Tampa, FL – In a shocking revelation, Louis Thomas Caputo, a 78-year-old Sarasota man, has pleaded guilty to extortionate collection of debt, a federal crime that carries a maximum penalty of twenty years in federal prison.
According to United States Attorney Robert E. O’Neill, Caputo was indicted in November 2012, and his sentencing hearing is scheduled for August 21, 2013.
According to court documents, Caputo extended loans with interest rates that exceeded 500% per year. Over a number of months, beginning in September 2008, he employed extortionate means to collect these debts.
Caputo’s methods, as described in court documents, included threatening to harm the debtor, making assertions of his connections to the Gambino family, delivering anonymous threatening letters to the debtor, and telling the debtor that he had previously been convicted of a similar offense.
In fact, Caputo was previously convicted in federal court of, among other things, the extortionate extensions and collections of debt.
The case was investigated by the Federal Bureau of Investigation, and it is being prosecuted by Assistant United States Attorney Thomas N. Palermo.
Louis Thomas Caputo, the defendant, faces a maximum penalty of twenty years in federal prison. His sentencing hearing is scheduled for August 21, 2013.
Caputo’s crimes spanned several years, from September 2008 to the present. The exact dollar amount of the loans extended by Caputo is not specified in the court documents.
This case highlights the ongoing problem of extortion and debt collection in the state of Florida. The Federal Bureau of Investigation and the United States Attorney’s Office will continue to work together to prosecute individuals who engage in these types of crimes.
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Key Facts
- State: Florida
- Category: White Collar Crime|Organized Crime
- Source: DOJ Press Release â†â€â€
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