Former CEO of Pittsburgh-based business agrees to pay more than $15 million in guilty plea
The former CEO and president of Pittsburgh-based Automated Health Services has agreed to pay more than $15 million as part of a guilty plea.
Eighty-year-old Joseph W. Nocito of Sewickley pleaded guilty to one count of conspiracy to defraud the United States, District Attorney Cindy K. Chung announced Friday.
The DA’s office said Nocito fraudulently wrote off millions of dollars as business expenses against other companies he owned between 2006 and 2012.
Prosecutors said Nocito fraudulently expensed luxury purchases, such as cars, personal fitness and private school tuition.
The district attorney also noted that Nocito hid taxable income stemming from Automated Health Services under the guise that they were management, administrative or consulting expenses.
Nocito will pay $15,824,056 in restitution. His sentencing date is March 23, 2023.
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