by Walter Fox
John Capoferri, a local developer and former owner of Caruso’s Market, has been sentenced to nine months in prison on a federal felony charge after pleading guilty to defrauding Valley Green Bank of $190,000 by making false statements on a loan application.
Capoferri also was sentenced to five years probation, which will include 250 hours of community service, and will be required to make restitution to the bank in the amount of $190,000. The prison term will run concurrently with the state sentence he is now serving.
Earlier this year, he was sentenced to 20 to 48 months for theft by deception, one to two years for forgery, and three years probation for theft of services after pleading guilty to state charges.
According to federal prosecutors, Capoferri secured the loan from Valley Green by providing the bank with a forged agreement of sale for his former Mermaid Lane home and claiming he would repay the debt with money released from an escrow account upon the sale of his home, but the escrow funds had already been pledged to another party.