A Greensburg man pleaded guilty yesterday to stealing more than $354,072 from the Chestnut Ridge Golf Resort and Conference Center in Burrell Township while he was the resort’s chief executive and finance officer.
In U.S. District Court in Pittsburgh, 53-year-old Rocco Panucci admitted guilt to wire fraud and income tax evasion. The investigation led by the Internal Revenue Service uncovered evidence that Panucci spent the money to pay for travel, leisure, and entertainment, as well as his children’s college tuition while he was employed at Chestnut Ridge between 2007 and 2012. He hid his actions by having the company’s credit card bills diverted to his home and then falsifying the expenditures to make them appear to be legitimate.
Panucci was fired after his improper spending was discovered. He is free on bond, with sentencing before U.S. District Judge Arthur J. Schwab scheduled for April 4th next year.
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