Skip to comments.McAuliffe among investors in Rhode Island insurance scam that preyed on dying people
Posted on 10/10/2013 7:05:49 AM PDT by Maelstorm
Virginia gubernatorial candidate Terry McAuliffe was one of dozens of investors with a Rhode Island estate planner charged with defrauding insurers by using the stolen identities of terminally ill people, according to court documents filed Wednesday by federal prosecutors in Providence.
McAuliffes name appeared on a lengthy list of investors with Joseph A. Caramadre, an attorney and accountant who obtained the identities of dying people to set up annuities that ultimately cost insurance companies millions of dollars, the documents say.
(Excerpt) Read more at washingtonpost.com ...
The AP has now renounced this story. They say that naming Terry McAuliffe was just a typo.
While I detest this cad (and he is a crook (Global Crossing)), we need to be sure of the facts.
Looks like the insurers were so eager to find suckers to sell these annuities to, that they didn’t check out the applicants too carefully. Almost an ideal scheme, where you swindle a guy who thinks he is swindling you.
The fact is that he is a Demokrat. If this would be any kind of Republican it would be running 24/7.
This will be cited for the next 5 years as proof that the media is not biased...
Nothing will come it. Corruption by democrats is a resume enhancer.
From the HotAir thread, quoting the original court document:
Update 11 pm ET: Looking at the court document, McAuliffes denial looks reasonable:On or about April 20, 2010, the Postal Inspector met with T.M. and asked if a $2,000 check he received from CARAMADRE was a payment for referring a terminally ill individual to CARAMADRE. T.M. intentionally lied to the Postal Inspector, telling him that the check was not a payment for referring a terminally-ill individual to CARAMADRE, but rather was a payment for construction work that T.M. had performed in CARAMADREs house.Was McAuliffe doing home construction in 2010? Doubtful. This looks like a huge screw-up at the Associated Press.
Let’s be accurate here. The AP retracted its own report that Terry McCauliff was going to be indicted by the feds for his role in this scam.
The WaPo story linked from this post says that Terry McCauliff was an investor with these scoundrels, made $1,000’s off their criminal schemes, and took campaign contributions from them. Terry McCauliff’s campaign corroborates his investment, and claims he has given the ill-gotten gains to charity. Claims he just invested lots of money with them without knowing what they were doing. Sounds like just the man to oversee Virginia’s finances.
Bottom line, McCauliff turns out to be an imprudent, unindicted scoundrel, not an imprudent indicted scoundrel.
It could be a clever setup — plant a bogus “scandal” that immediately fizzles, thus discrediting any and all similar scandals.