Pinnacle Business Management (Prev SRCI)

[dia duit]

Family charged in car scheme

http://www.observer-reporter.com/or/break11/05-11-2012-locastros-charges


By Kathie O. Warco Staff writer [e-mail]

5/11/2012 3:33 AM


The owner of a former Canonsburg used car dealership and three family members face racketeering and theft charges stemming from a car financing scheme.

Vincent LoCastro, 57, of 203 Spartan Drive, Bethel Park, who once owned All Pro Auto Mall, is charged with two counts each of corrupt organizations and conspiracy as well as 18 counts each of theft and defrauding creditors.

His brother, Frank LoCastro, 47, of 151 Carol Drive, McMurray, is charged with two counts each of corrupt organizations and conspiracy along with 32 counts each of theft and defrauding creditors. He also is charged with unsworn falsification.

Vincent LoCastro's son, Joseph Bruce LoCastro, 26, along with his 21-year-old wife, Nicole LoCastro, also of 203 Spartan, also were charged with two counts of corrupt organizations and conspiracy.

A trooper with the state police Bureau of Criminal Investigations filed the charges this week at the office of District Judge David Mark.
Frank LoCastro reportedly purchased 16 high-end vehicles from dealerships in Pennsylvania, Ohio, New Jersey and Maryland between Dec. 23, 2008, and Feb. 9, 2009. Thirteen different financial institutions were used to finance the purchases. Vehicles purchased included a Hummer, Porsche, Mercedes-Benz and Cadillac Escalade.

Vincent LoCastro, along with his son and daughter-in-law, reportedly were involved in the vehicle transactions. Specifically, Vincent LoCastro was involved in 14 transactions; Joseph LoCastro, 10; and Nicole LoCastro, eight.

Frank LoCastro reportedly gave false information on loan documents, identifying himself as vice president of LoCastro & Associates with an annual salary of $144,000. Frank LoCastro then defaulted on the loans.

Court documents indicate creditors lost more than $400,000 on the defaulted loans. Some of the vehicles were recovered, but others were not, investigators said.

"Filing of criminal charges under Pennsylvania's Racketeering Influence and corrupt Organizations Act is a rare event due to the complex nature of these type of cases," said Eugene Vittone, Washington County district attorney.

"Hundreds of hours of police work were invested in this case," added Vittone.

Vincent LoCastro is no stranger to Washington County courts. Last September, he pleaded guilty to charges in connection with a false insurance claim in November 2008. He was sentenced to 18 months of probation after pleading guilty to one count each of insurance fraud, theft and forgery. LoCastro also was fined $500.

In December 2010, LoCastro pleaded guilty to unlawful business practices at the dealership from 2007 to 2009.

Also in December 2010, LoCastro was indicted in federal court for allegedly using another person's personal information to obtain financing for nine luxury cars. He was charged with identity theft for allegedly using the name, date of birth and Social Security number of "a person known to the grand jury" to acquire loans that resulted in four banks losing thousands of dollars.

Last June, LoCastro pleaded guilty and was placed on probation for 3 years. He was ordered to pay restitution in the amount of $545,872.

All four LoCastros are expected to be arraigned before Mark on the charges later this month.

[dropdeadfred]

heard some goofy rumors today about this trash email me

[MakinBank]

why is this moving?

[Stock Seeker]

somethings up other than the stock price!

[fung_derf]

Since the RB Pinnacle board has turned into a place for certain posters to do nothing more than mislead, I guess this is now the main place to go for information.
Now....anyone got any?

[fung_derf]

So, any more news on Vince or his brother? Anyone know if he's still "working" with Ray Anthony?

[fung_derf]

It's going nowhere because you are being evasive. If you answered questions honestly, I'll bet we could get a rousing discussion going.

[fung_derf]

I got bored halfway through. What's the Readers Digest version? Banks are bad, zardiw good?

[GhostMOMENTUM]

WOW, most excellent post.



WOW

[BullNBear52]

I actually forget how long ago this stock was exposed as a scam. You would think people would have gotten over that by now.

Geesh.

[Zardiw]

I'm bored with this content empty, go nowhere convo.......et z

[Zardiw]

I rest my case:

Posted by: Georgia Bard (Gary Swancy)
Date: 1/22/2001 5:40:23 PM (ET)
Post # of 331

Let us hold your 144 cert for safekeeping!

No matter where you go in the USA, you are told that you can not short against 144 restricted stock. That is about as true as you can not short an OTC stock. All stock can be shorted if it is in a brokerage account, which will show up in the broker’s long position.

As a service most brokerages are more than happy to hold a certificate for you in their vault. That way should you decide to register the 144, they would at least have the certificate on hand and only the form 4 plus a signature verification document would be all that is required. That can easily be done by fax or email. But is it wise to have a brokerage firm hold a 144 certificate for you in safekeeping? Is it really safe?

Well take today for example. I was watching a security, which I have 3 year restricted 144 stock. Now I had placed that 200,000 shares of 144 in certificate form into a brokerage house that told me they would glad to hold for me in their vault. So I did not sign it but just put sent it in to the broker to hold for me. Of course, I then see the 200,000 shares in my account on my monthly portfolio statement. The statement also notes they are restricted and the equity has no value by the denoted N/A under the Price column and thus no market value across the board. Now based on that statement the brokerage's long position just increased in accordance to my portfolio statement.

Now I realize and know the float is only 240,000 but it has traded the float over the past week and I could not understand where they were getting the stock to roll the bid every 30 – 90 seconds. (“Rolling the Tape”) So I called a broker and surprisingly was informed there was a big seller. Now how could that be since there was no large positions except 144 holders that I knew of at all. Further checking, I discovered there was plenty of stock in the long position of the clearinghouse! In other words, my restricted shares were now showing up in the Broker’s long position that MMs, MIMs, offshore and other players of the market can legally short against. (“Shorting Against the Box”)

A Brokerage’s Long Position is the available stock in the brokerage house accounts that can be shorted against that has not already been shorted. In other words, all stock in a Brokerage’s accounts can be shorted against, restricted or unrestricted. Thus the infamous “Air Shares” suddenly becomes “Restricted Air Shares” if the 144 holder happens to place a restricted certificate in their brokerage house for safe keeping. Because the share amount shows up as shares in the holder’s account, the brokerage shows all shares on the report as a long position for the brokerage.

Lets say that a brokerage house has in its accounts 1,000,000 shares, which is their long position to hopefully sell at a higher price. Of that say 500,000 is restricted that they are merely holding for 144 holders. The brokerage still shows a long position of 1,000,000. If someone plays the market and ”short against the box,” say 500,000 shares then the long position would reduce to 500,000 shares. Basically, they have shorted the unrestricted and have the restricted to go or vice versa. Now say another broker needs to borrow some of the long position to short and make an orderly market. Then the other 500,000 shares can be loaned out and thus shorted against the brokerage’s long position.

Restricted or not, signed or not, giving a broker a certificate for any reason is like putting a T-Bone steak (raw or cooked to whatever preference) on the floor and asking your dog to guard it. When you get back you will discover all that is left is the bone and the dog is still chewing on it. Please note, the dog is waging his tail and loves you to death but will growl at you if you try to even take the bone back. Expect a terrible hassle just to get what is left.

What does the Internet do? They merely start screaming P&D, or some other wild card to justify the stock price and the blame is no where close to the actual events of what has occurred. Now it may very well be 144 stock but not the 144 holders selling it. Most likely they are under the old belief you can’t short 144, which is apparently bogus.

Say a stock is trading at $10.00 a share. A 144 holder places his restricted stock certificate at his broker for safekeeping. The 144 holder now does not have to worry about trying to keep up with the certificate because they feel it is safe hands. Well, the MMs and MIM once the long position is out can just sell the fired out of the stock thus pre-selling the 144. Seems strange but the broker basically just nailed their client who they are suppose to be looking out for by the way. Just like the dog started eating the second you walked out the door.

Now the MIM has sold you out high and the price plummets. Watching with disbelief, you scratch your head on what happen to the stock price. Who in their right mind would be selling the stock, you ask yourself? Now you are ready to sell a bit once the legend is lifted and the price is 80% down from where you first put it into the brokerage house. Your brokerage house will be more than happy to sell the stock for you for a commission or buy it from you. Eventually, it makes back to whoever sold for you so they get the difference from when they pre-sold it for you much higher and can cover in getting you to sell at the low price. Still chewing on the bone in another words. But do not think about trying to pull that cert. Oh man the dog will used whatever they can to stop that from happening.

Bottom line is the 144 holder could not sell the 144 and was trying to be responsible and protect his interest. Heck, the 144 holder did not even sign the certificate nor even file a form 4 if they could. Unknowingly, they just shot themselves in the foot allowing a brokerage to hold their restricted security certificate and guard their investment.

When I called today to pull the certificate out and have it mailed back to me, I was informed of a numerous scenarios about getting my certificate. I was told it would take 6 weeks because the certificate was in the brokerage’s name. How could that be because the legend was still on the certificate and I had not signed it or even filed a form 4. The more I pressed on that issue I was later told that they had my original certificate and it was not in the brokerage’s name or street name. I was told they had talk to the company legal counsel and I was later told that did not happen especially after I did inquire to the counsel. I was told I needed the CUSIP numbers (I did not know you needed both restricted and unrestricted CUSIPs!), the certificate number and a reason for calling my certificate back.

Man I was blown away. My reason was became I owned the flipping certificate and I wanted back. I got both the CUSIP numbers and the certificate number to send in the written-signed request for my certificate. I even gave my Federal Express Account number so I could get the certificate back to me registered mail.

At the end of the day, I have discovered that anything in a brokerage account, restricted or unrestricted, is a long position and can be shorted. Supply and demand now is basically potential supply and demand. I was told today the “Rolling the Tape” I had been witnessing was, “Keeping the market honest.” Talk about an oxymoron or a contradiction in terms. But very few days come along where a light bulb come on or a 2x4 hits you in the head awakening you to the reality of the market.

Never put more into a brokerage account that you are willing to sell. Greed is putting in more shares than you are willing to let go of in a short term basis. They stock you do not intend to sell will be sold one way or another as long as it is in the brokerage account and thus showing up on the brokerage's long position.

I have to wonder how many people unknowingly realize that by putting their 144 certificates in their brokerage house, they actually are shooting themselves in the foot? Are they aware the market is actually about to nail them financially? How many stocks have been nailed not by 144 holders selling but putting their certificate in the hands of their broker for safe keeping and someone else sells for them? Could account for a tremendous MM oversell from what I have learned today.

Not only that, have you ever sent a certificate in to a brokerage house and it is free trading? Ever watch the selling that occurs prior to the 3 days to clear before you can sell. Envision this … you send in a certificate for say 100K shares and are informed it takes 3 days to get good delivery to street name. The broker upon receiving the certificate can short the stock. Who cares about fundamentals or anything? They got a certificate.

Hey, this is based on events today that I experienced and I could possibly be wrong. However, at 10:48 AM when I called for that 144 certificate the last “Rolling the Tape” occurred at 10:47 AM. The rest of the information in this composition was obtained by speaking to professional brokers. It was quite an eye opening experience and explains to me how a lot of stocks fall and no one lied because they have not sold a share. Nothing more than that someone else selling "Restricted Air Shares" causing the downward movement and looking for the holder to sell at the low price.

#1 Rule of the Market: Sell High (even if it is not your stock) and buy low (especially if it is the holders of the stock you sold against)




:=) Gary Swancey

z

[fung_derf]

I'm on your list of they? Explain.

[fung_derf]

LOL! You say go back to the beginning and there's your culprits and you are post number 3. Hmmmmmmmmm, I note post number 4 is very happy to see you here.

[fung_derf]

You are like Mccurddy, you keep using the term "they". Why is everyone so afraid to name names if they know them? Do "they" scare you?
But moving along, so at 600 million shares you thought it was naked shorted, what did you think when the share count kept growing? Wasn't it about 2 billion?? Did you still think it was "they"? Do you still not blame management?
Why is it, no one is willing to spell this out?

[Zardiw]

Try reading the board from the beginning........and this butter wouldn't melt etc.....is too funny..........z

[Zardiw]

Some known, some unknown....but you prolly know all of em.....and yes....there was and probably is a lot of air shares out there....and that WAS my original interest in the stock...we thought we could get them to cover....what a dream.....they NEVER freaking cover.....lol......cause guess what....they figure they can drive it to no bid.......and that's what they did.......z

[fung_derf]

Wait a minute....are you saying there was talk of a naked short long before the stock got going?
Hmmmmmm, a few holes there. At the time, there was only something like 600 million shares or so. I just checked and I bought on 3/1/00 at .465, which was probably the all time top!
So, there's no way there was already talk of a naked short.
I believe it was a check cashing biz.
I'm curious as to who you think is on "the crew"?

I'm very confused right now. Who do you think brought down the company?
Hall?
Turino?
Jensen?
Andle?
Vinny?
The Mob?
SBG?
Slhicks?
Treff and slurpy?
LandM?
Riter?
Rodders?
Wendy?
Flecksman?
guru?
Elgindy?
Janice?
McCurry?

Who exactly in your mind do you think is to blame for the downfall?

[Zardiw]

I was made aware of a huge naked short position in the company.....that was my sole and only interest (as I recall....don't even remember what the company was about if the truth be told....and the IBox is no help, since it's been vandalized by the *crew*...nice job there....looks just like some house in the ghetto)....seeing the miscreants brought to their knees...........z

[Zardiw]

Ha Ha....funny...PCBM on a long list of *conquests* by the crew...but you already knew that.........z

[fung_derf]

Do you know what ever happened to Hall?

[fung_derf]

So Vinny has a brother who also has some legal issues? I'm sure their parents must be so proud.

[fung_derf]

Do RBers just gloss over any and all of the info about Vinny and his troubles?

[fung_derf]

Can't believe people are now trying to claim PCBM was also a part of the CMKX "sting"!

[dia duit]

Separated at birth???

OMG This guy from Locastro's neighborhood in McMurray, Peters Township Pa. looks EXACTLY like Vinnie the Torch! Is Dino his older brother or cousin?

http://www.phillyburbs.com/blogs/hot_pennsyltucky_mess/drunk-casino-patron-gets-his-italian-up-screams-death-threats/article_d026fab6-ad59-11e0-bf4b-001a4bcf6878.html

Drunk casino patron gets his Italian up, screams death threats at cops

Posted: Wednesday, July 13, 2011 10:16 am | Updated: 11:54 am, Wed Jul 13, 2011.
PATRICK BERKERY | 0 comments

Madonna mi! Get a load of this gavone (pictured) from Peters Township, who got drunk and very disorderly at Meadows Casino last Saturday, and started screaming death threats at the cops who confronted him.

From the WTAE story:

Dino Vincent LoCastro, 53, of Peters Township, was causing problems by being loud, insulting to the wait staff and disturbing other customers at the casino in North Strabane on Saturday night, police said. When LoCastro was told that he would be cited for public drunkenness, police said he became aggressive and screamed, "I will tear your eyes out. I'm Dino Vincent LoCastro. I'm Sicilian. You are dead. Your wife and children are dead. I'm coming after your family. You are going to pay. I'm going to bury you. I will hunt your family for the rest of my days. You can let me go and be my best friend or I will never leave you alone for the rest of your life." Police said LoCastro was arraigned before District Judge Larry Hopkins on a charge of terroristic threats and taken to Washington County Correctional Facility on $35,000 bond.
Is it wrong to suggest this mook was probably wearing a track suit at the time of the incident?



http://ptcrimewatch.blogspot.com/2009/03/peters-twp-man-faces-charges-of-dui.html

Peters Twp. Crime Watch

THURSDAY, MARCH 26, 2009
Peters Twp. man faces charges of DUI, fleeing: O-R 3/26/09
Peters Twp. man faces charges of DUI, fleeing
By Kathie O. Warco
Staff writer

[e-mail]

A Peters Township man faces a number of charges after leading police from three municipalities on a chase that started about 1:15 a.m. Tuesday in Bethel Park.

Dino V. LoCastro, 50, of Center Church Road, McMurray, was charged by Bethel Park police with fleeing and eluding police and driving under the influence of alcohol or a controlled substance. He also is charged with a number of traffic violations.

Bethel Park police Chief John Mackey said one of his officers was on patrol in the area of Superior Street and Milford Drive when he noticed a driver, later identified as LoCastro, acting suspiciously. Mackey said LoCastro's vehicle did not have any rear lights.

When the officer tried to stop LoCastro, he failed to obey the stop sign and continued to accelerate, Mackey said. Two minutes later, the officer lost sight of LoCastro.

A minute later, Bethel police received a report from Upper St. Clair police that LoCastro was spotted on East McMurray Road traveling at a high speed, Mackey said.

Three minutes later, Peters Township police reported that they were in pursuit of LoCastro. At 1:23 p.m., Peters police said he was in custody after he had crashed at East McMurray and Center Church roads. Mackey said LoCastro tried to flee on foot and run to his home.

LoCastro, who police said smelled of alcohol, was taken to St. Clair Hospital for treatment of facial injuries. Blood also was drawn to determine whether he was under the influence of alcohol or a controlled substance. He was admitted to the hospital for a mental health evaluation.

Charges will be sent by summons from the office of District Judge Robert C. Wyda. He also faces traffic charges filed by police in Upper St. Clair and Peters Township.

Copyright Observer Publishing Co.

[dia duit]

Unbelievable! With Vinnie the Torch's previous record of fraud, why would any judge sentence him to 3 years probation with time half served at home under house "detention"? That must really hurt Vince's feelings that the Judge was such a meanie. Did the Judge decide it was too harsh a sentence to have Vinnie write a hundred times "I will never commit another fraudulent act again in my lifetime"?


Oh well, there is still the insurance fraud pending.


http://www.post-gazette.com/pg/11148/1149788-55.stm

McMurray man sentenced in check kiting scheme
Saturday, May 28, 2011
Pittsburgh Post-Gazette

Vincent A. Locastro, who took $545,872 through check kiting and identity theft, will have to pay it all back and serve three years probation, half of that under home detention, U.S. District Judge David S. Cercone decided Thursday.

Mr. Locastro, 47, of McMurray, was accused of using a trusting friend's name and Social Security number to get financing for nine luxury automobiles. He told the judge he "violated a dear friend's trust" and wants an opportunity to go from being "a good man" to "a better man."

[dia duit]

IN THE UNITED STATES DISTRICT COURT
FOR THE WESTERN DISTRICT OF PENNSYLVANIA

AUCTION CREDIT ENTERPRISES, LLC,
Plaintiff,

v.
KIM LO CASTRO,
Defendant.

)))))))))
2:10-mc-49



MEMORANDUM ORDER OF COURT

Pending now before the Court is Plaintiff’s MOTION TO COMPEL AND FOR
SANCTIONS (Doc. No. 4). On February 11, 2010, confessed judgment was entered in favor of
Plaintiff and against Defendant in the amount of $530,424.33, plus interest at 18% per annum
and expenses and costs as shall continue to accrue, a copy of which was served on Defendant by
hand delivery on April 7, 2010. See Doc. Nos. 2 and 3. On June 10, 2010, Defendant was served
with a notice of deposition to be conducted on July 13, 2010. Doc. No. 4 at exhibit A.
Included within the notice of deposition was a request for the production of documents at the deposition. Id. On July 12, 2010, counsel for Plaintiff was contacted by counsel representing Defendant’s husband in an unrelated matter, the nature of which was not described in the motion to compel. The attorney for Defendant’s husband advised counsel for Plaintiff that Defendant would not be attending the deposition noticed for the following day. On July 13, 2010, Defendant did, in fact, fail to appear for her deposition, and has further failed to produce any documents. Plaintiff has moved to compel Defendant to attend and testify at deposition with production of documents pursuant to Fed.R.Civ.P. 37 as incorporated by Fed.R.Civ.P. 69(a).
Rule 69(a) reads in pertinent part:

In aid of the judgment or execution, the judgment creditor or a successor in interest
when that interest appears of record, may obtain discovery from any person,
including the judgment debtor, in the manner provided in these rules or in the manner
provided by the practice of the state in which the district court is held.

Rule 69 authorizes a judgment creditor to use the federal or state procedural process to determine

whether and what kind of assets exist that might satisfy the judgment. The scope of

post-judgment discovery is broad, enabling judgment creditors to seek discovery of both current

assets and past financial transactions that could lead to the existence of fraudulently concealed or

fraudulently conveyed assets. See, e.g., Wright & Miller, Federal Practice and Procedure: Civil §

3014 (West 1973).

The limitations upon post-judgment discovery are those established by Rule 26(b). A

judgment creditor “may obtain discovery regarding any matter, not privileged, which is relevant

to the subject matter involved in the pending action.” Fed.R.Civ.P. 26(b)(1). Under the Rules,

"relevance" is to be construed liberally, but not without boundaries. Oppenheimer Fund, Inc. v.

Sanders, 437 U.S. 340, 351-52, 98 S. Ct. 2380 (1978). There appears to be no justifiable reason

why Defendant failed to appear for her deposition.1

1 The Court notes that a virtually identical action between Plaintiff and Vincent
LoCastro, Defendant’s husband, was initiated at the same time as the matter sub judice in this
Court at miscellaneous action number 2:10-mc-48. That action apparently involves the same
confessed judgement, a notice of deposition for Vincent LoCastro that was delivered on the same
day as the one herein, and the same phone call from the attorney for Vincent LoCastro indicating
that his client would not be appearing for the deposition. See Doc. No. 4 at 2:10-mc-48, Auction
Credit Enterprises v. Vincent LoCastro. Similarly, Plaintiff filed a motion to compel seeking an
order for Vincent LoCastro to appear and respond to the notice of deposition, and also seeking
sanctions. Id. On July 30, 2010, that motion was granted in part and denied in part. Id. at Doc.
No. 6, 2010 WL 3039180 (slip copy). There are two distinctions between the posture of Vincent
LoCastro in that matter and Defendant here. Vincent LoCastro was represented by the attorney who contacted counsel for Plaintiff, while Defendant is not. Further, Vincent LoCastro’s
attorney indicated that if his client was ordered to appear, that he would most likely be invoking
his right not to incriminate himself under the Fifth Amendment. Id. No such rationale has been
provided to Plaintiff on behalf of Defendant in this action to justify Defendant’s failure to appear.

AND NOW, this 10th day of August, 2010, it is hereby ORDERED, ADJUDGED, AND
DECREED, that Plaintiff’s MOTION TO COMPEL AND FOR SANCTIONS (Doc. No. 4), is
GRANTED IN PART AND DENIED IN PART.

Plaintiff’s motion is GRANTED to the extent that Defendant is hereby ordered to appear
and to submit to examination by oral deposition in aid of execution, as well as to produce those
documents previously identified with the notice of deposition, no later than August 24, 2010.
Plaintiff’s motion, to the extent it seeks sanctions, is DENIED without prejudice.
Failure to comply with this Order may result in the imposition of sanctions.

BY THE COURT:
s/ Terrence F. McVerry
United States District Court Judge

cc:
For Plaintiff: Elene M. Moran, Esquire
Email: [e-mail]
Kerri L. Coriston, Esquire
[e-mail]

Defendant: Kim Lo Castro
102 Standing Rock Drive
McMurray, PA 15317

Courtesy copy to:
John A. Schwab, Esquire
[e-mail]

http://docs.justia.com/cases/federal/district-courts/pennsylvania/pawdce/2:2010mc00049/96104/6/0.pdf

[fung_derf]

Separated at birth???

[dia duit]

Vincent A. LoCastro, arrested 10/21/2010 for Auto - padding/false claim in Canonsburg, PA

http://insurancefraud.org/arrests.lasso





10/21/2010 3:32 AM

Owner of used car dealership faces more charges

By Kathie O. Warco, Staff writer [e-mail]

This article has been read 4569 times.

CANONSBURG - The owner of a Canonsburg used car dealership was arrested Wednesday by agents of the state attorney general's office for allegedly making a false insurance claim.
Vincent A. LoCastro, 47, of 102 Standing Rock Drive, McMurray, is accused of filing the false claim for a Cadillac Escalade that was involved in a crash in Pittsburgh. The vehicle was being leased by his dealership, All Pro Auto Mall, 108 S. Central Ave.

The state attorney general's office was contacted by investigators for the Progressive and Esurance insurance companies.

"Basically, there was an insurance lapse on the Cadillac Escalade that was then involved in an accident," said Nils Fredericksen, deputy press secretary for Attorney General Tom Corbett. "New insurance was obtained and a claim was made, changing the date of the accident to make sure it was within the time period of coverage. A forged towing bill also was submitted."

Insurance for the vehicle was initially obtained from Progressive by Gregory Washington with All Pro Auto Mall and LoCastro designated as leinholders. Fredericksen said the insurance was canceled due to lack of payment. The policy expired Oct. 2, 2008, and the crash happened Nov. 21, 2008 when Washington's girlfriend, Shanice Jennings, was driving it.
Washington told investigators he told LoCastro the insurance had lapsed and that Progressive was going to help him go after the owner of the van that hit the Cadillac. Washington also told investigators he was not aware that another insurance policy was obtained until he was contacted by Esurance.

LoCastro reportedly filed a claim with Esurance indicating the wreck happened Dec. 1, 2008. He also reportedly submitted a tow bill indicating the vehicle had been in storage since Dec. 1 and not Nov. 20.

"This is fairly common," Fredericksen said of the fraudulent claim. "People believe it is OK to let insurance lapse and then fudge the truth. We deal with this almost daily."

LoCastro was arraigned before District Judge David Mark on charges including insurance fraud, attempted theft and forgery and released on his own recognizance. A preliminary hearing is set for Oct. 28 before Mark.

Earlier this year, LoCastro waived to court charges stemming from his alleged failure to pay the state money for fees collected on vehicles he sold at All Pro Auto Mall.

State police at the Washington barracks charged him with multiple violations, including 338 counts of applications for certificate of title and more than 500 counts of violating rules for registering vehicles. He also is charged with theft by failure to make required deposit of funds and tampering with public records.

He also faces charges filed by state police claiming fraudulent business practices at the dealership in 2007 and 2008.

LoCastro is tentatively expected to enter a plea Friday before Judge Janet Moschetta Bell.

http://www.observer-reporter.com/or/localnews/10-21-2010-locastro-arrested-w-headshot


10/27/2010

Used car dealership owner facing charges

By Kathie O. Warco Observer-Reporter [e-mail]


The owner of a Canonsburg used car dealership was arrested Oct. 20 by agents of the state attorney general's office for allegedly making a false insurance claim.
Vincent A. LoCastro, 47, of 102 Standing Rock Drive, McMurray, is accused of filing the false claim for a Cadillac Escalade that was involved in a crash in Pittsburgh. The vehicle was being leased by his dealership, All Pro Auto Mall, 108 S. Central Ave.

The state attorney general's office was contacted by investigators for the Progressive and Esurance insurance companies.

"Basically, there was an insurance lapse on the Cadillac Escalade that was then involved in an accident," said Nils Fredericksen, deputy press secretary for Attorney General Tom Corbett. "New insurance was obtained and a claim was made, changing the date of the accident to make sure it was within the time period of coverage. A forged towing bill also was submitted."

Insurance for the vehicle was initially obtained from Progressive by Gregory Washington with All Pro Auto Mall and LoCastro designated as leinholders. Fredericksen said the insurance was canceled due to lack of payment. The policy expired Oct. 2, 2008, and the crash happened Nov. 21, 2008 when Washington's girlfriend, Shanice Jennings, was driving it.


Washington told investigators he told LoCastro the insurance had lapsed and that Progressive was going to help him go after the owner of the van that hit the Cadillac. Washington also told investigators he was not aware that another insurance policy was obtained until he was contacted by Esurance.
LoCastro reportedly filed a claim with Esurance indicating the wreck happened Dec. 1, 2008. He also reportedly submitted a tow bill indicating the vehicle had been in storage since Dec. 1 and not Nov. 20.

"This is fairly common," Fredericksen said of the fraudulent claim. "People believe it is OK to let insurance lapse and then fudge the truth. We deal with this almost daily."

LoCastro was arraigned before District Judge David Mark on charges including insurance fraud, attempted theft and forgery and released on his own recognizance. A preliminary hearing is set for Oct. 28 before Mark.

Earlier this year, LoCastro waived court charges stemming from his alleged failure to pay the state money for fees collected on vehicles he sold at All Pro Auto Mall.

State police at the Washington barracks charged him with multiple violations, including 338 counts of applications for certificate of title and more than 500 counts of violating rules for registering vehicles. He also is charged with theft by failure to make required deposit of funds and tampering with public records.

He also faces charges filed by state police claiming fraudulent business practices at the dealership in 2007 and 2008.

http://www.thealmanac.net/alm/story10/10-27-2010-locastro-arrested

[fung_derf]

Sounds like Turino is alive and living well with ex strippers in Belarus.

[dia duit]

Poor Vinny. Things just keep gettin' tougher for him

It could be worse. At least he isn't in Turino's shoes. He may have escaped all that mess.

[fung_derf]

Poor Vinny. Things just keep gettin' tougher for him.

[dia duit]

Plaintiff: AUCTION CREDIT ENTERPRISES, LLC
Defendants: LO CASTRO & ASSOCIATES, INC., VINCENT A. LO CASTRO and KIM LO CASTRO

Case Number: 2:2010cv00204
Filed: February 12, 2010

Court: Pennsylvania Western District Court
Office: Pittsburgh Office [ Court Info ]
County: XX US, Outside State
Presiding Judge: Lisa Pupo Lenihan

Nature of Suit: Real Property - Foreclosure
Cause: 28:1332 Diversity-Other
Jurisdiction: Diversity
Jury Demanded By: None


http://dockets.justia.com/docket/court-pawdce/case_no-2:2010cv00204/case_id-190036/

[fung_derf]

I thought mobsters were supposed to be smooth? Tony Soprano would take his own life over these kinds of screw ups.

[dia duit]

Woman To Get Car Deposit Back After Contacting Channel 11 News
Posted: 7:22 pm EDT April 16, 2010
Updated: 11:24 pm EDT April 16, 2010

CANONSBURG, Pa. -- A Canonsburg car dealer said he is going to return a woman’s $1,000 deposit after she changed her mind about buying the vehicle and then told Channel 11 News she hadn’t received her money back.

Cindy Larkin said she put $1,000 down as a deposit on a used Saturn car at All Pro Auto Mall and then decided not to buy the vehicle. She told Channel 11 News reporter Jodine Costanzo that the salesman told her she would get the check in two days.

“But I never received it,” Larkin said. “And I called them a couple times and he kept on telling me the same thing, ‘We sent it out.’”

That was nearly two weeks ago.

Costanzo contacted the dealership owner, Vincent Locastro, and he told her in a phone conversation on Friday that he would mail Larkin’s deposit check immediately.

Channel 11 News also discovered that he has been under investigation by state, local and federal authorities, all involving questionable business practices. He currently faces 400 charges, including theft by unlawful taking, passing bad checks and tampering with public information, Costanzo reported.

Channel 11 News also got a copy of a consent agreement and found that the state has taken action against Locastro in the past. He was ordered to pay $4,000 for selling used cars from an unauthorized location two years ago.

http://www.wpxi.com/news/23177891/detail.html

[fung_derf]

What the heck is wrong with Vinny? Where are all his connections? It just doesn't pay to pay off a politician anymore.

[dia duit]

Canonsburg car dealer waives some charges to court

http://www.observer-reporter.com/OR/Story/03312010locastrowaives

3/30/2010 2:49 PM
By the Observer-Reporter

CANONSBURG – The owner of a Canonsburg used car dealership waived one set of charges to court Tuesday while a preliminary hearing for a second set was continued for 90 days.
Vincent LoCastro, 46, of 102 Standing Rock Drive, McMurray, waived to court charges stemming from his alleged failure to pay the state money for fees collected on vehicles he sold at All Pro Auto Mall, 116 1/2 S. Central Ave. He had been scheduled for a preliminary hearing before District Judge David Mark.

A hearing into charges of deceptive or fraudulent business practices, theft by deception, bad checks and theft was continued for 90 days. LoCastro was charged by state police Bureau of Criminal Investigations, Western Task Force, for allegedly to give LoCastro a North Franklin Township man full payment for a 2005 Lexus he sold. When Kenneth Homerosky cashed a check LoCastro had given him, it was returned for insufficient funds.

LoCastro agreed to pay Homerosky $2,500 a month for the next seven months starting April as repayment.



http://www.observer-reporter.com/OR/Story/03-31-2010-LoCastro-waives

3/31/2010 3:32 AM

Canonsburg dealership owner waives set of charges to court

By Kathie O. Warco, Staff writer, [e-mail]

CANONSBURG - The owner of a Canonsburg used car dealership waived one set of charges to court Tuesday while a preliminary hearing on a second set was continued for 90 days.
Vincent LoCastro, 46, of 102 Standing Rock Drive, McMurray, waived to court charges stemming from his alleged failure to pay the state money for fees collected on vehicles he sold at All Pro Auto Mall, 1161/2 S. Central Ave. He had been scheduled for a preliminary hearing before District Judge David Mark.

A hearing into charges of deceptive or fraudulent business practices, theft by deception, bad checks and theft was continued for 90 days. LoCastro was charged by state police Bureau of Criminal Investigations Western Task Force for allegedly failing to give a North Franklin Township man full payment for a 2005 Lexus he sold.

When Kenneth Homerosky, who owned the Lexus, cashed a check LoCastro had given him, it was returned for insufficient funds.

A dealership employee told police that LoCastro did not want to buy the vehicle but agreed to put it on the lot. If it did not sell, the dealership would take it to an auction. LoCastro took the luxury car to the auction.
Records from American Auto Auction show the car sold for $21,100. After fees, a check for $20,900 was made out to Auction Credit Enterprises and applied toward All Pro Auto's debt with the auction.

Homerosky eventually received $4,000 for the vehicle. LoCastro agreed to pay Homerosky $2,500 a month for the next seven months starting in April as repayment.

LoCastro waived to court the charges filed by state police at the Washington barracks for multiple violations, including 338 counts of applications for certificate of title and more than 500 counts of violating rules for registering vehicles. He is also charged with theft by failure to make required deposit of funds and tampering with public records.

Those charges are expected to be dealt with later this month along with other charges previously filed against LoCastro at a proceeding before Judge Janet Moschetta Bell. State police filed hundreds of charges against LoCastro, claiming fraudulent business practices at the dealership in 2007 and 2008.

[dia duit]

**Car dealer reports jewelry stolen from business**

2/10/2010 3:32 AM

Car dealer reports jewelry stolen from business

By Kathie O. Warco, Staff writer [e-mail]

A Peters Township man told Canonsburg police Monday that $225,000 in jewelry was stolen from a safe in a cabinet inside his office at his used car dealership.
Vincent LoCastro of 102 Standing Rock Drive told police that jewelry was being sold as part of his LoCastro & Associates Inc. jewelry business.

LoCastro told police that he got a call Sunday morning from a member of his cleaning service who reported finding the front door to the dealership unlocked. A member of the cleaning crew also reported to LoCastro that two windows were found unlocked the previous week.

After the cleaners were done, they locked up the business. An employee also came and checked the door later Sunday morning, finding it locked.

LoCastro said most of the jewelry was in a silver, hard-sided briefcase kept in the bottom drawer of the cabinet. The briefcase also was stolen.

Police said there was no sign of forced entry into the building. There were pry marks on the right side of the filing cabinet. LoCastro told police that he found a crowbar on a shelf in an unused office.

The collection reportedly included a Terry Bradshaw 1979 Super Bowl ring valued at $75,000 and a Joe Greene 1974 Super Bowl ring valued at $60,000.

Bradshaw donated all four of his Super Bowl rings, along with other personal memorabilia like his Hall of Fame ring and bust, to his alma mater, Louisiana Tech University, in April 2006. Canonsburg police Detective Al Coghill said the ring may be a second design made for family members.

LoCastro told police the jewelry is not insured.

LoCastro was charged last week by state police with multiple violations including 338 counts of applications for certificate of title and more than 500 counts of violating rules for registering vehicles at his dealership, All Pro Auto Mall. He is also charged with theft by failure to make required deposit of funds and tampering with public records.

In December, LoCastro was indicted in federal court for allegedly using another person's personal information to obtain financing for nine luxury cars. He was charged with identity theft.

He is awaiting a March hearing before county Judge Janet Moschetta Bell on hundreds of charges filed by state police claiming fraudulent business practices at the dealership in 2007 and 2008.

http://www.observer-reporter.com/OR/Story/02-05-2010-LoCastro-charged-

[dia duit]

LoCastro facing fresh charges

http://www.observer-reporter.com/OR/Story/02-05-2010-LoCastro-charged-

2/5/2010 3:33

LoCastro facing fresh charges

By Kathie O. Warco, Staff writer, [e-mail]

A Canonsburg used car dealer, already facing charges in federal and Washington County courts, was accused this week of failing to pay the state money he collected for license plates and other fees on vehicles sold.

Vincent A. LoCastro, 47, of 102 Standing Rock Drive, McMurray, was charged Tuesday by state police with multiple violations including 338 counts of applications for certificate of title and more than 500 counts of violating rules for registering vehicles. He is also charged with theft by failure to make required deposit of funds and tampering with public records. LoCastro owns and operates All Pro Auto Mall, 108 S. Central Ave.

Trooper Kevin Daerr, who filed the charges against LoCastro, said he had received complaints from customers who purchased vehicles from All Pro Auto Mall but did not receive their titles and/or registration from the state within 90 days of purchase.

LoCastro allegedly sold 52 vehicles between Feb. 7 and Nov. 2, collecting $26,597 in taxes and fees from the buyers. Daerr said dealers are required to pass the collected fees within 20 days of the sale of the vehicle, but LoCastro failed to submit them to the Department of Transportation.

LoCastro is also accused of failing to submit a title to Penn-DOT for a vehicle he sold on July 17. Since that temporary registration expired, LoCastro allegedly completed a new form showing an Oct. 15 sales date to give the owner of the vehicle another 90 days on the new temporary registration card. LoCastro allegedly entered a false date for the purchase, listing the sale as Oct. 15 when the true date was July 17.

Last week, Canonsburg police received a complaint from a Pittsburgh woman who reported that she learned that the license plate on the BMW she purchased at All Pro was registered to a Harrisburg couple. The vehicle identification number indicated her car was owned by a Pittsburgh couple. The report will be turned over to Daerr, who said that vehicle owners should receive the necessary registration paperwork from the state before the temporary tag expires 90 days after the date of purchase.

"It is an oddity if you don't get the registration within the 90 days," Daerr said. "It may be as simple as a paperwork error, but you should contact the dealer."

In December, LoCastro was indicted in federal court for allegedly using another person's personal information to obtain financing for nine luxury cars. He was charged with identity theft for allegedly using the name, date of birth and Social Security number of "a person known to the grand jury" to acquire loans that resulted in four banks losing more than $330,000.

According to federal prosecutors, LoCastro obtained the loans while doing business as owner of All Pro Auto Mall.

LoCastro is awaiting a March hearing before county Judge Janet Moschetta Bell on hundreds of charges filed by state police claiming fraudulent business practices at the dealership in 2007 and 2008.

Early in 2008, LoCastro agreed to comply with a state consumer protection law regarding some cars that were improperly sold through the dealership. State Attorney General Tom Corbett had filed claims that LoCastro violated fair trade practices, consumer protection laws and Pennsylvania auto regulations.

The filing said his company misrepresented the condition of advertised vehicles and collected deposits for online auctions but failed to return them when purchasers did not complete a transaction.

LoCastro signed a voluntary compliance agreement and paid $11,607 in civil penalties, the cost of investigation and filing fees and has returned deposits or security collected from consumers who canceled or breached sales contracts.

The most recent charges were filed at the office of District Judge David Mark. A preliminary hearing is set for March 10 before Mark.

Daerr said the investigation is continuing. Anyone with similar complaints should contact him at 724-223-5200.


http://www.thealmanac.net/ALM/Story/03-03-2010-locastro-charged-again

3/3/2010

Charges on used car dealer mount

By Kathie O. Warco Observer-Reporter [e-mail]

The owner of a Canonsburg used car dealership, already facing charges for allegedly failing to pay the state money for fees he collected on vehicles he sold, now faces theft charges.

Vincent A. LoCastro, 47, of 102 Standing Rock Drive, McMurray, was charged Feb. 19 by state police Bureau of Criminal Investigations Western Task Force with deceptive or fraudulent business practices, theft by deception, bad checks and theft. The charges were filed at the office of District Judge David Mark.

LoCastro is accused of failing to give full payment of $20,000 for the 2005 Lexus that Kenneth Homerosky of North Franklin Township was selling.

According to court documents filed with Mark, Homerosky talked with All Pro employee DJ Logue about selling the Lexus on Sept. 28. They reportedly agreed that All Pro Auto would sell the car and give Homerosky $20,000 by Oct. 1.

When Homerosky went to the dealership to get his money, he was reportedly told they needed more time to sell the vehicle. On Oct. 6, Homerosky received a check for $19,500. When he tried to cash the check, it was returned for insufficient funds. Logue talked to LoCastro about the check. LoCastro reportedly said the check was OK; however, when Homerosky attempted to cash it, the check was again returned for insufficient funds.

Logue told police that LoCastro did not want to buy the vehicle but agreed to put it on the lot. If it did not sell, the dealership would take it to an auction. LoCastro took the luxury car to the auction. Records from American Auto Auction show the car sold for $21,100. After fees, a check for $20,900 was made out to Auction Credit Enterprises and applied toward All Pro Auto's debt with the auction. Earlier this month, Auction Credit Enterprises of Irving, Texas, filed a suit in federal court against LoCastro, his wife, Kim, and LoCastro & Associates, seeking foreclosure of the dealership, claiming LoCastro is in default of a $500,000 loan obtained in December.

Homerosky eventually received $4,000 for the vehicle but attempts to recover the remaining $16,000 have been unsuccessful.

Earlier this month, Locastro was charged by state police at the Washington barracks with multiple violations including 338 counts of applications for certificate of title and more than 500 counts of violating rules for registering vehicles. He is also charged with theft by failure to make required deposit of funds and tampering with public records.

LoCastro also faces charges filed last year in federal and Washington County courts.

In December, LoCastro was indicted in federal court for allegedly using another person's personal information to obtain financing for nine luxury cars.

A preliminary hearing for both sets of charges filed against LoCastro is set for March 18 before Mark.

[fung_derf]

If you feel up to it, you can look into this guy as well...

http://www.anthonyholdings.com/

Bought a house from Vinnie for a dollar. Pretty nice house too!

[fung_derf]

I found him. Robert M. Arnoni.
I'd love to see what you can come up with. Long ago I found some pretty interesting ties.

[dia duit]

Amazing how little he has been fined for all his scams

This 2005 article below has Vince paying a total of $41,000 for a guy who scammed people for millions.

I wonder if they are also looking into the three arson fires at All Pro. mretgnol on the CMKX board said there may be a charge for his unlawful use of a police badge and that Locastro's home is for sale.

do you recall the guy from Youngstown that was also involved along with Vinny and Ray Anthony? I seem to recall his first name was Robert

I remember something about that. Could you refresh my memory? There's the Rock Hill Bank incident, too. If I recall some of that money ended up in Italy.


Call 4 Action learned that in 2002, LoCastro and others were charged with civil fraud by the Securities and Exchange Commission for misrepresenting All Pro's business potential to possible investors. He voluntarily paid a $25,000 fine and did not admit wrongdoing.

Pennsylvania State Police say LoCastro has paid roughly $16,000 in fines since 2001 for citations issued mostly for paperwork violations at his automobile business. Police say the first two citations involved more than 140 customers.

http://www.thepittsburghchannel.com/call4action/4432679/detail.html


By Kathie O. Warco
Staff writer

[e-mail]

A state police fire marshal said arson damaged a sport utility vehicle early Friday at All Pro Auto Mall on South Central Avenue, Canonsburg.

Canonsburg police are not certain whether the suspect had plans to set more fires after finding a gasoline can outside the temporary offices of the dealership.

A man riding his motorcycle in the area about 2:57 a.m. smelled smoke and saw the fire, said police Chief R.T. Bell.

Canonsburg found a 2003 Ford Expedition with its front tire, quarter panel and hood on fire. Chartiers Township police Sgt. Charles Harton used a fire extinguisher to put out the fire until Canonsburg firefighters arrived to take over the scene.

Canonsburg police Officers James Saieva and Carl Fetcko could see a pour pattern on the right side of the vehicle. A burned match was on the roof. The vehicle had been purchased Wednesday at the Butler Auto Auction.

Police checked the dealership. A rolled-up sticker that had fallen off a gasoline container was found in the lot. Found inside the bed of a pickup truck parked two blocks away from the burning vehicle was a motor oil can containing gasoline.

A gasoline spout along with a plastic gasoline container was found in front of the trailer used as an office.

"We don't know if they planned to set the building on fire," Bell said.

Police also found a half-dozen vehicles in the lot sprayed with red paint.

The owner of the dealership, Vince LoCastro, told police that he was unaware of any specific vendetta, but did provide the names of three people who were giving him problems about their vehicles.

This is the third arson at the dealership in just over three years. In June 2004, two fires on consecutive days destroyed the offices and several vehicles. That investigation was turned over to the federal Bureau of Alcohol, Tobacco, Firearms and Explosives. No arrests were made.

Anyone with information on Friday morning's fire or who saw suspicious activity in the area may call Canonsburg police at 724-745-8020, ext. 39, or state police at 724-223-5200.

Copyright Observer Publishing Co.

[fung_derf]

Amazing how little he has been fined for all his scams. How in heck is he not in jail?
Hey, do you recall the guy from Youngstown that was also involved along with Vinny and Ray Anthony? I seem to recall his first name was Robert.

[dia duit]

Where's AlanC to explain it's all the SEC's fault?

LOL AlanC and friends don't care to discuss the subject on the RB SRCI board.

Everything seem to fall apart for Vince when he testify before the grand jury for the Pettit case in March 08.

http://www.observer-reporter.com/OR/Story/03-07-grand-jury-day-2

Vincent Lo Castro, owner of All Pro Auto Mall, 108 S. Central Ave., remained behind the closed doors of the grand jury room on the seventh floor of the federal building in Pittsburgh from early in the morning until about 1 p.m.

When leaving, Lo Castro, 43, identified himself and confirmed he testified before the grand jury. However, he would not give details of that testimony.

http://www.observer-reporter.com/or/washnews/12-30-2009-LoCastro-indictment

Early in 2008, LoCastro agreed to comply with a state consumer protection law regarding some cars that were improperly sold through the dealership. State Attorney General Tom Corbett had filed claims that LoCastro violated fair trade practices, consumer protection laws and Pennsylvania auto regulations.


http://www.justice.gov/usao/paw/pr/2009_december/2009_12_29_02.html

By: carmelbeach
04 Jan 2010, 04:40 AM EST
Rating: Msg. 1183998 of 1183998
Jump to msg. #
LoCastro Fined + Reprimanded re Dealer License

http://www.dos.state.pa.us/bpoa/lib/bpoa/disciplinary_actions/2008/disciplinary_actions_march-july_08.pdf

PENNSYLVANIA DEPARTMENT OF STATE
BUREAU OF PROFESSIONAL AND OCCUPATIONAL AFFAIRS

DISCIPLINARY ACTIONS
March – July 2008

PA Board of Vehicle Manufacturers, Dealers and Salespersons

[page 63]

Washington County
Vincent A. Lo Castro t/d/b/a All Pro Auto Mall, license nos. MV089587L and VD025080 of Canonsburg, Washington County, was ordered to pay a civil penalty of $4,050, because All Pro Auto Mall conducted business under a name other than the one in which it is registered and at a location other than the one which is authorized. Also, a formal reprimand was placed on the permanent licensure record of Vincent A. Lo Castro for license number MV089587L. (06/06/08)

[fung_derf]

Where's AlanC to explain it's all the SEC's fault?

[dia duit]

All Pro Auto Mall owner indicted

12/30/2009 3:33 AM

By Linda Metz, Staff writer
[e-mail]

A Canonsburg auto dealer was indicted Tuesday for allegedly using another person's personal information to obtain financing for nine luxury cars.

Vincent A. LoCastro, 46, of McMurray, faces identity theft charges for allegedly using the name, date of birth and Social Security number of "a person known to the grand jury" to acquire loans that resulted in four banks losing more than $330,000.

According to federal prosecutors, LoCastro obtained the loans while doing business as owner of All Pro Auto Mall, 116 1/2 S. Central Ave.

Further details on the alleged crime were not available. However, Assistant U.S. Attorney Nelson P. Cohen, who presented the case to the grand jury, said the law provides for a maximum total sentence per count of 15 years in prison, a fine of $250,000 or both. LoCastro testified before the grand jury in March 2008.

State police and U.S. postal inspectors conducted the investigation leading to the indictment.

Early in 2008, LoCastro agreed to comply with a state consumer protection law regarding some cars that were improperly sold through the dealership. State Attorney General Tom Corbett had filed claims that LoCastro violated fair trade practices, consumer protection laws and Pennsylvania auto regulations.

The filing said his company misrepresented the condition of advertised vehicles and collected deposits for online auctions but failed to return them when purchasers did not complete a transaction. After LoCastro & Associates was removed as a qualified seller on eBay Motors, the company did not disclose its interest in vehicles offered for sale by using the name of an unrelated Pennsylvania dealership.

LoCastro signed a voluntary compliance agreement and paid $11,607 in civil penalties, the cost of investigation and filing fees and has returned deposits or security collected from consumers who canceled or breached sales contracts.

LoCastro remains free on a recongizance bond while he awaits trial on hundreds of charges filed by state police claiming fraudulent business practices at the dealership in 2007 and 2008.

LoCastro was charged in January. A trial date is scheduled for next month before Washington County Judge Janet Moschetta Bell.

In 2002, the Securities and Exchange Commission accused LoCastro and another executive of Pinnacle Business Management Inc., based in Clearwater, Fla., of misleading investors into buying Pinnacle's penny stock. LoCastro agreed to a settlement in which he was sanctioned but admitted no wrongdoing.

In recent years, All Pro Auto Mall has sustained more than $1 million in damages from three fires that investigators determined to be arson.

http://www.observer-reporter.com/OR/Story/12-30-2009-LoCastro-indictment


McMurray man indicted on identity theft charges
Wednesday, December 30, 2009
Pittsburgh Post-Gazette

A federal grand jury yesterday indicted a McMurray man for allegedly obtaining another person's credit to get more than $330,000 in financing.

Vincent A. Locastro is charged with nine counts of identity theft.

According to prosecutors, he used the name, date of birth and Social Security number of another person to get financing for nine luxury automobile loans.

The banks involved in the alleged fraud lost more than $330,000, the indictment said.

http://www.post-gazette.net/pg/09364/1024429-53.stm

[Stock]

The board ought to be moved to a Talk category so that it is preserved -- like a dead fossil.

[scion]

Recidivist Securities Law Violator Jeffrey G. Turino Held in Contempt; Ordered to Pay $9.95 Million; Permanently Banned From Participating In Penny Stock Offerings

Litigation Release No. 21094 / June 22, 2009

Securities and Exchange Commission v. Pinnacle Business Management, Jeffrey G. Turino, et al., No. 8:02CV-822-T-17 (EAK) (M.D. Fl. June 16, 2009)

Recidivist Securities Law Violator Jeffrey G. Turino Held in Contempt; Ordered to Pay $9.95 Million; Permanently Banned From Participating In Penny Stock Offerings

The Securities and Exchange Commission today announced that, on June 16, 2009, the Honorable Elizabeth A. Kovachevich, United States District Judge for the Middle District of Florida, entered an order of civil contempt against defendant Jeffrey G. Turino. In addition to finding Turino in contempt, the Court ordered him to pay $9.6 million in disgorgement, plus $348,423.24 in prejudgment interest, and permanently banned him from participating in any penny stock offering.

In her ruling, Judge Kovachevich found that the Commission had demonstrated by clear and convincing evidence that Turino acted in flagrant and repeated contempt of the penny stock bar that she had imposed against him in December 2003 in connection with a previous Commission enforcement action brought against Turino in May 2002. In that action, the Commission had alleged that Turino, one of his associates, and the penny stock company they operated, Pinnacle Business Management, Inc., had committed securities fraud by making materially false and misleading statements about Pinnacle's business operations. Turino settled this enforcement action by consenting to the entry of a permanent fraud injunction, a permanent officer and director bar, payment of a $60,000 civil penalty, and a five-year penny stock bar.

In its motion to hold Turino in contempt, the Commission outlined its evidence that Turino had violated the five-year penny stock bar by, first, spearheading the reverse merger in 2004 of a penny stock issuer and arranging the resulting penny stock offering and, second, by using two nominees, one a former exotic dancer whom he had been dating, and the other a former nightclub manager, to participate in penny stock offerings by four other issuers during 2006 through 2008. Turino gave detailed instructions to his nominees to create corporations, open bank and brokerage accounts, buy, sell, and transfer billions of shares of penny stock companies, and deposit, withdraw, and distribute millions of dollars worth of penny stock proceeds to his friends and family. Altogether, Turino improperly obtained at least 3.5 billion shares of penny stocks. He subsequently sold at least 1.8 billion of these shares into the U. S. securities markets, generating approximately $9.6 million in ill-gotten proceeds.

For additional information, see below:
Litigation Release No. 20830 (December 15, 2008) (filing of contempt proceeding against Turino)

Exchange Act Release No. 34-58271 (July 31, 2008) (suspension of trading in the securities of Global Diamond Exchange, Inc.)

Exchange Act Release No. 34-55420 (March 8, 2007) (suspension of Trading in the securities of Equitable Mining Corp.)

Litigation Release No. 18506 (December 15, 2003) (settlements with Turino, Lo Castro and Pinnacle Business Management, Inc.)

Litigation Release No. 17507 (May 8, 2002) (filing of enforcement action against Turino, Lo Castro, and Pinnacle Business Management, Inc.)



http://www.sec.gov/litigation/litreleases/2009/lr21094.htm

[Susie924]

I did check your posts and saw that you had posted on the Survivor board in the past.

I enjoyed this one because there were so many blind sides.

I thought that Sugar pretty much gave the win to Bob though.

[dia duit]

I already posted the SEC action on derf's board.

Susie, thank you for posting. It doesn't matter if fung sees it or not. The board is a good reference for the shenanigans that took place.

You may have seen me posting in the past on the BB and Survivor boards. I must admit I didn't enjoy Survivor as much this season. I felt from the beginning there was no favorite to cheer for, and it carried on through out the season, imo.