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Capano Pleads Guilty to Bank Fraud and Environmental Violation

state.delaware.gov

WILMINGTON, Del. (AP) - Developer Joseph L. Capano Sr. has pleaded guilty to bank fraud and an environmental violation in connection with the construction of housing in in New Castle.

Local media report that the 74-year-old Capano enter the plea Monday in federal court in Wilmington.

Prosecutors say Capano used more than $145,000 in loan proceeds earmarked for building the Riverbend for personal purchases. According to his plea agreement, Capano admitted to ordering some construction of the residential development to go through protected wetlands.

Capano could be sentenced to up to 30 years in prison.

Don Rush is the News Director at Delmarva Public Media. An award-winning journalist, Don reports major local issues of the day, from sea level rise, to urban development, to the changing demographics of Delmarva.