A former Schuylkill County man is accused of defrauding a local bank in order to purchase a Dodge Charger.
Court documents show that police in Pottsville received a call from a loan manager at CACL Federal Credit Union in July regarding a potential case of fraud.
The manager told police that Nicholas Sparacino, 25, had come into the bank recently and took out a $28,000 loan to purchase a Dodge Charger.
Records showed that Sparacino was paying between $2,000-3,000 per day on the loan and paid off the vehicle. When the vehicle was paid off, CACL gave Sparacino the title for the vehicle.
However, CACL soon learned that the payments Sparacino was making from his bank account were coming back showing insufficient funds.
Multiple attempts were made to contact Sparacino – who previously had an address in Sacramento, Schuylkill County, but supposedly resides in Statesville, North Carolina, now – but were unsuccessful.
Police in Pottsville say they were called after the bank was having a hard time reaching Sparacino. Eventually, they were able to reach him and he reportedly said that he’s attempting to make the loan payments now but he’s in between jobs.
Sparacino was given some time to get things worked out with his job and financial situation. He reportedly called CACL once and arrangements were made to pay off the loan.
The bank recently reported to police that Sparacino no longer calls and has not relayed to them how future payments on the loan will be made.
Sparacino still has the title to the Dodge Charger but the bank is now out $28,000, police say.
A warrant has been issued for Sparacino’s arrest. He’s been charged with felony theft by deception and misdemeanor counts of bad checks and defrauding a secured creditor.
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