YOUNGSTOWN, Ohio (WKBN) — Youngstown developer Dominic Marchionda has been indicted on over 100 criminal charges.
The charges came after police raided Marchionda’s Poland home in March, taking out several boxes of financial records.
Marchionda is the CEO of NYO Property Group.
NYO owns several buildings in downtown Youngstown, including Erie Terminal Place, the Flats at Wick and Realty Tower. The property group is also working to renovate the historic Stambaugh Building to turn it into a hotel.
According to the indictment, Marchionda operated a Ponzi scheme so that he could funnel government money to “continue to live his lavish lifestyle and enrich himself.”
According to the indictment, the charges are related to an investigation of a misuse of Youngstown water fund money and Float Loan monies during the Flats at Wick, Erie Terminal and Wick Tower projects.
Marchionda is accused of using thousands of dollars on personal items using money obtained through grants, according to the indictment. The indictment says Marchionda also accused submitted falsified payroll sheets to obtain funding for projects.
He’s also accused of taking money from The Par Golf Tournament/Rich Center for Autism.
Marchionda faces the following charges:
- One count of Engaging in a Pattern of Corrupt Activity, a felony of the first degree
- Three counts of Aggravated Theft, felonies of the first degree
- One count of Aggravated Theft, a felony of the second degree
- 65 counts of Money Laundering, felonies of the third degree
- 15 counts of Tampering with Records, felonies of the third degree
- Eight counts of Telecommunications Fraud, felonies of the third degree
- Two counts of Receiving Stolen Property, felonies of the third degree
- Two counts of Receiving Stolen Property, felonies of the fourth degree
- One count of Receiving Stolen Property, a felony of the fifth degree
- One count of Falsification, a felony of the third degree
- One count of Attempted Grand Theft, a felony of the fourth degree
- One count of Attempted Securing Writing by Deception, a felony of the fourth degree
- One count of Theft, a felony of the fifth degree
Also charged are Rubino Construction Inc., U.S. Campus Suites, Erie Terminal Place, LLC, Wick Properties, LLC and Villas di Tuscany.
The businesses face charges including theft, money laundering and tampering with records. The crimes happened from September 2009 to October 2015, according to the indictment.
Auditor Dave Yost said the investigation has been ongoing for more than two years.
“What our investigators found is deeply disturbing,” he said.
The indictment also mentions other people involved in the alleged conspiracy, listing them only as “John Doe.”
The case is being investigated by the Ohio Auditor of State’s Public Integrity Assurance Team with the assistance of the Mahoning County Sheriff’s Department. The Ohio Attorney General’s Office is serving as a special assistant prosecutor with Mahoning County in this case.