PITTSBURGH TRIBUNE-REVIEW

Thursday, October 28, 2010

Last updated: 3:01 pm

http://www.pittsburghlive.com/x/pittsburghtrib/news/pittsburgh/s_706560.html

One of three New Castle men charged with scamming a nonprofit housing agency pleaded guilty today in federal court.

Nicholas DeRosa, 65, objected to some of the money laundering details in his plea agreement, but pleaded guilty to bank fraud, mail fraud and money laundering conspiracy in connection with a scheme that fooled Affordable Housing of Lawrence County to buy seven properties at inflated prices so that the sellers would give DeRosa a kickback.

U.S. District Judge Gustave Diamond on March 1 is scheduled to sentence DeRosa on March 1.

Charges are still pending against Anthony J. Staph Jr., but his company, Castle Realty Appraisal Services, pleaded guilty Wednesday to one count of bank fraud for supplying inflated appraisals on the seven properties. The company also is scheduled to be sentenced by Diamond on March 1.

The third man charged, Robert Ratkovich, pleaded guilty July 28, 2009, to two conspiracy charges. Affordable Housing hired Ratkovich as a consultant, and he used that position to provide false information to First Commonwealth Bank, which lent the money used to buy the properties.

Ratkovich is scheduled to be sentenced Dec. 14.