More charges filed against condo property manager | News

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DANVERS — New larceny charges involving a Lynn condominium complex have been filed against a Lynnfield property manager charged last year with embezzling more than $15,000 from a Danvers condo association.

The development scuttled plans for a hearing Thursday where Frank Carucchio was expected to offer restitution to the Edmunds Cove Condominium Trust to settle the case.

Instead, prosecutor Matt Schreiber told a judge, he’s now facing new charges in Lynn District Court involving similar conduct.

“That has changed the posture of this case,” Schreiber told the judge.

Caruccio, of Lynnfield, is the owner of Capital Property Group, a property management company.

The board of the 13-unit Edmunds Cove condos hired him to manage their property and collect monthly condo fees in 2017. In 2019, the board opted not to renew the contract. When they finally received an accounting of their finances from Bank of America, they discovered that more than $11,000 was unaccounted for, and that their account had also been used to make more than $4,300 in unauthorized payments to others — including the Lewis House condominiums, a 40-unit complex in Lynn.

Police in that city had been investigating that matter after residents discovered that their utilities were about to be shut off, the association’s bank account had a zero balance and they owed $60,000 in unpaid bills, according to a police report.

Caruccio, along with his girlfriend, Bianca Pagliuso, are now facing charges of larceny in Lynn District Court. An arraignment there is scheduled for May 4.

He is due back in Salem District Court on May 9.

Courts reporter Julie Manganis can be reached at 978-338-2521, by email at or on Twitter at @SNJulieManganis

Courts reporter Julie Manganis can be reached at 978-338-2521, by email at or on Twitter at @SNJulieManganis

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