Dean Dellas, a 40-year-old resident of Cazenovia, New York, appeared in federal court on charges of wire fraud and aggravated identity theft. The announcement was made by United States Attorney John A. Sarcone III and Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office of the FBI.
The indictment alleges that from June 2021 to November 2023, Dellas operated as a financial advisor for clients in the Syracuse area. He is accused of convincing clients to sign documents authorizing him to withdraw fees beyond what they had agreed upon. Furthermore, it is alleged that he misled clients into granting him trading and withdrawal authority over their accounts without proper disclosure of his compensation or intentions.
Dellas allegedly stole approximately $642,000 through unauthorized withdrawals and fees. To hide his actions, he purportedly concealed account statements and impersonated clients when dealing with brokerage firms.
It is important to note that these charges are accusations at this stage, and Dellas is presumed innocent until proven guilty. He has been released pending a trial scheduled later this year before Chief United States District Court Judge Brenda K. Sannes.
If convicted, Dellas faces a maximum sentence of 20 years for wire fraud and an additional two years for aggravated identity theft. There are also potential fines and supervised release terms involved.
The case is being investigated by the FBI with Assistant U.S. Attorneys Matthew J. McCrobie and Michael F. Perry handling prosecution duties.