Man Sentenced For Scam

1 decade 1 year 11 months ago Tuesday, October 30 2007 Oct 30, 2007 Tuesday, October 30, 2007 8:05:59 AM CDT October 30, 2007 in News
Source: (Copyright 2007 The Associated Press All Rights Reserved.)
EAST ST. LOUIS (AP) - A Florida man should spend 13 years in federal prison and pay nearly $12 million in restitution for a credit card scam. That's the sentence a federal judge in East St. Louis handed down to 55-year-old Peter Porcelli the Second yesterday. Porcelli pleaded guilty in May to conspiracy, mail fraud and wire fraud counts alleging that he schemed to defraud or attempted to dupe more than 165,000 consumers with poor or no credit. Prosecutors say Porcelli and others called people with poor credit throughout the country, telling them that -- for a steep fee paid in advance -- they could get a Visa or MasterCard credit card. The credit card companies never authorized the marketing, and none of the consumers received the credit cards.

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