SYRACUSE, N.Y. — Federal prosecutors in Syracuse accuse a Cazenovia financial advisor of defrauding victims of more than $640,000.
Dean Dellas, 40, was arraigned Tuesday in federal court on charges of wire fraud and aggravated identity theft, United States Attorney John A. Sarcone III and Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation said in a prepared news release.
Prosecutors say between June 2021 through November 2023, Dellas fraudulently induced clients to sign paperwork that authorized Dellas to take advisor fees from their accounts well in excess of what they actually agreed to. For other accounts, Dellas fraudulently induced the clients to sign paperwork granting him trading and withdrawal authority over their accounts, according to the indictment. In addition, Dellas allegedly took steps to conceal account statements from his clients and at times impersonated clients in communicating with brokerage firms. The indictment accuses Dellas of stealing approximately $642,000.
The U.S. Attorney’s Office says the wire fraud charges filed against Dellas carry a maximum sentence of 20 years in federal prison and fines.
