Niagara Falls business owner pleads guilty to bank fraud

BUFFALO, N.Y. (WIVB) — The owner of Niagara Falls’ Electro-Dyn Choke Corporation could face 30 years behind bars after admitting to bank fraud.

Timothy DePetris, 46, made the admission in court Wednesday.

U.S. Attorney MaryEllen Kresse says DePetris caused payroll checks to be issued to him and one other person even though there was not enough money in the company’s M&T Bank account to cover the checks.

Because of this, the bank lost more than $177,000.

Along with jail time, DePetris could also face a $1,000,000 fine when sentenced in March.

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