A Schuylkill County judge has denied a Tamaqua businessman's bid to have charges of bilking an elderly couple dropped.

President Judge William E. Baldwin on Tuesday ruled that charges against Alfonso "Alfie" Picone, 45, should stand."The evidence established that the defendant did not have permission to use the (victims') money for his personal expenses. He took it knowing that he was not permitted to do so, and he failed to return any portion of the proceeds," Baldwin wrote."Bank records show he took over $300,000 in a matter of a year. The (victims) were unaware of these transfers and believed (Picone) was only helping to pay their bills."Picone's lawyer, Nicholas Quinn, argued that the evidence against his client was based entirely on hearsay.However, Baldwin cited a 1980 case that allows hearsay to establish an entire case. Further, he wrote that "hearsay evidence is not the only evidence presented here."Baldwin wrote that "permission was not given to the defendant to keep the (victims') money and it was not a gift or loan."Additional evidence from other witnesses established the other elements, including testimony from a forensic accountant as to the specifics of the transfer of funds between Picone and the victims.Baldwin also addressed the suggestion that the victims were incompetent to testify."While this will certainly be an important issue in future proceedings where hearsay is not acceptable at all, at this stage, it need not be determined," Baldwin wrote. "The defendant is free to object to hearsay statements at trial, and to challenge the competency of the victims if they are to be called as witnesses."Prosecutor Michelle Lynn Laucella of the state Office of the Attorney General told Baldwin at a Dec. 30, 2015, hearing she had no immediate plans to introduce the subject of competency or call the doctor who performed the evaluation as an expert witness at the trial.The chargesRush Township police officer Thomas R. Fort on Oct. 15, 2015, charged Picone with dealing in proceeds of unlawful activities with intent to promote, knowledge that property is proceeds of an illegal act, theft by unlawful taking and receiving stolen property.Police believe Picone bilked the couple, both in their 90s, out of $315,000.After an Oct. 8, 2015, preliminary hearing, District Judge Stephen J. Bayer of Tamaqua dismissed three counts of theft by deception.Picone remains free on $100,000 percentage bail, posting $10,000 in cash or property.According to court documents and testimony at a May 28 hearing, police were contacted in December 2014 by Brian Campbell of the Schuylkill County Office of Senior Services. Campbell was investigating the possible exploitation of an elderly Lake Hauto couple.The husband told Campbell he had loaned Picone $40,000 and added his name to his and his wife's joint checking account in July 2014.He also said he began moving money from the couple's portfolio account, transferring it to an account managed by a friend of Picone's. He couldn't remember that friend's name.Campbell discovered the victims had loaned Picone $20,000, which was not repaid.Picone's name was added to the couple's Wells Fargo checking account on July 31, 2014, to "make it easier for Picone to help them manage their money," according to a conversation between Campbell and the husband.The couple told Campbell they did not give Picone approval to pay his own personal bills out of their account.The audit found numerous checks made out to entities that have no connection to the couple, as well as several large withdrawals and deposits.That includes checks to contractors, checks made out to Picone and a check for $5,000 made payable to La Dolce Casa, the Tamaqua restaurant he co-owns and manages.In total, $315,492.47 was paid to Picone from the couple's account between Jan. 1, and Dec. 31, 2014, according to an audit conducted by Linda Mill, a certified fraud examiner with Temple University.