- Associated Press - Monday, March 28, 2016

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.


This story has been corrected to show that Capano is 74, not 73.

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