A federal judge sentenced Antonio Petrosino of Union City, New Jersey, to 63 months in prison on November 5, 2026, after he pleaded guilty to wire fraud. Federal prosecutors in Newark announced the sentence the next day. They said he took about $1.1 million from people who believed he would invest their money or use it on their behalf.
The statements gave the money a paper address
According to the U.S. Attorney’s Office for the District of New Jersey, Petrosino presented himself as a financial services professional. Prosecutors said that between January 2016 and November 2024 he persuaded people to send money for investments, mortgage payments and other purposes. One older victim received false account statements showing substantial balances in investments supposedly held in her name.
The statements helped give the victims an answer to the most obvious question: where did the money go? According to prosecutors, the real destination was personal spending, including gambling, credit card bills and rent. When victims or family members asked about the money, prosecutors said, Petrosino used further assurances to conceal what had happened. The Hudson County View reported the indictment was unsealed in January 2026.
What the court ordered
Petrosino pleaded guilty on March 25 to one count of wire fraud before U.S. District Judge Stanley R. Chesler. The November sentence includes two years of supervised release after prison. Prosecutors reported a total of $1,130,406.63 in forfeiture and restitution. Their announcement does not say that the money has already been collected or paid out.
The case shows why a balance on a statement and a balance confirmed by the institution holding the money are two different things. Here, the false paperwork gave one victim the appearance of proof. The resulting federal sentence is a public record; the private financial records of the victims are not reproduced here. See Trials & Outcomes for more sentencing coverage.
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