Mount Sinai Man Sentenced For Fraudulent Investment Scheme

Mount Sinai Man Sentenced For Fraudulent Investment Scheme

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Suffolk County District Attorney Tim Sini (D). File photo

A Mount Sinai man was officially sentenced in Suffolk County Supreme Court Wednesday, Aug. 26 for an alleged scheme to defraud people about a fake recycling plant in upstate New York.

Between August 2010 and November 2017, the Suffolk County District Attorney’s office said Joseph Prosa, 53, of Mount Sinai, operated a money-making scheme where he claimed to victims that he was seeking investments to build a recycling facility in Poughkeepsie, telling them he owned land for the facility, that he had a permit and that he was a recycling and plant construction expert for a process called “gasification,” or the process of burning garbage for use in things like boilers furnaces and gas engines. Prosecutors said none of this was true. 

Through the scheme, Prosa stole around $3.6 million from a blind Poughkeepsie man in his 80s. The man has since passed away. He also allegedly stole around $250,000 from a second victim who resides in Suffolk County. Both victims were previous acquaintances of Prosa’s, the DA’s office said.

“This was a grossly deceitful scheme in which the defendant stole millions of dollars from his victims, including a senior citizen who was robbed of his life savings,” District Attorney Tim Sini (D) said. “He operated this scheme out of pure greed and callousness.”

The DA said the investigation revealed Prosa used the stolen money on personal expenses, including using more than $1.2 million in casinos and racehorse gambling. An additional amount was used to purchase a racehorse. The defendant also used the stolen funds to repay large amounts of debt incurred by gambling and to pull his house out of foreclosure.

Prosa was indicted in December 2018 and he pled guilty May 18, 2019.

Prosa was sentenced by Acting Suffolk County Supreme Court Justice Fernando Camacho for first degree grand larceny and first degree scheme to defraud. The sentence incurs 2 ½ years to 7 ½ years for the grand larceny and 1 to 3 years for the scheme to defraud. The sentences will run concurrently.

The case was prosecuted by Assistant District Attorney Thalia Stavrides, currently of the Conviction Integrity Bureau.