Wednesday, August 14, 2013
As I have previously discussed, Cranston estate planner Joseph A. Caramadre currently sits in prison for his role in an investment scheme targeting the terminally-ill. A district court ordered Caramadre to be held in custody as a suicide risk while he awaits his sentencing. Caramadre appealed this order.
The 1st U.S. Circuit Court of Appeals has refused to release Caramadre from prison, concluding he failed to raise a “substantial question” in contesting the district court order.
Caramadre was the mastermind behind a scheme to steal identities of terminally ill people and use this information to purchase investments.
See Katie Mulvaney, Federal Appeals Court Rules Cranston Estate Planner Caramadre Should Remain in Prison, Providence Journal, Aug. 9, 2013.