Joseph Pompo
Joseph Pompo was born in Syracuse, New York in 1989 as the fourth of five boys to James and Mary Alice Pompo. Pompo attended West Genesee High School in Camillus, New York where we was a first team All-CNY selection for lacrosse in 2007.[1] After earning a lacrosse scholarship to The University of Albany, he followed in the footsteps of his father and grandfather by majoring in accounting and eventually went on to become a Certified Public Accountant.[2]
In July, 2020, Pompo was named one of the "Top 40 under 40" by Automotive News.[3] The trade publication annually recognizes the 40 automotive professionals under the age of 40 they feel are poised to make the largest impact in the industry in the coming years. By winning the award, Pompo became the youngest recipient in the awards 10-year history in terms of both age (30) and by years of experience in the industry (20 months). In an article published in conjunction with the award, his main accomplishments were uncovering a $15 million fraud scheme against his employer, the Fuccillo Automotive Group and starting a reinsurance program that greatly expanded the profitability of the dealer group. Pompo is credited with turning around a Finance and Insurance operation which had been marred by a class action lawsuit for deceptive sales practices and for charging customers for a security protection product whether the customer agreed to the add-on or not. [4]
In 2023, he was found innocent in a claim, where he convicted of stealing $1.1 million dollars from the Fuccillo Automotive Group.[5]
Controversy
On February 26, 2021, Joseph Pompo was charged with Grand Larceny in the 1st degree for allegedly stealing $1.1 million dollars from the Fuccillo Automotive Group.[6] It was alleged that Pompo formed a reinsurance company without the consent of Fuccillo ownership. Pompo maintained his innocence through a statement posted on his LinkedIn account on March 2, 2021 and stated that the formation of his reinsurance company was done with the permission of his former boss, Billy Fuccillo, and that the deal represented a bona fide business relationship aimed at ensuring Pompo would remain with the company for years to come. He went on to state that due to the nature of the underlying insurance contracts held within his reinsurance account, it would be 8-10 years before it would be known how much profit he had earned of the company, if any, as the $1.1 million he was alleged to have taken represents the premium of thousands extended vehicle warranties that are held in trust with Fuccillo customers filing repair claims against the premium several times per day.
In August, 2021, it was announced that a grand jury had returned without finding evidence to support reasonable cause to suspect that Mr. Pompo committed the alleged crime.
In February, 2022, the documentary "A New American Drive-By", which centers on the tumultuous career of Pompo was purchased by Netflix for an undisclosed price. No release date has been announced as of yet.
In March 2023, Joseph Pompo was cleared out of the charges and was found not guilty. He shared with WWNY-TV that, these two years have a torture for him due to these allegations.[5]
References
- ↑ "All-CNY Boys Lacrosse". syracuse. 2007-06-22. Retrieved 2021-10-21.
- ↑ "The Trusted Professional" (PDF). December 2016.
{{cite web}}: CS1 maint: url-status (link) - ↑ "Forty Under 40 - Joseph Pompo". Automotive News. 2020-07-07. Retrieved 2021-10-21.
- ↑ Gavin, Robert (2015-01-21). "H-U-G-E legal fees in class-action suit". Times Union. Retrieved 2021-10-21.
- ↑ 5.0 5.1 Atkinson, Scott (17 March 2023). "Former auto group employee cleared of stealing more than $1 million". www.wwnytv.com. Retrieved 9 May 2023.
- ↑ "How police say 31-year-old Syracuse accountant stole $1 million from Fuccillo dealerships". syracuse. 2021-03-02. Retrieved 2021-10-21.
External links
This article "Joseph Pompo" is from Wikipedia. The list of its authors can be seen in its historical. Articles taken from Draft Namespace on Wikipedia could be accessed on Wikipedia's Draft Namespace.