Brighton Man Pleads Guilty to Defrauding Investors

ROCHESTER, NY—U.S. Attorney William J. Hochul, Jr. announced today that John Zdanecis, 78, of Brighton, New York, pleaded guilty before U.S. District Judge Charles G. Siragusa, to mail fraud. The charge carries a maximum penalty of 20 years in prison, a fine of $250,000, or both.

Assistant U.S. Attorney John J. Field, who is handling the case, stated that the defendant solicited investors to participate in a commodities trading pool, Comtra Limited, that he controlled. Zdanecis then used most of the money for personal and business expenses and did not invest it in commodities as promised. To conceal his scheme, the defendant sent his investors periodic account statements that were false and misrepresented the true condition of the investments. As a result of the fraud, investors lost more than $160,000.

The plea is the culmination of an investigation on the part of special agents of the Federal Bureau of Investigation, under the direction of Acting Special Agent in Charge Richard M. Frankel.

Sentencing is scheduled for September 25, 2013, at 10:00 a.m. before Judge Siragusa.