Cazenovia Man Sentenced to 70 Months for Wire Fraud and Aggravated Identity Theft

SYRACUSE, NEW YORK - Dean Dellas, age 42, of Cazenovia, New York, was sentenced on August 26, 2026, to 70 months' imprisonment after previously pleading guilty 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 prior 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 client 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.

"Today's sentence reflects the seriousness of Dellas's conduct," said First Assistant U.S. Attorney Sarcone. "By manipulating client documents and misusing the authority he was given, Dellas undermined the integrity of the investment process and caused significant financial harm. This outcome underscores the importance of safeguarding investors and ensuring that those who misuse their positions face appropriate consequences, in this case, repaying the stolen funds and serving nearly six years in prison."

"Mr. Dellas' clients trusted him with their hard-earned money," said Craig Tremaroli, Special Agent in Charge of the FBI's Albany Field Office. "In return, he devised schemes that allowed him to steal over $680,000 from them. This sentence and order of restitution delivers the justice his victims deserve. While he heads to federal prison for nearly six years, the FBI will continue to aggressively investigate and bring to justice any individuals disguising themselves as a trusted financial advisor to take advantage of Americans."

Chief United States District Judge Brenda K. Sannes also ordered Dellas to pay restitution to the victims of the offense, in the amount of $686,797 and imposed a 2-year term of supervised release to follow his release from prison.

FBI investigated the case. Assistant U.S. Attorneys Matthew J. McCrobie and Michael F. Perry prosecuted the case.