Financial planner sentenced to prison in $2.5 million theft

Financial Planner Who Used Cranberry Mailing Address Sentenced to Eight Years in Prison for Fraud, False Tax Returns
John D. Wosotowsky is convicted of stealing about $2.5 million from clients.

Prior to imposing sentence, Cohill said this was a serious offense and—although Wosotowsky was addicted to gambling— it did not justify giving him a reduced sentence.

Center financial planner sentenced to prison in $2.5 million theft
By Pittsburgh Tribune-Review


A Monaca financial planner's gambling addiction doesn't justify his decade-long scheme to steal about $2.5 million from his clients, a federal judge ruled.

John D. Wosotowsky, 51, pleaded guilty in October to mail fraud and filing a false income tax return. U.S. District Judge Maurice Cohill sentenced him on Tuesday to 8 years and 1 month in prison and ordered him to pay $2.3 million in restitution.

Wosotowsky, who worked for MetLife Securities, told 25 people, most of whom were elderly, that he was investing their money in safe, high-return investments when he actually used some of the money for gambling and some to pay other victims what he claimed were returns on their investments, prosecutors say.




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