West Roxbury Man Jailed for Violating Several Court Orders

A West Roxbury man who was previously convicted in a ponzi scheme case was sentenced to two years in jail for violating an asset freeze and other court orders entered in a civil case brought by the Securities and Exchange Commission.

Steven Palladino, 57, was sentenced by U.S. District Court Judge Douglas P. Woodlock to two years in prison on Monday, according to United States Attorney Carmen M. Ortiz.

Palldadino will not begin serving the sentence until he completes the 10 to 12-year sentence imposed by the Commonwealth of Massachusetts for his conviction in the state ponzi scheme case.

According to Ortiz, Palladino pleaded guilty to twenty-five counts of criminal contempt in U.S. District Court in Boston back in May.

From May of 2013 through November of 2013, prosecutors say Palladino “violated court orders which were imposed as a result of the SEC’s civil case when he incurred thousands of dollars in credit card charges and cash advances – including charges at high-end restaurants and department stores – and did not deposit the proceeds of cash advances into an escrow account established by the Court.”

United States Attorney Carmen M. Ortiz and Vincent B. Lisi, Special Agent in Charge of the Federal Bureau of Investigation, Boston Field Division, made the announcement Monday.