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McAuliffe among investors in Rhode Island insurance scam that preyed on dying people
http://www.washingtonpost.com ^ | Published: October 9 | By Fredrick Kunkle

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.

McAuliffe’s 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 ...


TOPICS: News/Current Events; Politics/Elections; US: Rhode Island; US: Virginia
KEYWORDS: clinton; conman; donors; fundingtheleft; josephcaramadre; kencuccinelli; mcauliffe; scam; terrymcauliffe; va2013; virginia
Terry just agreed to give more than 70K to charity to cover this. A passive investor?
1 posted on 10/10/2013 7:05:50 AM PDT by Maelstorm
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To: Maelstorm

The AP has now renounced this story. They say that naming Terry McAuliffe was just a typo.


2 posted on 10/10/2013 7:22:50 AM PDT by yefragetuwrabrumuy (The best War on Terror News is at rantburg.com)
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To: Maelstorm
News this morning is that the AP is retracting this story. May be a different "TM" suspect.

While I detest this cad (and he is a crook (Global Crossing)), we need to be sure of the facts.

3 posted on 10/10/2013 7:23:44 AM PDT by Martin Tell (Victrix causa diis placuit sed victa Catoni.)
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To: Maelstorm

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.


4 posted on 10/10/2013 7:23:55 AM PDT by proxy_user
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To: Martin Tell

The fact is that he is a Demokrat. If this would be any kind of Republican it would be running 24/7.


5 posted on 10/10/2013 7:28:05 AM PDT by Busko (The only thing that is certain is that nothing is certain.)
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To: Maelstorm

This will be cited for the next 5 years as proof that the media is not biased...


6 posted on 10/10/2013 8:01:51 AM PDT by ltc8k6
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To: Maelstorm

Nothing will come it. Corruption by democrats is a resume enhancer.


7 posted on 10/10/2013 8:18:40 AM PDT by I want the USA back (There's no autocorrect for stupidity.)
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To: Maelstorm
It turns out that some idiot reporter assumed that the initials "TM" referred to Terry McAuliffe.

From the HotAir thread, quoting the original court document:

Update 11 pm ET: Looking at the court document, McAuliffe’s 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 CARAMADRE’s house.
Was McAuliffe doing home construction in 2010? Doubtful. This looks like a huge screw-up at the Associated Press.

8 posted on 10/10/2013 8:49:30 AM PDT by shego
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To: yefragetuwrabrumuy

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.


9 posted on 10/10/2013 8:58:40 AM PDT by Chewbarkah
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To: ltc8k6

It could be a clever setup — plant a bogus “scandal” that immediately fizzles, thus discrediting any and all similar scandals.


10 posted on 10/10/2013 10:43:53 AM PDT by shego
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