A Saratoga Springs man accused of stealing nearly $150,000 from a local medical skin cream business he was involved with was sentenced Wednesday to 90 days in jail and has paid restitution.
Frank A. Pascuitto, 60, was sentenced by Saratoga County Court Judge James A. Murphy III after he pleaded guilty in May to one count of second-degree grand larceny.
[Saratoga scar cream partner, wife accused of theft]
As part of his sentence, Pascuitto on Wednesday paid $144,174 in restitution and is to pay an additional $3,500 within 90 days of his release from jail. In addition to jail time, he is to be under post-sentence supervision for five years.
Pasciutto was involved in Rejuveness, a limited-liability company that markets scar removal and scar treatment products and is based in Saratoga Springs. He was accused of illegally diverting company money he had access to into his personal accounts over several years, said District Attorney Karen A. Heggen.
Heggen said Pasciutto is also expected to plead guilty this week in Saratoga Springs City Court to a state tax evasion charge and to pay taxes and penalties on the illegal income.