Cazenovia Man Pleads Guilty to Wire Fraud and Aggravated Identity Theft

SYRACUSE, NEW YORK - Dean Dellas, age 41, of Cazenovia, New York, pled guilty on February 26, 2026, to wire fraud and aggravated identity theft. First Assistant United States Attorney John A. Sarcone III and Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office of the Federal Bureau of Investigation (FBI), made the announcement.

As part of his guilty plea, Dellas admitted that beginning no later than June 2021 through November 2023, he acted as a financial advisor for the investment accounts of clients in the Syracuse area. Dellas fraudulently induced those clients to sign paperwork that authorized Dellas to take advisor fees from their accounts well in excess of what they actually agreed to. For other accounts, Dellas fraudulently induced the clients to sign paperwork granting him trading and withdrawal authority over their accounts. This account-opening paperwork misrepresented Dellas's relationship to the clients and falsely stated that Dellas received no compensation for providing investment advice. The account-opening documents that Dellas induced the clients to sign also falsely stated that the client wanted to engage in high-risk forms of investment, according to the indictment. Dellas further admitted that to conceal the fraud, he took steps to conceal account statements from his clients and at times impersonated clients in communicating with brokerage firms. Dellas admitted that he stole approximately $686,000 from his victims through unauthorized withdrawals and advisor fees.

First Assistant United States Attorney John A. Sarcone III stated, "Dean Dellas's greed knew no bounds. He abused the trust of his clients and used their hard-earned retirement dollars as his own personal piggy bank. Thanks to our dedicated law enforcement partners, he is being held accountable so we may get justice for the victims of his crimes."

Craig L. Tremaroli, Special Agent in Charge of the Albany Field Office stated, "Mr. Dellas abused his position as a financial advisor to callously steal from clients who trusted him with their investments. The FBI takes our responsibility to investigate those who commit fraud for personal gain very seriously, which is why Mr. Dellas is now heading to federal prison. We will continue working with our law enforcement partners to hold accountable those who use illegal means and criminal behavior to take advantage of others."

Sentencing is scheduled for June 22, 2026, before United States Chief District Judge Brenda K. Sannes. Dellas faces at least two years and up to 22 years in federal prison, and a maximum fine of $250,000. The charges also carry a term of supervised release of up to 3 years. As part of his plea, Dellas agreed to pay restitution to the victims of his crimes. A defendant's sentence is imposed by a judge based on the particular statutes the defendant is charged with violating, the U.S. Sentencing Guidelines and other factors.

FBI is investigating the case. Assistant U.S. Attorneys Matthew J. McCrobie and Michael F. Perry are prosecuting the case.