Source: Office of United States Attorneys
ROCHESTER, N.Y.-U.S. Attorney Michael DiGiacomo announced today that Joseph Giannini, 54, of Chicago, IL, pleaded guilty before U.S. District Judge Charles J. Siragusa to conspiracy to commit wire fraud, which carries a maximum sentence of 20 years in prison and a $250,000 fine.
Assistant U.S. Attorney Kyle P. Rossi, who is handling the case, stated that in April and May 2020, Giannini submitted false applications to the Paycheck Protection Program (PPP), and Economic Injury Disaster (EIDL) loan programs, which were intended to provide funding to businesses that were negatively impacted by the COVID-19 pandemic. Giannini applied for seven fraudulent loans for various businesses, making false representations about profits and employee payrolls for those businesses. In total, Giannini applied for $606,635.00 in loans, for which he was actually paid $280,135.00. One of the fraudulent applications was submitted on behalf of the Rochester business Spin Marketing Inc., which is owned by co-defendant Ann Spinosa. Spinosa is currently charged by federal indictment.
The plea is the result of an investigation by the Internal Revenue Service Criminal Investigations Division, under the direction of Special Agent in Charge Harry Chavis.
Sentencing is scheduled for September 29, 2025, at 9:30 a.m. before Judge Siragusa.