A Mississippi man, John Sposato, age 73, has been sentenced to a total of 16 months behind bars for his role in a conspiracy to commit bank fraud and for violating the terms of his supervised release. U.S. Attorney Duane A. Evans announced the sentencing following Sposato's guilty plea to the federal charges, as reported by the U.S. Attorney's Office.
According to a press release from the U.S. Attorney's Office, Sposato was given 10 months imprisonment and three years of supervised release by United States District Judge Eldon E. Fallon, on February 6, 2025. In a separate case, Sposato received an additional six-month sentence, served consecutively, from United States District Judge Susie Morgan for supervisory violations stemming from a previous conviction.
During his period of supervised release, which began around August 9, 2022, Sposato purported himself as the President of non-functional companies like Pegasus Consulting and Development, LLC. It was through this purported company that Sposato tried depositing a bogus check from an all-volunteer, non-profit organization supportive of a Florida library. The attempt could have caused significant financial loss and civil liability to Keesler Federal Credit Union, had the fraudulent act succeeded, as per the U.S. Attorney's Office.
"SPOSATO’s attempted deposit placed Keesler at risk of both civil liability and financial loss," the U.S. Attorney's Office statement pointed out, indicating the potential consequences of the defendant's actions. When questioned by a United States Probation Officer over the validity of the check, Sposato falsely claimed it was for consulting services—a claim that was later proven to be completely unfounded, and he was well aware of that fact.
In the investigation of Sposato's activities, the roles of the United States Probation Office and Federal Bureau of Investigation were highlighted by U.S. Attorney Evans for their work in uncovering the fraud. Assistant United States Attorney Jordan Ginsberg, of the Public Integrity Unit, led the prosecution, as noted in the court documents.
