RI Men Plead Guilty to Cheating the Terminally Ill

By: Associated Press Email
By: Associated Press Email

PROVIDENCE, R.I. (AP) - Two men accused of stealing the identities of terminally ill people and using them to reap $30 million from insurance companies and brokerage houses have pleaded guilty with their trial already under way.

Lawyer Joseph Caramadre (cah-rah-MAH'-dray) and his employee, Raymour Radhakrishnan (rah-dah-KRISH'-nahn), pleaded guilty Monday in U.S. District Court in Providence to wire fraud and conspiracy. They each face a 10-year prison sentence under a plea agreement. Sentencing is scheduled for February.

Prosecutors say they took out variable annuities and so-called "death-put" bonds that would pay out when a person died. Authorities say they lied to terminally ill people to get personal information that was used to purchase bonds and annuities in their names without consent.

Their trial began last week.


Comments are posted from viewers like you and do not always reflect the views of this station.
powered by Disqus
KOLO-TV 4850 Ampere Drive Reno, NV 89502
Copyright © 2002-2014 - Designed by Gray Digital Media - Powered by Clickability 180014591 - kolotv.com/a?a=180014591
Gray Television, Inc.