Summary
Thomas Aaron Signorelli, a 48-year-old resident of West Palm Beach, Florida, has been sentenced to more than five years in federal prison after pleading guilty to multiple fraud-related offenses, including fraudulent COVID-19 loan applications, investor scams, obstruction of justice, and theft of government property.
Federal authorities said the schemes caused losses exceeding $1.9 million. U.S. District Judge James Donato sentenced Signorelli to 63 months in prison and ordered him to serve three years of supervised release following his release. A separate hearing will determine the amount of restitution in the case.
Major Allegations
- Fraudulent PPP and EIDL loan applications
- False statements made to investors
- Deletion of evidence during a federal investigation
- Money laundering conspiracy
- Theft of funds believed to be linked to drug trafficking
Fraudulent COVID Loan Applications and Investor Schemes
According to court records, Signorelli was charged by Information on September 19, 2024. He later pleaded guilty on November 25, 2024, to several offenses, including bank fraud, wire fraud, conspiracy to commit wire fraud, theft of government property, obstruction of justice, and money laundering conspiracy.
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As part of his plea agreement, Signorelli admitted that he caused applications to be submitted for a Paycheck Protection Program (PPP) loan and an Economic Injury Disaster Loan (EIDL). Prosecutors stated that the applications contained false information regarding the number of employees and annual revenue associated with a company under his control.
The loans totaled $61,725 and were never repaid.
Federal authorities also said Signorelli participated in two separate fraud schemes involving prospective investors. According to court documents, false statements were made to individuals in an effort to obtain investment funds.
Investigators stated that these schemes generated hundreds of thousands of dollars from investors who relied on the representations being made. The conduct formed part of a broader fraud operation that ultimately caused losses exceeding $1.9 million.
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Obstruction of Justice
The investigation uncovered additional criminal conduct involving the destruction of evidence and unlawful handling of funds.
According to the plea agreement, law enforcement officers obtained a search warrant authorizing a search of Signorelli’s mobile phone. Before investigators could review the contents, Signorelli admitted deleting WhatsApp messages exchanged with a co-conspirator.
Federal prosecutors said Signorelli knew the messages contained evidence connected to criminal activity. The deletion of those communications resulted in the obstruction of justice charge.
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Theft of Government Property
Authorities also revealed details of a separate incident involving money that Signorelli believed was derived from drug trafficking. Court documents state that an individual who was later identified as an undercover law enforcement agent provided funds for what was presented as a money laundering transaction.
Signorelli admitted receiving $150,000 that he believed represented proceeds from illegal drug activity. However, instead of laundering the money, he kept the funds.
Federal authorities said the combined losses from the various fraud schemes totaled more than $1.9 million.
United States Attorney Craig H. Missakian, FBI Acting Special Agent in Charge Matt Cobo, and IRS Criminal Investigation Oakland Field Office Acting Special Agent in Charge David Lowe announced the sentencing.
The case was prosecuted by Assistant U.S. Attorney Patrick O’Brien with assistance from Lynette Dixon and Mimi Lam. The investigation was conducted by the FBI and IRS Criminal Investigation.
Judge James Donato ordered that Signorelli begin serving his 63-month prison sentence immediately. A separate court hearing will determine the amount of restitution to be paid in connection with the losses caused by the offenses.