Guilty pleas stand for convicted Rhode Island estate planner

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BOSTON >> The 1st U.S. Circuit Court of Appeals will not reconsider a Rhode Island estate planner's bid to withdraw guilty pleas to charges that he ran a $46 million investment scheme targeting the terminally ill.

The Providence Journal reports (http://bit.ly/1nkqg89 ) the federal appeals court in Boston declined Tuesday to re-hear arguments from Joseph Caramadre. The Cranston resident had been seeking to be allowed to withdraw his guilty pleas to conspiracy and fraud charges.

Caramadre and an employee were convicted in February 2014 of using the personal information of dying people to purchase life insurance investments that paid out when they passed. Caramadre paid the sick victims a few thousand dollars for their signatures on documents.

The court's decision upholds a three-judge appeals panel's ruling last month to let the pleas stand.


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