Home > Boards > US OTC > Delisted > Pinnacle Business Management (Prev SRCI)

Former car dealer LoCastro and family facing fraud charges

Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
dia duit  Member Profile
Followed By 4
Posts 3,615
Boards Moderated 1
Alias Born 07/06/07
160x600 placeholder
Microsoft Says It Has Worked to Correct Hiring Practice 'Mistakes' After Settlement with DOJ -- Update
(Adds details) By Adriano Marchese
DOJ, Microsoft Reach Immigration-Related Discrimination Claims Settlement
Dare Bioscience Shares Rally After FDA OKs Xaciato
Top Company News of the Day
U.S. Crude-Oil Stockpiles Likely Decreased in DOE Data, Analysts Say -- Update
Zoetis Raises Quarterly Dividend by 30%, Sets $3.5 Billion Buyback
Raytheon Technologies Plans New $6 Billion Stock Buyback
Omicron Can Partially Evade Vaccines Protection, According to South African Lab Tests
Soybeans Slide as EPA Cuts Fuel-Blending Targets -- Daily Grain Highlights
Front Month Nymex Natural Gas Rose 1.39% to Settle at $3.7080 -- Data Talk
Front Month Nymex RBOB Gasoline Rose 2.77% to Settle at $2.1000 -- Data Talk
ServiceNow Up Over 7%, on Pace for Largest Percent Increase Since April 2020 -- Data Talk
ExxonMobil Chemical Buys Resin Maker Materia Inc.
U.S. Ethanol Production and Stocks Estimates for Dec. 3
STOXX Europe 600 Index Ends 2.45% Higher at 480.18 -- Data Talk
FTSE 100 Index Ends 1.49% Higher at 7339.90 -- Data Talk
DAX Ends 2.82% Higher at 15813.94 -- Data Talk
CAC 40 Index Ends 2.91% Higher at 7065.39 -- Data Talk
STOXX Europe 50 Index Ends 2.34% Higher at 3748.86 -- Data Talk
EURO STOXX 50 Index Ends 3.36% Higher at 4276.20 -- Data Talk
FTSE 100 Closes Up Amid Rise in Chinese Demand for Commodities
ICE Canola Weakens With Soy Complex Ahead of EPA
Amazon Web Services Appears to Be Down for Many Users -- Update
BP Buys EV Charging Provider AMPLY Power
Amazon Web Services Appears to Be Down for Many Users
U.S. Crude-Oil Stockpiles Likely Decreased in DOE Data, Analysts Say
Walt Disney Names Geoff Morrell Chief Corporate Affairs Officer
NN Group Gets EU Clearance to Buy MetLife's Businesses in Poland, Greece
Volkswagen Prepares Porsche IPO -Handelsblatt
dia duit   Friday, 05/11/12 11:06:55 PM
Re: None
Post # of 32415 
Former car dealer LoCastro and family facing fraud charges


May 11, 2012 12:25 am

By Janice Crompton / Pittsburgh Post-Gazette

A former Bethel Park car dealer and three members of his family have been charged with obtaining fraudulent loans to buy cars.

Washington County officials on Thursday announced they had charged Vincent LoCastro, 48, of Bethel Park, with two counts of corrupt organizations, two counts of conspiracy, 18 counts of theft by unlawful taking, and 18 counts of defrauding secured creditors.

Also charged were his brother Frank LoCastro, 57, of Peters, and Vincent LoCastro's two children, Nicole, 21, and Joseph, 26, who live with their father.

Frank LoCastro is charged with 69 counts of theft and conspiracy, charges that state police and the Washington County district attorney's office say involved his buying vehicles and financing them through multiple financial institutions.

From Dec. 23, 2008, to Feb. 5, 2009, police said Frank LoCastro, in conjunction with his brother, niece and nephew, used fraudulent employment and income information to obtain 19 loans totaling $509,831 from institutions including PNC, Bank of America and Huntington Bank.

After paying the first several monthly installments, court records show Mr. LoCastro subsequently defaulted on all of the loans.

Several of the banks told police they have not been able to find the vehicles to repossess them.

Nicole and Joseph LoCastro each face two counts of corrupt organizations and two counts of criminal conspiracy.

In the past three years, Vincent LoCastro has faced hundreds of criminal charges in conjunction with his former business, the All Pro Auto Mall in Canonsburg.

In November 2010, he was convicted of 27 counts of falsifying odometers and engaging in unprofessional conduct, although 572 other charges were dropped. He received 12 months probation and paid $5,695 in fines.

A year ago, he was convicted in federal court for identity theft and check-kiting charges involving a scheme to fraudulently obtain car loans for luxury automobiles and was ordered to pay $545,872 in restitution and serve three years probation.

Janice Crompton: jcrompton@post-gazette.com or 412-851-1867
First Published May 11, 2012 12:00 am

By: ibaft2006 Feb 2007 : LEO WANTA is truly a hero..
A man of uncomparable character and resolve. He is one of God's truly blessed men

By: ibaft2006 Mar 2007 Bush crime family is hard at work protecting their criminal cronies.
Public Reply | Private Reply | Keep | Last ReadPost New MsgNext 10 | Previous | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
Current Price
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist
Consent Preferences