United States of America v. Joseph LaForte

Philadelphia, Pennsylvania criminal defense lawyer represented the Defendant charged with RICO Conspiracy, Securities Fraud, Tax Crimes, and Related Offenses

Par Funding CEO Sentenced to 15½ Years in Prison for RICO Conspiracy, Securities Fraud, Tax Crimes, and Related Offenses

Joseph LaForte, 54, of Philadelphia, Pennsylvania, was charged with committing numerous crimes arising from the defendant's operation of a fraudulent investment vehicle known as Complete Business Solutions Group Inc. d/b/a Par Funding ("Par Funding”).



In January 2025, the Court found the Par Funding fraud scheme caused an actual fraud loss of approximately $404,000,000, which it reduced to $288,395,088 after factoring in credit for collateral that federal authorities seized from Par Funding when the investigation became public in July 2020, upon the SEC placing Par Funding in receivership.



The defendant, who functioned as Par Funding's president and CEO, his brother James LaForte, Par Funding's "enforcer,” and Joseph Cole Barleta, Par Funding's chief financial officer, were charged in a February 2024 amended second superseding indictment with racketeering conspiracy and related crimes.



In September 2024, Joseph LaForte pleaded guilty to the RICO charge, securities fraud, tax crimes, and perjury. He also pleaded guilty to obstruction of justice for his role in aiding and abetting James LaForte's violent assault on one of the receivership's Philadelphia attorneys, and to a gun possession charge for firearms found in his former residence during the execution of a search warrant.



James LaForte pleaded guilty in September 2024 to racketeering conspiracy, securities fraud, and extortionate collection of debt, as well as obstruction of justice, for his assault on the receivership attorney, and retaliation, for threatening several government witnesses. He was sentenced earlier this month to 11½ years in prison.



Barleta pleaded guilty in October 2024 to one count of racketeering conspiracy and is scheduled to be sentenced on June 2, 2025.