Charges have been bound over for trial against Joseph Cordaro, 60, of Honesdale, for allegedly exploiting the elderly owner of Cordaro's Restaurant to prevent it from being sold, according to the Wayne County District Attorney's Office.
In the process, the owner, who was in a nursing home at the time, transferred the landmark restaurant and bar at 186 Grandview Ave. to Cordaro.
The establishment was started in 1954 by the late Philip Cordaro Sr. In 2023, the property was being sold to an automotive parts dealership, which received borough approval to replace the restaurant with an auto parts business. The restaurant went on reduced hours in July 2023 pending finalization of the transaction, and remained open while the electronic sign out front stated that the dealership needed more time.
Joseph Cordaro has been charged with a first-degree felony of financial exploitation of an older adult or care dependent person and a second-degree misdemeanor of securing execution of documents by deception. Magisterial District Judge Kay Bates held a hearing June 24, where she deemed there was sufficient evidence to proceed with charges.
According to the press release from the District Attorney's A.G. Howell's office, Wayne County detectives received a complaint on April 24 that “the victim... was wrongly taken advantage of by the defendant.”
Along with the business, the victim also owned the real estate, liquor license and all the related personal and business property.
The victim, the release states, is over 60 and is dependent on care. The report continues that Cordaro "allegedly defrauded, unduly coerced, and deceived the victim into signing documents in an attempt to transfer ownership of the business to the defendant."
The release says that "in May 2019, the victim’s mental capacity began to decline to the point where the victim is now diagnosed with cognitive impairment resulting from vascular dementia," adding that the victim "is not capable of making decisions in the victim’s own best interest."
In the months leading to April 2024, Cordaro is alleged to have "continuously nagged, harassed, hounded,and in the victim’s own words the defendant 'drove the victim nuts,'" as he unsuccessfully tried to have the victim sign over ownership.
"The defendant promised to pay the victim, but the defendant stressed he preferred the victim 'give' him the property," the district attorney's release states. "The defendant never paid any money to the victim for the property."
"Then, on or about April 12, 2024, the victim was admitted into a nursing home for an approximate 7-10 day planned respite while her caregiver and power of attorney travelled out of state," the release continues.
"It is believed that during each visit, the defendant brought with him various legal documents and asked the victim to sign these documents to revoke the current power of attorney, to appoint the defendant as power of attorney, a codicil to transfer ownership of the business, and a deed to transfer ownership of the property to the defendant," the release states.
Chief Wayne County Detective Peter Hower, who prepared the affidavit asking for the arrest warrant, added that a "purported codicil” was attached to the deed stating it was the victim's desire to take these actions and adding that the agreement with the automotive supply company be void, without extension.
The deed was recorded in the Wayne County Recorder of Deeds Office.
The detective's affidavit further states that because of the alleged actions by Cordaro, the automotive supply company was not able to perform its contract. Hower added, “and delays with the contract will be caused resulting in a monetary loss to (the victim) in the amount of up to but limited to the $50,000.00 deposit received under the contract, in addition to $500,000.00, plus or minus, in expected profits under the contract.”
Nursing home staff refused to witness and notarize the documents, the district attorney's release states. Instead, Cordaro brought in an outside notary. This release adds that the victim also risks potential lawsuits due to the alleged actions of the defendant.
District Attorney Howell commented, "My office will continue to fight and protect the elderly who are unfairly, unjustly, and wrongly taken advantage of. We need to care for our elderly population, not cheat them out of their property and assets."
Peter Becker has worked at the Tri-County Independent or its predecessor publications since 1994. Reach him at pbecker@tricountyindependent.com or 570-253-3055 ext. 1588.
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