Used Car Dealer Pleads Guilty to $45 Million Scheme to Sell Masks to NYC – NBC New York (47)

A New Jersey used car dealer pleaded guilty Tuesday to a $45 million scheme to sell personal protective equipment in the darkest days of the pandemic to New York City at a massive profit margin.

Ronald Romano of Manalapan pleaded guilty in federal court in Manhattan to conspiracy to violate the Defense Production Act. Prosecutors alleged that Romano tried to sell 3M-brand masks to New York City officials at a 400% markup on the list price, even though he was not an authorized dealer and did not actually have the masks.

The city did not pursue the purchase, after contacting 3M and verifying that Romano’s company was not a certified reseller.

Romano, 60, will be sentenced in September.

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