Former Niagara Falls businessman to pay back $177k for bank fraud

BUFFALO, N.Y. (WIVB) — A former businessman from Niagara Falls who pleaded guilty to bank fraud has been sentenced and will be forced to pay restitution.

Federal officials say Timothy DePetris was sentenced on Thursday to 27 months in prison, along with restitution of just over $177,500 after he pleaded guilty to bank fraud.

DePetris, a 46-year-old Niagara Falls man, formerly owned Electro-Dyn Choke Corporation, admitted to issuing payroll checks to himself and another person despite knowing his business didn’t have the money to back the checks.

The checks totaled just over $177,500, a complete loss to M&T Bank.

DePetris pleaded guilty to the crime in October of 2015. DePetris is currently serving time for the attempted murder of his brother over a business dispute. 

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