federal statutes.
The case was investigated by the U.S. Secret Service. The case is being prosecuted by Assistant U.S. Attorney William F. Abely.
Source: U.S. Department of Justice, Office of the United States Attorneys
