A former West Philadelphia man who moved to the Main Line while he was stealing $1.4 million from a private financial firm has been sentenced to 57 months in prison and ordered to repay the amount he took.
Joseph D. Val, who had moved to Matson Ford Road, Wayne, pleaded guilty earlier this year and was sentenced this week by U.S. District Judge Mitchell S. Goldberg. Val turned his house over to his former employer, the Susquehanna International Group, a financial firm in Bala Cynwyd.
He was caught by IRS investigators and admitted to wire fraud and filing a false income-tax return. Val stole the money between 2005 and 2010 by creating a fake company and billing SIG with fake invoices, according to the IRS. - Nathan Gorenstein