Man charged with wire fraud
Developers win when Operating Engineers and Employers work together
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Scarsdale businessman has been charged with wire fraud for allegedly pilfering $4,625,000 from investors who gave his company money to be held in escrow. The complaint against Salvatore Carpanzano, who also uses the name Salvino Casiraghi, unsealed in federal court in White Plains on Nov. 25, detailed how Carpanzano allegedly created a limited liability company that he positioned to appear to be an affiliate of a legitimate bank in the United Arab Emirates. While claiming that his company was affiliated with the bank in the UAE, Carpanzano then allegedly received $2.7 million via wire transfer that was to be held in escrow for the construction of an assisted living facility in Arizona. According to the complaint, Carpanzano also received $100,000 wired from China to be held in escrow to secure the lease of a $5 million financial instrument and $1,325,000 that was to be used to secure $200 million to finance production of a movie tentatively titled “Mob Street.” Prosecutors alleged that substantial portions of the money received was used to finance Carpanzano’s personal expenses, including bills at hotels, restaurants and retail stores. If convicted, Carpanzano faces up to 20 years in prison for each of the three counts of wire fraud. Carpanzano is free on bail while facing unrelated charges of criminal contempt and aggravated harassment in Westchester County Court. — Leif Skodnick
Contractors and Local 825 employees who understand their common interests deliver the best construction results by striving for greater efficiency, productivity and profitability.
An atmosphere of trust Some of the best suggestions for innovations, cost savings and cost-avoidance have come from the people who perform the work. In an atmosphere of trust, everyone is a partner in success.
Thriving on challenge Local 825 members thrive on challenging work and employment stability that allows them to provide for their families. Contractors take pride in challenging projects, knowing they can deliver on time, on budget and above expectations.
Investing in success Local 825’s state-of-the-art training centers are open to members and contractors in two states. They help keep our members highly skilled, fully licensed, credentialed and ready to work when you are.
Learn how we can help. Contact ELEC Director Mark Longo at 973-630-1010 or visit WWW.ELEC825.ORG
Building On Common Ground The Engineers Labor-Employer Cooperative (ELEC) is comprised of: International Union of Operating Engineers Local 825, Associated Construction Contractors of New Jersey, Construction Industry Council of Westchester & Hudson Valley and the Construction Contractors Labor Employers of New Jersey. Left photo, Revel Casino Hotel; center photo, MetLife Stadium, courtesy of Skanska USA; right photo, Montclair rail station & municipal parking lot, courtesy of Prismatic Development Corporation.
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WCBJ | HV Biz
December 8, 2014
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