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McAuliffe on investors list in RI benefits case

8:00 PM, Oct 9, 2013   |    comments
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RICHMOND, Va. (AP) -- Documents in a federal fraud case show Virginia Democratic gubernatorial nominee Terry McAuliffe was among scores of investors with a Rhode Island estate planner who allegedly profited from death benefits paid on policies issued on terminally ill people without their knowledge.

A 2011 fraud, conspiracy and identity theft indictment alleges Joseph Caramadre and an aide stole terminally ill people's identities and used them to falsely secure annuities or bonds that paid off when those people died.

McAuliffe's name appears on a long list of Caramadre's investors released in a Wednesday hearing in U.S. District Court in Providence, R.I.

There is no evidence that McAuliffe or other investors knew about efforts to defraud the terminally ill.

McAuliffe's campaign did not immediately respond to questions about the investment from The Associated Press.



(Copyright 2013 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)


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