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Scarsdale Man Is Charged With Bilking $4.6M From Investors

Salvatore Carpanzano of Scarsdale is facing federal fraud charges for allegedly conning investors out of $4.6 million.
Salvatore Carpanzano of Scarsdale is facing federal fraud charges for allegedly conning investors out of $4.6 million. Photo Credit: File

SCARSDALE, N.Y. – A Scarsdale businessman arrested Monday, Nov. 24, faces federal fraud charges for allegedly conning investors out of $4.6 million through a fake escrow company, Lohud .com reports.

Salvatore Carpanzano, 55, purportedly deceived investors by saying he represented two companies to gain money from a group of investors for what they thought was an opportunity to invest in an assisted living community in Arizona and a movie called “Mob Street,” according to the report.

The report states that Carpanzano, who was arrested on unrelated domestic violence charges, is free on $100,000 bail on the domestic violence charge and free on the federal charges pending a court date of Wednesday, Dec. 24.

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