LAS VEGAS -- The man who embezzled millions of dollars from the company that developed several properties in Las Vegas, including Turnberry Place, Town Square shopping center and the Residences at MGM, has been sentenced to more than four years in prison.
U.S. District Judge Gloria Navarro sentenced Rocco Lazazzaro, 55 of Las Vegas, to more than 4 years in prison plus another three years of supervised release. He was also ordered to pay about $3.7 million in restitution.
Lazazzaro pled guilty in May to conspiracy to commit wire fraud. In his plea agreement, he admitted the he worked with the developer's controller, Hope Ippoliti, to steal more than $3.7 million from Turnberry Associates.
Ippoliti pled guilty in March to conspiracy to commit wire fraud. She and Lazazzaro used her position at Turnberry Associates to transfer funds to a bank in Florida where they were able to use them for personal use.
In total, the company lost $5.6 million in the scheme.