A fraudster whose chicanery was inspired by a “Seinfeld” joke was sentenced in Brooklyn federal court to 45 months in prison for wire fraud and ordered to pay $1.3 million in forfeiture.
Thomas John Sfraga, also known by the alias TJ Stone, presented himself to investors as the owner and principal of multiple businesses, including Build Strong Homes LLC and Vandelay Contracting Corp. – the latter’s name was inspired by “Vandelay Industries,” which the character George Constanza falsely claimed to have interviewed with for a job in the television show “Seinfeld.” Sfraga claimed to have vast experience in real estate development, media relations, podcasting, and cryptocurrencies.
Between 2016 and 2022, Sfraga defrauded at least 17 victims convincing them to loan him money for, or to invest in, multiple sham investments including purchasing, renovating, and “flipping” homes. On one occasion, Sfraga convinced a victim to lend him $100,000 in cash as start-up costs for a non-existent construction project.
Sfraga used the money entrusted to him by the victims for his own benefit, to pay expenses, and to pay earlier victims and business associates. When law enforcement began investigating Sfraga after victims filed lawsuits, he fled to Arizona to live under a false identity. He was apprehended in September 2023 but fled after posting a $3,600 cash bond.
Sfraga was eventually apprehended in Las Vegas in December 2023 after being arrested for running out on his bill at the Wynn Casino and pleaded guilty last May. The court has yet to determine the amount he will need have to pay back to his victims.
“Sfraga callously stole from friends, next-door neighbors, and the parents of children who played on teams with his own children, as well as from individual cryptocurrency investors,” stated US Attorney John Durham. “There was nothing funny about his use of a Seinfeldian company, Vandelay Industries, to carry out this fraud, which caused severe financial and emotional harm to the hard-working men and women who trusted him.”
Photo: YouTube screenshot of Thomas John Sfraga
Took messing with a casino to get this guy…