United States of America v. John Sposato

Baton Rouge, Louisiana criminal defense lawyer represented the Defendant charged with Bank Fraud Conspiracy and Violating Supervised Release

Mississippi Man Sentenced for Bank Fraud Conspiracy and Violating Supervised Release

JOHN SPOSATO ("SPOSATO”), age 73, a resident of Kiln, Mississippi, pleaded guilty to conspiracy to commit bank fraud, in violation of Title 18, United States Code, Sections 371 and 1344.



SPOSATO began serving a three-year period of supervised release after his release from prison because of his previous conviction on about August 9, 2022, in United States v. John Sposato, 15-134 (E.D. La.). While on supervised release, SPOSATO claimed to be President of several companies, including Pegasus Consulting and Development, LLC ("Pegasus Consulting”). These companies neither performed work nor generated income. SPOSATO opened a financial account at Keesler Federal Credit Union in the name of Pegasus Consulting and on March 27, 2023, attempted to deposit a $10,000.00 check he received from a co-conspirator, knowing it to be counterfeit. The check was purportedly drawn on the financial account of an all-volunteer, non-profit, tax-exempt organization that supported a Florida public library. SPOSATO's attempted deposit placed Keesler at risk of both civil liability and financial loss. When asked about the check, SPOSATO falsely told a United States Probation Officer that the check was compensation for consulting work he performed, both directly and through an associate named "Jack Morgan,” for the non-profit entity. In fact, SPOSATO knew he was not entitled to the check and had never performed work for the non-profit.



U.S. Attorney Evans praised the work of the United States Probation Office and Federal Bureau of Investigation in investigating this matter. Assistant United States Attorney Jordan Ginsberg, Chief of the Public Integrity Unit, was in charge of the prosecution.