PHILADELPHIA, PA — Joseph Cole Barleta, also known as Joe Cole, has entered a guilty plea to one count of racketeering conspiracy. This admission comes as a part of the wider investigation into the fraudulent operations of Complete Business Solutions Group Inc., operating under the name Par Funding, which allegedly defrauded investors of over $100 million.
Barleta, 41, of Philadelphia, acknowledged his involvement before United States District Court Judge Mark A. Kearney on Wednesday, October 16, 2024, admitting to his role in the securities and wire fraud aspects of the criminal enterprise. The plea agreement indicates that the government is advocating for a prison sentence of up to eight years; however, the final decision rests with the court, which holds the authority to impose a different sentence.
The case against Barleta and his codefendants, Joseph LaForte and James LaForte, was strengthened by a second superseding indictment filed earlier this year. The indictment outlined the operations of an association-in-fact RICO enterprise, which included various predicate crimes against Par Funding’s investors, many of whom reside in the Philadelphia area…