{"id":25308,"date":"2016-07-15T12:58:02","date_gmt":"2016-07-15T19:58:02","guid":{"rendered":"https:\/\/cjnotebook.com\/?p=25308"},"modified":"2016-07-15T12:58:02","modified_gmt":"2016-07-15T19:58:02","slug":"independent-film-producer-allegedly-stole-film-generated-money-partner","status":"publish","type":"post","link":"https:\/\/cjnotebook.com\/?p=25308","title":{"rendered":"Independent Film Producer Allegedly Stole Film-Generated Money from Partner"},"content":{"rendered":"

LOS ANGELES<\/strong><\/span><\/p>\n

\n

\"JusticeAn independent film producer has been charged with interstate transportation of stolen property related to the theft of nearly $1.5 million that should have gone to his partner in a film production deal, according to officials.<\/span><\/p>\n

Julio Caro<\/strong>, 56, of Calabasas, was charged on Tuesday with moving money to New Jersey that had been stolen from an investment company called Yucaipa Corporate Initiatives Fund I, LP.<\/span><\/p>\n

Caro agreed to plead guilty to stealing $1.4 million from Yucaipa for more than five years, officials said.<\/span><\/p>\n

\u201cThis defendant exploited his position of trust by stealing money from a business he had been partners with for years,\u201d said U.S. Attorney Eileen M. Decker. \u201cMr. Caro then engaged in another crime by moving the pilfered money across the country.\u201d<\/span><\/p>\n

Caro \u00a0turned himself into authorities and is scheduled to be in court on July 27.<\/span><\/p>\n

Caro, through his company, Broken Rose Productions, Inc. entered into a limited liability agreement with Yucaipa in early 2005. The resulting LLC, which was called R-Caro Productions, LLC produced two films, including \u201cHomie Spumoni,\u201d which was distributed by Warner Brothers Entertainment. <\/span><\/p>\n

When Warner Brothers sent distribution proceeds to R-Caro, the money should have gone to Yucaipa, which had provided much of the financing for the film. Instead, \u201cCaro stole these funds and used these funds to pay for his personal expenses, including, but not limited to, his mortgage and car lease payments,\u201d according to the plea agreement.<\/span><\/p>\n

\u201cMr. Caro violated both the law and his partner\u2019s trust when he embezzled royalty payments and transferred the stolen funds to the East Coast,\u201d said Deirdre Fike, the Assistant Director in Charge of the FBI\u2019s Los Angeles Field Office.<\/strong> \u201cThis case should serve as a warning to those who evade detection by crossing state lines.\u201d<\/span><\/p>\n

The defendant is facing up to 10 years in federal prison, according to officials.<\/span><\/p>\n

 <\/p>\n","protected":false},"excerpt":{"rendered":"

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