Roanoke Times Copyright (c) 1995, Landmark Communications, Inc. DATE: FRIDAY, May 20, 1994 TAG: 9405200067 SECTION: NATIONAL/INTERNATIONAL PAGE: A4 EDITION: METRO SOURCE: DATELINE: PHILADELPHIA LENGTH: Short
U.S. District Judge John P. Fullam ordered American Precision Components Inc. to be obliterated: its cash on hand seized and all its assets sold - building, furniture, the stock on hand. Further, he ordered that no one be permitted to restart the company at any future date.
Fullam's actions were believed to be the first use of a 1991 federal sentencing law that allows judges to put out of business companies found to have been used primarily for criminal purposes.
Fullam gave David D'Lorenzo, 39, of Whitestone, N.Y., the maximum sentence allowed under federal guidelines. D'Lorenzo had already forfeited $2.2 million in cash, his 1992 Porsche convertible and his 1993 GMC Typhoon four-wheel-drive vehicle.
D'Lorenzo's was the first case to result from a sting run in 1990 and 1991 by federal agents. American Precision sold them ordinary commercial fasteners instead of the special, hardened aerospace-grade hardware that had been ordered.
|- Knight-Ridder/Tribune
by CNB