Former accountant Stephen P. Corso, who was a key government witness against several major mafia members and hit men a few years ago, is apparently back in legal hot water again. Corso helped himself get off with just a slap on the wrist after embezzling more than $5 million from clients by his willingness to inform on his mobster associates, but as part of his plea deal he agreed to never work as a licensed accountant again. In fact, his license was revoked after his his conviction.
However, according to public records and knowledgeable sources that recently spoke with the Wall Street Journal, Stephen Corso is working preparing financial statements for a number of penny-stock firms under a slightly different name, and is far behind in both his criminal restitution and alimony payments.
More on mob informant Stephen Corso
According to WSJ sources, the SEC is investigating Corso’s current activities as part of a broader probe into penny-stock fraud that is expected to result in enforcement action.
For the first quarter of 2022, the Voss Value Fund returned -5.5% net of fees and expenses compared to a -7.5% total return for the Russell 2000 and a -4.6% total return for the S&P 500. According to a copy of the firm’s first-quarter letter to investors, a copy of which ValueWalk has been able Read More
Besides working under a variation of his real name, Stephen Corso is also claiming academic and professional qualifications, including to being a licensed certified public accountant and attorney, as well as a degree from a university he did not earn, according to the sources. In an almost humorous twist, Corso is also claiming to be younger than 60 years old, which is his actual age based on federal Bureau of Prisons data.
Corso’s earlier brush with the law resulted in him spending about a year in federal prison after most of his seven and a half year sentence was suspended because of his extensive cooperation with federal prosecutors in other mafia-related cases.
The WSJ did not, however, publish Corso’s new name or his current location for security reasons. At his sentencing just over five years ago, his attorney noted that Corso “will live the rest of his life…with a target on his back.”
When asked to confirm details of the story, Corso replied he has “no comment.…I’m not going to have any comment on any of this.”
Prosecutors served a writ of garnishment on Corso last year and convinced a judge to schedule a hearing to examine his financial status and his ability to pay the full restitution. However, the hearing has been postponed, with no new date set, according to court records.