Adelaide pizzeria owner Pantaleo Capoccia sentenced for money laundering
Pantaleo Capoccia received a suspended sentenced for money laundering
A PIZZA shop owner caught with unexplained wealth, including Louis Vuitton products, Rolex wristwatches, French champagne and large amounts of cash, has been sentenced.
Pantaleo Capoccia, 25, of Paradise, had pleaded guilty to dealing with money reasonably suspected of being the proceeds of crime after being arrested as he boarded a flight to Sydney in February last year.
In sentencing, District Court judge Jack Costello said police had been investigating Capoccia as part of a money laundering syndicate.
“Police located about $11,000 in cash inside a wallet in your carry-on bag, phones and a Rolex wristwatch, among other things,” he said.
“When questioned by police prior to the search you denied that there was anything of significance in the bag.
He said police searched his home and found a further $94,950.
“Telephone intercepts obtained by police reveal that you spent large sums of money on luxury items such as Louis Vuitton paraphernalia, French champagne and the like.
“The cash located at the airport and your home was grossly disproportionate to your income as demonstrated by an analysis of your bank records and tax returns.”
He said Capoccia had bought and operated the eastern-suburbs pizzeria, after being awarded a $470,000 payout for a car accident in 2010.
Judge Costello said the need for strong and effective laws for the confiscation of proceeds of crime was clear.
“The purpose of such laws is to discourage and deter crime by reducing profits, to prevent crime by diminishing the capacity of offenders to finance future criminal activities, and to remedy the unjust enrichment of criminals who profit at society’s expense.”
He jailed Capoccia for one year and three months but suspended that sentence upon him entering a $500 good behaviour bond and required he be under the supervision of a probation officer for 18 months.
Judge Costello then warned Capoccia, who supports his wife and daughter, not to break that bond.
“I need to make it clear to you that you have received an indulgence from the court.”
“There has been a measure of leniency extended to you and the Commonwealth Crown has properly conceded that it’s appropriate in your case.
“That being the case, you have had your chance, if you were to breach your recognisance over the next few years, it is entirely likely that you will be brought back here and be required to serve a sentence of imprisonment.”
Source: The Advertiser - 23 February 2015
