A 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 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.
