U.S DEPARTMENT OF TREASURY EMPLOYEE CHARGED WITH FRAUD

Twenty-Count Indictment Alleges Theft of More Than $500,000

WHEATON - DuPage County State’s Attorney Joe Birkett announced today that Vincent Arena, 52 (d.o.b. 10/31/1956) of 1070C Heritage Hill Drive, Naperville, has been charged with defrauding the All Saints Catholic Academy in Naperville and several financial institutions out of more than $500,000.  The twenty-count indictment, which was returned today against Arena, includes two counts of Loan Fraud, four counts of Financial Institution Fraud, two counts of Wire Fraud, ten counts of Forgery, one count of Continuing a Financial Crimes Enterprise and one count of Theft in excess of $500,000.

            In November, 2007, Arena, a National Bank Examiner for the United States Department of Treasury, created a fictitious check from a financial institution in Rosemont, Illinois.  Arena allegedly then forged the signature of the financial institution’s president and issued the check to All Saints Catholic Academy to assist in the renovation of a campus building.  Upon realizing the check was counterfeit, officials at All Saints Catholic Academy contacted the State’s Attorney’s Office.  An investigation into the matter resulted in the charges against Arena involving All Saints Catholic Academy as well as additional charges against Arena involving several financial institutions approximately one year earlier.  According to the indictment, In July 2006, Arena, devised a scheme to obtain money by means of false representations.  Arena allegedly transmitted by wire a forged court order with a DuPage County case number representing that he was awarded a judgment for $805,000; this forged document was then presented to a finance corporation in conjunction with a residential  home loan, which was then approved in an amount in excess of $500,000.

  “If these allegations are proven to be true, Mr. Arena created false documents and altered official court documents in an attempt to line his pockets and purchase a home at the expense of others,” commented Birkett.  “As I have said before, white collar crime is sometimes difficult to uncover.  The accused often times is very knowledgeable about finances and knows how to cover their tracks.  I would like to thank officials at the All Saints Catholic Academy bringing this matter to our attention.  I would also like to thank Assistant State’s Attorney Helen Kapas-Erdman and Dave Hamm from my Investigations unit for their work on this complicated case.”

Arena turned himself in to authorities this afternoon.  Bail was set at $200,000 with 10% to apply. 

Members of the public are reminded that these complaints contain only charges and are not proof of the defendant’s guilt.  A defendant is presumed innocent and is entitled to a fair trial in which it is the government’s burden to prove his or her guilt beyond a reasonable doubt.

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