Estate Planning Lawyer and Associate Pleaded Guilty to Fraud and Conspiracy

  As I have previously discussed, estate planner, Joseph Caramadre was recently convicted for stealing millions from insurance companies and bond issuers. Caramadre was taking the identities of terminally ill people and defrauding them.

Recently, a federal magistrate judge, Patricia A. Sullivan, made recommendations that will be provided to the U.S. District Court Judge, William E. Smith, for sentencing on December 16. Sullivan believes that Caramadre should be held liable for $46 million dollars as the leader of the fraudulent investment scheme and his former employee, Raymour Radhakrishnan, should be held accountable for $33 million because of his more recent involvement since 2007. Unfortunately, Sullivan still feels that the victims and their families will not be fully compensated because the court is unable to order restitution for pain and suffering.

See Katie Mulvaney Court: Cranston Estate Planner Wrought $46 Million In Losses, Providence Journal,  Nov. 7, 2013.

Special thanks to Brian Cohan (Attorney at Law, Law Offices of Brian J. Cohan, P.C.) for bringing this article to my attention.