United States Attorney's Office District of Connecticut
Press Release

WEST HAVEN MAN SENTENCED FOR BANK FRAUD

Kevin J. O'Connor, United States Attorney for the District of Connecticut, announced that PETER J. TRANTINO, age 46, of 110 Prospect Street, West Haven, Connecticut was sentenced today in Hartford federal court for his role in a scheme to defraud Fleet Bank. Chief United States District Judge Robert N. Chatigny noted TRANTINO's substantial assistance to the Government in the prosecution of the case and sentenced TRANTINO to three years of supervised release. Judge Chatigny further ordered TRANTINO to perform 125 hours of community service and to pay restitution in the amount of $12,000.

Information disclosed during the trial last month of TRANTINO'S co-schemer, Ralph F. Vitale, revealed that TRANTINO, a former Business Development Officer at Fleet Bank, Charles J. Hoblin, an accountant from Cheshire and Vitale, a North Haven resident, schemed to defraud Fleet Bank of $500,000. On January 25, 1996, an Easy Business Banking Loan application was submitted by TRANTINO to the Fleet Bank underwriting unit seeking a $100,000 loan for a purported business called Air Technologies, Inc. The loan was approved based upon the information in the application, and upon a corporate income tax return for Air Technologies and a personal income tax return for the purported corporate president. However, the information on the application, including the assets of the company and the purported president, was false, as were the income and expenses of Air Technologies in its corporate tax return. These figures had been fabricated by Hoblin and Vitale. In fact, Air Technologies had never engaged in business.

In addition, the name of one of Hoblin's clients was used, without the client's knowledge, as the president of Air Technologies, and the client's individual income tax return was submitted along with the application. The client's signature on the application, which was witnessed by TRANTINO, was forged. When TRANTINO submitted the loan application to Fleet's underwriting unit, he knew the information was false.

After Fleet approved the loan, Vitale, who was authorized to sign checks drawn on the Air Technologies checking account that had been opened to receive the proceeds of the loan, controlled the checkbook. Thereafter, checks were written bearing the forged signature of Hoblin's client or that of Vitale.

Between January 25, 1996, and March 29, 2996, additional similarly fraudulent loan application packages were submitted to Fleet Bank for Our Futures, Inc., Paper Technologies, Inc., Tripp Hauling and Carting, Inc., and 1st CADA, Inc. The only differences were that a relative of Hoblin was authorized to sign checks on the 1st CADA account, and a relative of Vitale could sign checks on the Our Futures account. In addition, Hoblin told one of his friends that he would use the friend's tax return in connection with a bank loan. Vitale or Hoblin drew down or attempted to draw down approximately $403,000 from the five fraudulent loans.

Hoblin pleaded guilty to his involvement in the scheme on December 13, 2001, and TRANTINO pleaded guilty on July 24, 2003. Both testified against Vitale in the trial that ended on May 11, 2004 with a jury verdict of guilty on each of the five counts of bank fraud with which Vitale had been charged. Hoblin and Vitale are awaiting sentencing.

This case was investigated by the Federal Bureau of Investigation. The case was prosecuted by Assistant United States Attorneys Calvin B. Kurimai and Lisa E. Perkins.

CONTACT:

U.S. ATTORNEY'S OFFICE
Tom Carson
(203) 821-3722
thomas.carson@usdoj.gov