PROVIDENCE – Federal prosecutors have asked a judge for a 10-year prison term for a Rhode Island lawyer who led a $46 million investment fraud that preyed on the dying, The Associated Press reported last week.
Ten years is the maximum allowed under a plea agreement signed by attorney Joseph Caramadre, who pleaded guilty to wire fraud and conspiracy.
Prosecutors said in papers filed last week that Caramadre deserved the sentence because of the nature of the crime and his lack of remorse. He’s scheduled to be sentenced this week, the AP said.
Caramadre illegally used personal information from terminally ill people to purchase bonds and annuities that would be paid out when a person died. •