An independent film procuer was sentenced on Monday, November 7, to 18 months in federal prison for interstate transportation of stolen property related to the theft of nearly $1.5 million that should have gone to his partnerin a film production deal.
Julio Caro, 57, of Calabasas, was sentenced for transporting money to New Jersey that had been stolen from an investment company called Yucaipa Corporate Initiatives Fund I, LP.
Caro used him company, known as Broken Rose Productions, Inc., to enter into a limited liability agreement with Yucaipa in early 2005. The resulting LLC, which was called R-Care Productions, LLC produced several films, including “Homie Spumoni,” which was distributed by Warner Brothers Entertainment.
When Warner Brothers sent distributions to R-Caro, the money should have gone to Yucaipa, which had provided much of the financing for the fil,. According to the court documents, however, “Caro stole these funds and used these funds to pay for his personal expenses, including, but not limited to, his mortgage and car lease payments.”