Rochester Man Arrested and Charged with Commodities Fraud

ROCHESTER, NY—U.S. Attorney William J. Hochul, Jr. announced today that John A. Zdanecis, 77, of Rochester, New York, was arrested and charged by criminal complaint with commodities fraud. The charge carries a maximum penalty of 25 years in prison, a $250,000 fine, or both.

Assistant U.S. Attorney John J. Field, who is handling the case, stated that according to the complaint, from 2003 through 2010, Zdanecis defrauded two investors in a commodity pool that he operated under the name of Comtra Limited. The defendant promised to invest their money in commodities but instead used it for his personal and business expenses. The complaint further states that Zdanecis concealed his scheme by providing fake account statements to the clients which misrepresented their holdings and the disposition of their money. The two investors lost a total of $160,000.

The arrest today is the result of investigative efforts by special agents of the Federal Bureau of Investigation, under the direction of Special Agent in Charge Christopher M. Piehota.

The defendant is due back in court for further proceedings on October 4, 2012, at 9:00 a.m.

The fact that a defendant has been charged with a crime is merely an accusation, and the defendant is presumed innocent until and unless proven guilty.