The noose tightens on Fred Decaro Jr

FDIC blames Decaro, not the financial crisis, for the failure of his bank. Bank US was based in Port Chester but I understand that most of the money sunk into it came from Greenwich. Someone’s bound to be pissed.

I wonder whether either Decaro, father or son, lives on Round Hill Road?


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10 responses to “The noose tightens on Fred Decaro Jr

  1. XyzZy

    Hey some Indians calling people in Greenwich claiming they have monitored the Internet and see that the person they are callings computer is infected. Get them to go to their computers and look up errors.

    Total scam. Watch out.

  2. Towny

    From Linknd:
    Fred DeCaro III
    Business Systems Consultant specializing in technology infusion to increase efficiency and optimize productivity.

    Greater New York City Area
    Information Technology and Services
    Fred DeCaro III’s Overview
    Current •Registrar of Voters at Town of Greenwich
    •Owner/Managing Member at DeCaro Associates LLC
    Past •Director at USA Bank
    •Elected Representative at Town of Greenwich Representative Town Meeting
    •IT Manager at Patriot National Bank

  3. MAC

    didnt the de caro’s run Patriot and USA bank?

  4. send in the clowns

    Hey Chris – Greenwich Patch is linking to you now under their “around the web” section!


    Fred DeCaro Jr did help found Patriot and then the board kicked him out when they realized he he was over lending on deals that didn’t make financial sense. He took a year off and then fooled about 3,000 mom and pop investors into buying stock in USA Bank in 2006. Buhl’s story said he raised about $20 millionish in that offering. If this man is not charged for his crimes by the feds then I have lost faith in our justice system. Now that the FDIC backs up a lot of Buhl’s reporting on USA Bank you’d think Greenwich Time would also figure out there is a story to print.

  6. Anon e mouse

    I happened to be at il Polpo’s (rarely go there) the same day Freddie Jr was celebrating the opening of USA Bank. For once, Freddie, who mirrors his appearance after “It’s a Wonderful Life’s” Uncle Billy Bailey – confusedly thinking he’s a good banker – wasn’t wearing his usual sneakers with his three-piece suit. However, he was sporting the s**t-eating grin of a guy who had just grabbed the money and was running for the door. He gave me the goofiest hello and told me the news, and I remarked to my lunch partner that that was a bank that immediately wasn’t long for the world…

    To his investors: my sincere apologies, but WHAT WERE YOU THINKING???

    To his borrowers, especially to the ones who are complaining: shuddup already!! You’re part of the fraud too. You knew that NO other bank in the world, even Patriot, would have touched your deals with someone else’s 10-foot pole. Like that guy whose name escapes me, who with his dad had not just gotten a huge loan on the Byfield lane house, but two more houses! If you weren’t intentionally scamming, you shouldn’t be in the building business anyway.

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