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Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
A deep dive into how advisors can best serve the evolving needs of their wealthiest clients
Tax Facts
Anticipate your clients' tax questions on Social Security, annuities and a range of investment products
Popular Financial Topics
Go deeper on emerging topics, as well as key firms and thought leaders
November 07, 2013 at 06:39 AM
PROVIDENCE, R.I. (AP) — A federal magistrate judge has determined an investment fraud that preyed on the dying cost insurance companies and bond issuers $46 million.
U.S. Magistrate Judge Patricia Sullivan issued her finding on Wednesday.
Her recommendation will be used when Joseph Caramadre and Raymour Radhakrishnan are sentenced.
They pleaded guilty last year to wire fraud and conspiracy. Caramadre was a well-respected attorney and Radhakrishnan was his employee.
They illegally used personal information from terminally ill people to purchase bonds and annuities that would pay out when a person died.
Sullivan says $33 million of the $46 million loss happened after Radhakrishnan joined the scheme.
The numbers will be used to help determine how much restitution the men should be ordered to pay.
Sentencing is scheduled for Dec. 16.
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