Ex-Genovese Wiseguy Joey Waterbed and Bro Greg Caponegro Terrorized Residents Of The Garden State

"The mob ain't what it used to be, number one, and he’s not even part of the mob. They’re both so fcking crazy the mob wants nothing to do with them. But what they have is this intimidation factor 'cause they are fcking nuts.”
--Police detective on the Caponegro brothers, Joseph and Gregory

“I'm about ready to go to fcking jail!”
--Greg Caponegro

Gregory Caponegro, brother of Joey Waterbed.....
Greg Caponegro, brother of Joey Waterbed.....

Story includes three videos, below
A violent former associate of the Genovese crime family (formerly in the crew of one of the most powerful capos to ever rule the waterfront) and his twin brother have been on something of a tear recently, allegedly terrorizing residents of the Garden State.

Many of said Garden State residents allegedly terrorized by the Caponegro brothers – that’s Joseph (Joey Waterbed) and Greg -- no doubt will feel some relief at knowing that the police have finally taken steps to put a damper on the not-so-dynamic duo’s over-the-top activities by arresting one of them last week. (This is the Mountainside, NJ, police who became famous for acting idiotically with a "big blue" dildo.)

Greg Caponegro was arrested for alleged crimes committed against one of his former tenants and the tenant’s then-pregnant wife; the couple had been illegally locked out of their home and their lives were threatened.

Joey Waterbed and Greg apparently have been working together on the street as a team for a long time -- their first arrest happened back in 1978 when the two robbed a Newark bank of $28,000.

Whatever heights they reached as associates plateaued when Joe Caponegro, who had worked for the Genovese crime family’s North Jersey crew under late capo Tino Fiumara, flipped and became the key turncoat in what's been hailed as one of the most successful waterfront racketeering cases in decades. Joey Waterbed Caponegro helped the feds convict 21 gangsters and corrupt union officials of racketeering on the New Jersey piers. The charges were a featured part of the FBI roundup of 127 mob-connected gangsters from six states on Mafia Takedown Day 2011.

And all these years later the two were still acting like mobsters threatening to hurt or kill anyone including pregnant women and children who get between them and a buck.

The Caponegro brothers have been running a real-estate extortion enterprise supposedly worth $30 million. As part of that operation, over the past two years they have threatened several families who rented from them in their bid to fill their pockets.

"I got money coming out of my kazoos. "

As per our research, we count five separate families that were threatened by the brothers. Among them is a widow whose husband died a hero (he died saving three boys from a riptide at the Jersey Shore). She and her children were targeted after she refused to sell the Caponegro brothers property in which she had a controlling interest for the price they wanted to pay: $600,000, considerably below the market value.

(And Greg’s more than talk. In fact, there's supposedly audio of him strangling to near-unconsciousness the tenant speaking in the above clip.)

Another former tenant got into a howler of an argument with Greg over $20,000, the amount Greg demanded after the tenant sought to break his monthly lease and offered to pay one-month's rent of $3,500. (When the tenant asked why he owed $20,000 Greg Caponegro can be heard in the above video saying “to keep you healthy.”)

Joe and Greg "allegedly" broke into the tenant's home in Mountainside, New Jersey, in an attempt to collect the $20,000. The brothers locked the tenant and his pregnant wife out of the home in which they had lived for nearly six years. The brothers threatened to put Joe Caponegro's pit bull in the house. And in recordings and police body cams, Greg can be heard threatening to stab the tenant’s pregnant wife in her stomach.

After Greg Caponegro threatened the tenant’s life, the tenant, with seeming regret, agreed to fork over $10,500 and forfeit his $3,500 security deposit.

Greg Caponegro, in a drunken rage, shows up at the house and threatens to "cripple" the tenant and admits to committing murder already -- and he also touts his "organized crime affiliations with the Genovese crime family."

Caponegro continues to harass the tenant and his family. On Christmas day Caponegro left the former tenant a voicemail during which, in a cloyingly sweet exaggerated voice, he can be heard saying" “I saw your baby,” and “there is not a day that goes by that I don’t think of you,” before demanding $1,000 more.

Various lines of Greg's dialog caught on recordings:

“Call the state police and call the fcking FBI!”

“We’re going to have a problem like you never seen before.”

“I am not a fcking wannabe.”

“I am about ready to go to fcking jail!”

“I could cripple you – and I got money coming out my ass and I’ll hire the best fcking lawyer.”

“Maybe I’ll do two years—but I just got fcking done doing six!”

You think I need that motherfckin money? I am worth 30 million fcking dollars!”

“I threatened to put a fcking knife in your little wife’s fcking stomach!”

A police detective once said of the Caponegro brothers:

“The mob ain't what it used to be, number one, and (Greg's) not even part of the mob. They’re both so fucking crazy the mob wants nothing to do with them. But what they have is this intimidation factor ‘cause they are fucking nuts. This isn’t the America you learned about in 4th grade.”