Park Ridge man sentenced to 14 years for extortion plan

U.S. District Judge Philip G. Reinhard sentenced a 59-year-old Park Ridge man to 14 years in federal prison Friday for conspiring to commit extortion against a McHenry County man.

Robert Panozzo, whose prison sentence will be followed by three years of supervised release, pleaded guilty June 19.

According to the plea, Panozzo conspired with Joseph D. Abbott, 40, formerly of Park City, and others to extort money from an individual from Jan. 1, 2005, to Dec. 20, 2009. They did so, authorities said in a news release, using "actual and threatened force, violence and fear."

Panozzo loaned money to the person in 2005, and the individual thought the debt had been paid back in 2006 through a series of payments, the release said. However, Panozzo told the man an additional $100,000 in interest was owed and recruited others to "cause harm" to the person and his property.

On Oct. 5, 2006, Panozzo, Abbott and others confronted the man where he worked to demand payment. When the man said he could not pay, he was struck, receiving injuries to his head and arms that required medical treatment, according to the release.

Panozzo was incarcerated for almost two years from Nov. 3, 2006, through Sept. 25, 2008, on unrelated state charges. After his release, Panozzo continued to demand payment from the individual and later admitted to authorities he had Abbott set fire to a minivan in the man's driveway in 2009 and paid Abbott to "blow up" the victim's house, according to the release.

Abbott was sentenced on July 26 to 78 months in federal prison, followed by three years of supervised release.