Wednesday, October 23, 2013
As I have previously discussed, Joseph Caramadre pled guilty to scamming the terminally ill. Virginia gubernatorial hopeful Terry McAuliffe invested $33,000 in Caramadre’s scheme, making him a profit of $47,000.
In McAuliffe’s 2009 financial disclosure statement, he failed to include any mention of the then-active investment with Caramadre. McAuliffe claims he was a “passive investor” unaware of any wrongdoings and that he failed to disclose the investment on the advice of his accountants and lawyers.
McAuliffe has donated $74,000 to charity, which supposedly represents his earnings from the scheme as well as a campaign donation from Caramadre.
See Laura Vozzella, McAuliffe Did Not Disclose Death-Benefit Investment, Washington Post, Oct. 14, 2013.
Special thanks to Richard E. Mattersdorff (Attorney at Law, El Paso, TX) for bringing this article to my attention.