NEW ORLEANS – John Sposato, a 72-year-old resident of Kiln, Mississippi, entered a guilty plea on January 18 to a charge of conspiracy to commit bank fraud. The plea was made before United States District Judge Eldon E. Fallon, as announced by U.S. Attorney Duane A. Evans.
Court documents reveal that Sposato, after his release from prison on August 9, 2022, began a three-year supervised release period. During this time, he falsely claimed to be the president of several non-operational companies, including Pegasus Consulting and Development, LLC. Utilizing Pegasus Consulting, he opened an account at Keesler Federal Credit Union. On March 27, 2023, Sposato attempted to deposit a counterfeit $10,000 check obtained from an accomplice. This check was falsely attributed to a volunteer-run, non-profit organization supporting a Florida public library.
Upon inquiry, Sposato misled a U.S. Probation Officer, stating the check was for consulting services, a claim later proven false. His actions risked civil liability and financial loss for Keesler Federal Credit Union.
Sposato now faces a sentence of up to five years in prison, a maximum of three years of supervised release, a potential fine of up to $250,000, and a $100 mandatory special assessment fee. The sentencing date before Judge Fallon is pending.
