press release December 22, 2014
PHILADELPHIA – Joseph N. Reilly, 69, of Philadelphia, PA, was sentenced today to 26 months in prison for with mail fraud in connection with a million dollar fraud scheme. According to the information, Reilly, who owned Joseph N. Reilly Real Estate, Inc., diverted more than $1 million in client funds to himself, between January 2009 and April 2011, defrauding approximately 50 clients. He pleaded guilty on May 29, 2014.
Reilly, through his company, acted as a property manager for his clients, collecting rent and utilities payments for owners. He also paid utility and real estate tax bills. Reilly mailed monthly statements to tenants and property owners. Reilly sent
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