By David Walker
George J. Rosa III, the former owner of the Hallmark Institute of Photography, the photography school in Turners Falls, Massachusetts, pled guilty March 11 to charges of bank fraud and tax evasion, according to a report by Springfield, Massachusetts, TV station WWLP.
Rosa stood accused of diverting $2.6 million in school funds for his own personal use, and then covering up the theft by recording the outlays as business expenses on the school’s books. Tax fraud charges arose from tax returns that Rosa filed on the basis of the false financial records.
Federal prosecutors said Rosa used the stolen money …read more
Via: PDN Pulse