MEMPHIS, TN (abc24.com) - A top executive at a well-known Memphis investment firm is out of a job, busted on meth charges.
Duncan Williams, Inc. says Anthony Cacaro, 53, was fired after his arrest Monday in a sting by Shelby County Sheriff's detectives.
Don Malmo, chairman of the board of directors for Duncan Williams, said everyone at the company was "shocked" by the arrest.
According to online profiles, Cacaro worked at the company for decades, most recently as Senior Vice President of Institutional Sales.
In court records, investigators say a certified narcotics detector K-9 Heky was scanning packages on Monday when it hit on a scent. Investigators opened the box, which was headed to Cacaro's house in midtown Memphis.
According to those court records, investigators delivered the package to Cacaro's home and watched as another man drove up, picked up the package, and then entered the home.
A few minutes later, investigators, armed with a search warrant, entered the home and arrested Cacaro and the man who entered the home with the package, identified in court records as Joe Emison.
Investigators say they searched the home and found more drugs, finding "a black box containing 4 bags of methamphetamine, a black pouch containing 1 bag of methamphetamine, a plastic bag of marijuana, a glass marijuana pipe, a marijuana grinder, and various pieces of paperwork bearing Anthony Cacaro's name," the affidavit states.
At the time of Emison's arrest, he was working as an informant for the Sheriff's Office after being caught in a plot to mail meth from Georgia to Memphis.
"Emison admitted to receiving three packages containing methamphetamine," Emison's affidavit states. "Emison admitted to reselling the methamphetamine for profit to approximately four other individuals in the Memphis metro area."
In an email, the Sheriff's Office declined comment.
"Due to operational procedures and the fact this may lead to other investigations and possible arrests, we will politely decline to do anything at this time," SCSO Spokesperson Chip Washington wrote in an e-mail.
Cacaro is charged with intent to manufacture, deliver, and sell meth. He is free after posting $20,000 bond. He is due back in court on December 11th.