CAMDEN, N.J. (AP) — The cousin of a reputed south Jersey-Philadelphia mobster has admitted in federal court in New Jersey his role in a scheme that targeted a financial services company in Texas.
John Parisi pleaded guilty on Wednesday to conspiracy to commit wire fraud.
The 52-year-old admitted he conspired to defraud FirstPlus Financial Group that allegedly was targeted for takeover and looting by a group led by his cousin Nicodemo "Little Nicky" Scarfo.
Authorities say the group used intimidation in 2007 to take over the Irving, Texas-based mortgage company, had the company buy two shell businesses and took out the proceeds.
Parisi faces up to five years in prison when he's sentenced in January.
Scarfo's wife pleaded guilty on Tuesday to conspiring to make a false mortgage loan application.
Scarfo is awaiting trial.