Vincent Arena, 52, Naperville, Illinois, was sentenced to four years for fraud and forgery according to media reports.
Arena pled guilty to loan fraud, financial institution fraud, forgery and other financial crimes. Arena‘s guilty plea stemed from allegations that in late 2007, Arena, a National Bank Examiner for the United States Department of Treasury, created a fictitious check from a financial institution in Rosemont, Illinois. Arena then forged the signature of the financial institution’s president and issued the check to All Saints Catholic Academy to assist in the renovation of a campus building. An investigation into Arena revealed that approximately one year earlier Arena allegedly transmitted by wire a forged court order with a DuPage County case number representing that he was awarded a judgment for $805,000; this forged document was then presented to a finance corporation in conjunction with a residential home loan, which was then approved in an amount in excess of $500,000. In all, Arena plead guilty to one count of Loan Fraud, one count of Financial Institution Fraud, one count of Wire Fraud and two Counts of Forgery.
DuPage County State’s Attorney Joe Birkett made the announcement.
“White collar crime continues to be a top priority of my office,” commented Birkett. “Every year millions of dollars are stolen from businesses from trusted employees. As I have said many times before, white collar crime is not a victimless crime. Through his actions, Mr. Arena caused financial hardship to several financial institutions as well as officials at All Saints Catholic Academy who were, in reality, relying on non-existent funds to finance repairs to their facility. Ms. Derrickson is alleged to have stolen the identity of a Liquid Container co-worker along with considerable amount of money causing hardship for the co-worker, the company and its employees. In each of theses cases, the accused believed they could line their own pockets at the expense of others. I would like to thank Assistant State’s Attorney Helen Kapas-Erdman for her work on these very complicated cases.”