More on McAuliffe’s Shady Investment

As Ihave previously discussed, Virginia gubernatorial candidate Terry McAuliffemade at least $47,000 off an investment into Joseph Caramadre’s schemetargeting the terminally ill.  McAuliffethen failed to list the investment on financial disclosure forms during his2009 campaign.

McAuliffeclaimed to be a “passive investor,” but at least two investors, a former judgeand a Hollywood producer, knew they were betting on specific, dying individuals.

Basedon a loophole in insurance annuities, Caramadre helped McAuliffe receive astranger’s death benefits.  McAuliffe’sinvestment paired him directly with an ailing mechanic, who he claimed was anacquaintance.  McAuliffe’s campaignclaims he did not know the mechanic or why they were listed as acquaintances.

See Laura Vozzella, In Annuity Deal Tied to McAuliffe, 2Investors Knew They Bet on Specific, Dying People, The Washington Post,Oct. 26, 2013.