Pittston Woman Sentenced to 37 Months in Federal Prison for Defrauding Individuals Through a Phony Investment Scheme

Martin C. Carlson, United States Attorney for the Middle District of Pennsylvania, announced today that Michele Antal, age 40, of Pittston, Pennsylvania, has been sentenced by United States District Judge Edwin M. Kosik to 37 months’ imprisonment for conspiracy to commit wire fraud in Lackawanna County, Pennsylvania.

According to United States Attorney Martin C. Carlson, the defendant was charged via a criminal information with conspiracy to commit wire fraud, which she pleaded guilty to on April 11, 2008.

Michele Antal, together with her sister in law Martina Antal (who was previously convicted and is serving a federal sentence of 140 months’ imprisonment) defrauded numerous victims by soliciting money for an “investment” opportunity in Germany. Victims were advised that Germany needed investments to boost the Eurodollar’s exchange rate in relation to the United States dollar after the country stopped using Deutschmark. Victims were told that any money invested was completely safe and that any investments would double within three months and earn an additional 19.99% each month for the length of the investment. The FBI determined that there was no such investment offered in Germany, and that the defendants were running a “Ponzi” scheme.

United States Attorney Carlson noted that during a sentencing hearing, Antal apologized to the victims of her crime. Judge Kosik sentenced her to a term of incarceration of 37 months, a $100 special assessment, to make full restitution to her victims in the amount of $262,320, and to be placed on supervised release for a term of three years after serving her prison sentence. Antal was ordered to pay a minimum $700 per month toward restitution as a special condition of her supervised release.

United States Attorney Carlson stated that under the United States Sentencing Guidelines currently in effect, parole has been abolished, and Antal will be required to serve at least 85% of her sentence, assuming she receives full time off for good behavior while in prison. Antal will serve her sentence at an institution designated by the United States Bureau of Prisons.

The United States Attorney wishes to remind members of the public, especially in times of financial uncertainty, that investors should be careful to confirm that they are dealing with reputable investment and security brokers, and that they carefully review any and all appropriate securities literature prior to making any investment. If it sounds too good to be true, it probably is.

This case was investigated by the Federal Bureau of Investigation and the Lackawanna County District Attorney’s Office and was prosecuted by Assistant United States Attorney Todd K. Hinkley.

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