Dean Dellas, a 41-year-old resident of Cazenovia, New York, pleaded guilty on February 26, 2026, to charges of wire fraud and aggravated identity theft. The announcement was made by 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).
According to court documents and statements made during the plea hearing, Dellas worked as a financial advisor for clients in the Syracuse area from at least June 2021 through November 2023. During this period, he convinced clients to sign paperwork that allowed him to withdraw advisor fees far exceeding what had been agreed upon. In other cases, he obtained authority over client accounts by having them sign documents that misrepresented his relationship with them and falsely claimed he received no compensation for investment advice. Some documents also incorrectly stated that clients wanted high-risk investments.
Dellas admitted to concealing account statements from his clients and impersonating them when communicating with brokerage firms in order to hide his activities. Through unauthorized withdrawals and excessive fees, he stole approximately $686,000 from his victims.
First Assistant United States Attorney John A. Sarcone III said: “Dean Dellas’s greed knew no bounds. He abused the trust of his clients and used their hard-earned retirement dollars as his own personal piggy bank. Thanks to our dedicated law enforcement partners, he is being held accountable so we may get justice for the victims of his crimes.”
Craig L. Tremaroli added: “Mr. Dellas abused his position as a financial advisor to callously steal from clients who trusted him with their investments. The FBI takes our responsibility to investigate those who commit fraud for personal gain very seriously, which is why Mr. Dellas is now heading to federal prison. We will continue working with our law enforcement partners to hold accountable those who use illegal means and criminal behavior to take advantage of others.”
Sentencing is set for June 22, 2026 before United States Chief District Judge Brenda K. Sannes. Dellas faces a mandatory minimum sentence of two years in prison and could receive up to 22 years along with a maximum fine of $250,000 and up to three years supervised release after incarceration. As part of the plea agreement, Dellas has agreed to pay restitution.
The FBI investigated the case while Assistant U.S. Attorneys Matthew J. McCrobie and Michael F. Perry are handling prosecution.
