LUDLOW, Vt. – A major business owner in Ludlow was indicted on federal bribery charges on Thurdsay, Dec. 14, according to an announcement by United States Attorney for the Southern District of New York Damian Williams.
Troy Caruso, who owns multiple Ludlow businesses, is charged with one count of conspiracy to commit honest services wire fraud, and one count of honest services wire fraud. Each charge carries a maximum sentence of 20 years in prison.
The charges stem from activities that allegedly occurred from February 2021 – September 2023. During this time, Caruso and another executive at the New York City-based contracting company that he owns, John Nolan, are alleged to have been involved in what is described in the indictment as a “kickback scheme,” making kickback payments to an employee at a “global and publicly traded commercial real estate services company.” This employee was responsible for managing the process by which contracting companies like Caruso’s bid on and are awarded construction contracts. Caruso is said to have promised 1% of any contracts his contracting company was awarded to the employee in exchange for the employee’s aid in the bidding process. For example, the indictment claims that Caruso’s company was, as a result, included on the real estate services company’s “bid list,” allowing him to submit bids for contracts which he would not have otherwise been able to submit. The indictment also says that the employee provided Caruso with non-public information about the bidding process.
Caruso was awarded a contract for $3.55 million by the real estate company, and is alleged to have paid $35,500 to the employee of the real estate company as result, as well as a further $33,000 in kickbacks for his continued support. Caruso’s contracting company submitted bids for two other projects for which he was not awarded contracts.
Caruso is the owner of Fox Run Golf Course, Off the Rails, Calcutta’s, and Alta Tuscan Grille, all in Ludlow. Caruso also owns Sam’s Steakhouse and Mr. Darcy’s, which were both heavily damaged in the July flood, and have since been shuttered. Caruso is seeking FEMA buyouts for both properties, though the Ludlow Selectbord had denied permission to sell the Mr. Darcy’s property to FEMA, citing the building’s historical significance.
If convicted, Caruso could face forfeiture of any assets “derived from the proceeds traceable to the commission of the offenses.” If such assets are outside the court’s jurisdiction – for example, if the assets have been sold to a third party without connection to the criminal activity – the government intends to “seek forfeiture of any other property of the defendants up to the value of the forfeitable property.”