Things just got worse for Chaka Fattah Jr. Matthew Amato, who used to live with the recently indicted son of Congressman Chaka Fattah, pleaded guilty yesterday to making false statements to three banks to acquire loans.
A U.S. Attorney says Amato agreed to cooperate in any related investigations and testify against Fattah Jr.
Fattah Jr. was indicted last week, charged with fraudulently acquiring business loans and pilfering money from the Philadelphia School District. Prosecutors allege he spent the money on gambling debts and personal expenses. His father, a Congressman since 1995, said last week he expects his son will be exonerated.
Fattah Jr. and Amato were roommates at Drexel and shared an apartment in 2005 and 2006 on Henry Avenue. I know people like it out there, but, geeze: If Amato’s going to fraudulently acquire loans, you think he’d at least have the cash to live downtown.
When applying for loans, Amato claimed to be the CEO of Chaka Fattah Jr. Associates. The government says no such company existed, and that Amato wrote checks to Fattah Jr. or to his consulting firm after each loan was acquired.
Amato admitted to lying to Wachovia Bank, PNC Bank and Sun National Bank in the summer of 2005. He faces a maximum of 30 years.