Archive for the ‘Conspiracy’ Category

Federal Judge Jails Estate Lawyer Joseph Caramadre as Flight Risk

June 1, 2013

A Rhode Island estate planning lawyer’s effort to revoke his guilty plea in a controversial $30 million elder insurance fraud case was a “bizarre” and unjustified “hatchet job” on Joseph Caramadre’s former counsel, a federal judge said.

U.S. District Judge William Smith not only nixed Caramadre’s bid for a new trial but agreed with prosecutors in the Providence case that he should immediately be jailed as a flight risk, pending his sentencing in July, report the Associated Press and the Providence Journal.

“It was amazing to watch a defendant perjure himself saying he perjured himself the first time,” the judge said.

Caramadre and an employee were charged with defrauding dying individuals into allowing insurance investments to be made in their names.

They pleaded guilty to wire fraud and conspiracy shortly after their trial began in November.

Source:
Federal Judge Jails Estate Lawyer as Flight Risk, Nixes ‘Bizzare’ Effort to Revoke Plea

See Also:
Death Takes a Policy:  How a Lawyer Exploited the Fine Print and Found Himself Facing Federal Charges

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Trial Opens for 2 Accused of Defrauding the Dying

November 19, 2012

An estate planning lawyer and one of his employees fraudulently made more than $30 million by making investments in the names of people who were terminally ill with ailments such as cancer and Lou Gehrig’s disease, a federal prosecutor said during his opening statement at the pair’s trial Tuesday.

The lawyer, Joseph Caramadre, and his employee Raymour Radhakrishnan are charged with dozens of counts, including wire and mail fraud, identify theft, conspiracy and money laundering. Caramadre is also charged with witness tampering.
Prosecutor Lee Vilker told the jury that Caramadre bragged he had discovered a loophole in variable annuities and so-called “death-put bonds,” both of which offer a benefit if the owner dies.

“It’s not a loophole if you have to lie to get it,” Vilker told the jury.

Both men have pleaded not guilty.

Full Article and Source:
Trial Opens for 2 Accused of Defrauding the Dying