Gregory J. Podlucky is the former CEO of Latrobe beverage company Le’Nature’s Inc. He and 1,498 other people had their prison sentences commuted by President Biden on Thursday. It was the largest single-day act of clemency in modern history.
President Joe Biden commuted the sentence of Gregory J. Podlucky, former chairman and CEO of a now defunct Latrobe beverage and bottling company who was sentenced to 20 years in federal prison in 2011 for his role in a multimillion dollar fraud scheme. https://t.co/VyJXZi7QTS
— TribWestmoreland (@TribWestmoreCo) December 14, 2024
Podlucky was involved in what was considered the largest financial fraud ever in Western Pennsylvania at the time. He was sentenced to 20 years in prison in October of 2011 and pleaded guilty to mail fraud, money laundering, and tax evasion. Prosecutors said investors and lenders lost $628 million because of the fraud.
Le-Nature’s Inc. went bankrupt in 2006. It presented fake books and false audits to repeatedly obtain nine-figure loans. Millions of dollars from these loans reportedly went into Podlucky’s pockets. He purchased a 24,000-square-foot stone castle. He also obtained jewels, gold, watches, and model trains.
In April of 2012, Podlucky’s wife Karla S. Podlucky was sentenced to four years and three months in prison. She was found guilty of money laundering.
The couple’s son, G. Jesse Podlucky, was sentenced to nine years in prison for money laundering and conspiracy. Both Karla and her son were found guilty of crimes associated with the sale of $2.9 million in diamonds and sapphires, as well as transfers of ill-gotten assets among shell companies.
No reason was given by Biden for the commutation of the sentences made on Thursday.
