Philly Loanshark Bust

Post a reply

Confirmation code
Enter the code exactly as it appears. All letters are case insensitive.

BBCode is OFF
Smilies are OFF

Topic review
   

Expand view Topic review: Philly Loanshark Bust

Re: Philly Loanshark Bust

by 500YearReign » Sat Mar 21, 2020 5:27 am

As far as I'm concerned, Frank's a nice fella, hope everything works out for him.

Re: Philly Loanshark Bust

by chin_gigante » Mon Mar 02, 2020 4:17 pm

DS on insta saying court documents reveal Scarpato threatened to send mob guys to collect loans

Re: Philly Loanshark Bust

by PHL_Mob » Thu Feb 27, 2020 4:42 pm

All this prick has to do is put up his house as collateral. Even if it’s 50% paid off I bet that’s enough Equity. He’s got
Properties downtown so he’s probably out by now.

Re: Philly Loanshark Bust

by CTamg65 » Thu Feb 27, 2020 12:27 pm

Sounds about right NJShore....I know it said he didn't make bond but that was right there on the spot...I'd be Very Suprised if he wasn't out yet especially with the business ,you can make Great money plumbing especially If you own a business and know the right people with side work cash jobs and if he was loansharking he most likely was taking action even if it was just NFL which just finished ...Most of not all bondsman take payment plans with only 2 to 3 percent of the 10pct needed to get out up front they also take collateral (real eatate,cars etc.) I'd be shocked if he wasn't out yet if he would get together 25 grand cash or collateral he could be out with a payment plan assuming his bond was set at 750,000 and not lowered at his arraignment

Re: Philly Loanshark Bust

by NJShore4Life » Thu Feb 27, 2020 7:06 am

I bet he was kicking up and then using that he was “with” the Downtown Guys to help him collect on his loans from the suburban Delco crowd he lended to, just a hunch.

Re: Philly Loanshark Bust

by furiofromnaples » Thu Feb 27, 2020 2:32 am

CTamg65 wrote: Wed Feb 26, 2020 2:31 pm His business is involved with the union and I Think he was indicted or looked into in the past not sure exactly but I know I read something about it
MEMORANDUM
Presently before the Court is Plaintiffs’ Motion for Entry of Judgment Against
Defendants Frank Scarpato and F.P.S. Plumbing, Inc. (Doc. No. 34.) For the following reasons,
the Motion will be granted.
I. BACKGROUND
Plaintiffs are the Plumbers Union Local No. 690 and trustees of the various Plumbers
Local Union 690 Industry Funds. (Am. Compl. ¶ 3.) Defendants Frank Scarpato, F.P.S.
Plumbing, Inc., and Campanella Construction Company are engaged in the plumbing industry.
(Id. ¶ 5.) On January 1, 2006, Scarpato, as owner and president of F.P.S. Plumbing, executed a
Consent and Approval Statement agreeing to the terms and conditions of the Plumbers Local
690’s Collective Bargaining Agreement (“CBA”). (Id. ¶¶ 7, 18; Doc. No. 1, Ex. A.) Between
2006 and 2008, Defendants performed work on projects at the Western Union Building in
Philadelphia, with Campanella retaining F.P.S. Plumbing as a subcontractor. (See id. ¶¶ 8-10.)
At some point during the project, Campanella discovered that F.P.S. Plumbing was not
forwarding benefit payments to the Plumbers Local 690 as required by the CBA.

Re: Philly Loanshark Bust

by PHL_Mob » Wed Feb 26, 2020 8:38 pm

I bet they kick something up to Borgesi/Johnny Chang. Or he was seeded by those guys but guess is because he’s having trouble paying his bail he’s not that liquid so he was loaned money from someone downtown at 1.5 points and flipping it at 2.5-3 points. Hes def a south philly guy but seems to be making loans in Delco so they’re probably 5-figure loans to businesses or personal loans.

Re: Philly Loanshark Bust

by Stroccos » Wed Feb 26, 2020 7:29 pm

Who they with.? If anyone ?

Re: Philly Loanshark Bust

by NJShore4Life » Wed Feb 26, 2020 7:14 pm

Re: Philly Loanshark Bust

by PHL_Mob » Wed Feb 26, 2020 3:34 pm

FS

Re: Philly Loanshark Bust

by PHL_Mob » Wed Feb 26, 2020 3:34 pm

Frank Scarpato

Re: Philly Loanshark Bust

by CTamg65 » Wed Feb 26, 2020 2:31 pm

His business is involved with the union and I Think he was indicted or looked into in the past not sure exactly but I know I read something about it

Philly Loanshark Bust

by PHL_Mob » Tue Feb 25, 2020 7:26 pm

Frank Scarpato busted by PA State police in Delco, but he’s a South Philly guy, for making terroristic threats and corrupt organization. He’s got a plumbing business also.

Top