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Philadelphia Wholesale Produce Market Official Charged with Misappropriation

03/23/2021

The Office of the U.S. Department of Justice for the Eastern District of Pennsylvania has charged Caesar DiCrecchio of stealing more than $7.8 million from the Philadelphia Produce Market over several years before he was fired in 2018.  He is charged with wire fraud, conspiracy, money laundering, identity theft, and tax evasion and faces 100 years in prison and a substantial fine.  In commenting on the arraignment, Michael J. Driscoll, special agent in charge of the FBI Philadelphia Division, stated “Stealing business funds for personal use is fraud, plain and simple, and anyone padding their paycheck like this can expect a whole lot of attention from the FBI.”

According to information released by the office of the U.S. Attorney, DiCrecchio played fast and loose with the bank account of the Philadelphia Produce Market raising false payments, skimming cash, operating kickback schemes, and padding expenses. According to the indictment DiCrecchio apparently operated the utility as a personal piggy bank


Caesar "Sonny" DiCrecchio

 

The market is a major source of fresh fruit and vegetables for the mid-Atlantic region and is now under professional management with a new board.  It is difficult to imagine how the president of a public utility could misappropriate millions of dollars over many years without detection.  The activities of DiCrecchio suggest complicit accountants, negligent auditing, and a compliant board.