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
6 comments:
This particular lawyer needs to get a lot of time and publicity, because he thought up a terrible scheme which has to be stopped.
Is it possible that there is a lower form of life than guardianship abuse perps?
Joseph Caramadre, and his employee Raymour Radhakrishnan need to do some swinging. Good thing I'm not the judge in this matter I would give these two snakes the maximum sentence on each count. I hope the jury sees how low these bottom feeders are creating loopholes and send a loud message GUILTY GUILTY GUILTY on each count and how many others are doing this but haven't been caught with their pants down? It's all about the money folks - period. We're all walking targets, some targets are bedridden and dying being used to generate money for those with a criminal mind.
You won't post my comment of what I'm really thinking, what I have to say about the defendants Caramadre and Radhakrishnan due to offensive content.
So I will use all the control within me: harsh sentence to the worst of the worst prison for as long as possible, when the convicted felons come out feet first or in a body bag. There you have it I hope I made my thoughts clear.
This takes the cake for disgusting. Joseph Caramadre and his buddy, Raymour Radhakrishnan, have gone lower than low can go.
I hope their Mothers aren't around to see them do this.
Thank you for posting, NASGA.
May they both rot in hell for what they've done.
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