Overview
- Agnello, who was sentenced Monday in federal court on Long Island, received a 15-month prison term for wire fraud tied to pandemic relief loans.
- The judge ordered $1,268,302 in restitution, two years of supervised release, 100 hours of community service, and treatment for gambling and mental health, with self-surrender set for July 20.
- Prosecutors sought 33 to 41 months and rejected pleas for leniency linked to a planned kidney donation to his mother, which the judge considered but did not accept.
- Between April 2020 and November 2021, he obtained at least three SBA Economic Injury Disaster Loans for Crown Auto Parts & Recycling using false claims and diverted about $420,000 into a cryptocurrency venture.
- The case underscores how rapid COVID aid programs like EIDL were vulnerable to fraud, prompting courts to stress recovery of taxpayer funds and compliance after sentencing.