Estate planner, Joseph Caramadre wasrecently convicted for stealing millions from insurance companies and bondissuers. Caramadre was taking the identities of terminally ill peopleand defrauding them. His punishment will be determined sometime next month. Gubernatorialcandidate for Virginia, Terry McAuliffe was one of many who invested with Caramadre. Despite his role as an investor, there is no evidence that McAuliffe had anyknowledge about what Caramadre was apart of. A spokesperson on Mr. McAuliffe’sbehalf claims that he made a $47,000 profit from his investments with Caramadre. As a result,he has donated that same amount to the American Cancer Society.
See Mark Maremont, Virginia’s McAuliffe Was Investor With Convicted Estate Planner, The Wall Street Journal, Oct. 10, 2013.
Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.
