Sunday, September 09, 2007

Petey Cap Hits a 7 and Craps Out as He Heads Up the River

It's snake eyes for Hudson County gambling racketeer Peter "Petey Cap" Caporino, who is on his way up the river after being sentenced to an unlucky seven years in prison today, officials said.

Caporino ran illegal numbers and sports betting rackets for more than 40 years and was an FBI informant for two decades.

Helping the feds got him off the hook but he just couldn't give up the business he operated out of the Character Club, on Monroe Street in Hoboken. A portion of his take was passed up the chain to Genovese crime family bosses, law enforcement officials said.

"We are gratified that this book has reached it's final chapter," said Hudson County Prosecutor Edward DeFazio.

In 2002, Caporino pleaded guilty to money laundering involving illegal gambling proceeds and was sentenced to five years in prison. That sentence was suspended when he agreed to wear a wire for the FBI and help prosecute 15 reputed Genovese associates.

Caporino could have walked away but he didn't -- and things spiraled from there.
In June, he was arrested at his Hasbrouck Heights home and charged with leading an organized crime network, promoting gambling and possession of gambling records.

On Aug. 16 last year, he was arrested in Hoboken by Jersey City police and charged with promoting gambling and possession of gambling records, officials said. Following this arrest, the feds washed their hands of Caporino and DeFazio reinstated the five year suspended sentence.

Caporino was given seven years today by state Superior Judge Peter Vazquez, sitting in Jersey City, for leading an organized crime network, and five years for promoting gambling. Under the terms of the plea deal, the terms will run concurrently.

The sweep that netted Caporino in June also resulted in the arrest of his wife, Ann Caporino, 68, on the charge of possession of gambling records. The charge against her was dropped as part of his plea deal.

Thanks to Michaelangelo Conte

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