Dean Dellas, a 41-year-old resident of Cazenovia, New York, pleaded guilty on February 26, 2026, to charges of wire fraud and aggravated identity theft. The announcement was made by First Assistant United States Attorney John A. Sarcone III and Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI).
According to court documents and admissions made as part of his plea, Dellas served as a financial advisor for clients in the Syracuse area from at least June 2021 through November 2023. During this period, he convinced clients to sign paperwork that allowed him to take advisor fees from their investment accounts that were much higher than what had been agreed upon. In some cases, he also obtained trading and withdrawal authority over client accounts by having them sign misleading documents.
The account-opening paperwork misrepresented Dellas’s relationship with his clients and falsely claimed he received no compensation for investment advice. It also inaccurately stated that clients wished to participate in high-risk investments. To hide his actions, Dellas concealed account statements from his clients and sometimes impersonated them when communicating with brokerage firms. He admitted to stealing approximately $686,000 through unauthorized withdrawals and excessive advisor fees.
First Assistant United States Attorney John A. Sarcone III commented: “Dean Dellas’s greed knew no bounds. He abused the trust of his clients and used their hard-earned retirement dollars as his own personal piggy bank. Thanks to our dedicated law enforcement partners, he is being held accountable so we may get justice for the victims of his crimes.”
Craig L. Tremaroli added: “Mr. Dellas abused his position as a financial advisor to callously steal from clients who trusted him with their investments. The FBI takes our responsibility to investigate those who commit fraud for personal gain very seriously, which is why Mr. Dellas is now heading to federal prison. We will continue working with our law enforcement partners to hold accountable those who use illegal means and criminal behavior to take advantage of others.”
Sentencing is set for June 22, 2026 before United States Chief District Judge Brenda K. Sannes. Dellas faces a mandatory minimum sentence of two years up to a maximum possible sentence of 22 years in federal prison along with a fine that could reach $250,000 and up to three years supervised release after imprisonment. As part of the plea agreement, he has agreed to pay restitution.
The case is being investigated by the FBI and prosecuted by Assistant U.S. Attorneys Matthew J. McCrobie and Michael F. Perry.
