The Rhode Island Supreme Court has suspended the law license of Joseph Caramadre, the Cranston estate planner and lawyer convicted of being the architect in a scheme that exploited terminally ill people.
Caramadre has appealed his federal conviction. The state’s highest court suspended Caramdre’s right to practice law in the state until his appeal is resolved. ``Joseph Caramadre is hereby suspended from the practice of law in this state pending the outcome of his appeal and until further order of the court.’’
Cranston estate planner Joseph Caramadre will be sentenced Monday morning for his role in a scheme that bilked terminally ill people of 46-million dollars.
Prosecutors will ask that he be locked up for ten years.
Caramadre and an associate pleaded guilty last year to fraud and conspiracy. Federal prosecutors say Caramadre was the mastermind behind an investment strategy in which he stole the identities of terminally ill people. He illegally used that information to purchase bonds and annuities that would pay out when the person died.
What is the tea party’s future in Rhode Island Republican politics? RIPR political analyst Scott MacKay talks tea with the two announced GOP candidates for governor.
In April, 2010, at the height of the tea party insurgency, then-Rhode Island Gov. Don Carcieri addressed a boisterous rally on the south steps of the Statehouse. To 500 or so tea party activists, Carcieri bellowed, ``I love the tea party, I love the tea party.’’
The Washington Post has the story on how Rhode Island's Joseph Caramadre case has reverberated in the Virginia governor's race. The story, by Post reporter Laura Vozzella, describes how ``a dying mechanic wanted a few thousand dollars to leave to his wife, two sons and infant daughter. A politically connected millionaire, now running for Virginia governor, wanted to make some money. And a Rhode Island estate planner wantd to become ambassador to the Vatican.
``All three came together in late 2006 in a deal struck just two months before the 44-year old mechanic died of cancer.''
Congressman Jim Langevin says he was among the legions of people who were duped by Cranston estate planner Joseph Caramadre. The congressman is donating money he made as a profit from Caramadre’s unscrupulous scheme.
Congressman Jim Langevin said he unwittingly made a profit on an investment scheme that preyed on terminally ill people. Langevin said he earned a profit of 86-hundred dollars from Joseph Caramadre’s Cranston estate planning business. Langevin said he donated profit to charity as soon as he became aware of Caramadre’s business practices.