Alleged Fraudster Loffredo Borrowed from Nearly All of an Employee’s Life Savings Claiming It Was for a Sick Child
For decades, a man named Billy worked at Campanella’s restaurant in Cranston. He did everything from maintaining the restaurant’s exterior to cleaning the floors, and he served as a prep cook in the kitchen.
Now, according to Billy and supported by bank documents provided to GoLocal, Campanella’s failed owner, Andrew Loffredo, borrowed $475,000 from Billy — nearly all of his retirement funds.
Campanella’s and Caffe Itri are two restaurants that Loffredo bought. Both are now closed and are under the control of a court-appointed receiver, and there is a growing number of accusations against Loffredo. According to court documents and multiple sources, Loffredo owes one investor, Stephen Soscia, as much as $30 million…