Family ties bind bank behind $50M taxpayer-backed coronavirus loan to Poconos casino
The Scranton-area bank directed by landfill magnate Louis A. DeNaples has handed out the biggest loan yet — for $50 million — from a taxpayer-backed program to help mid-sized businesses during the coronavirus pandemic.
The recipient: the Mount Airy Casino Resort, owned by trusts for DeNaples’ children and grandchildren. DeNaples had to relinquish his own ownership to resolve charges that he’d concealed his ties to organized crime.
“This money was meant to help Main Street businesses, not casinos owned by families with alleged mafia connections,” said Kyle Herrig, president of left-of-center watchdog group Accountable.US.