PROVIDENCE, R.I. -- The jury trial of Cranston lawyer and philanthropist Joseph A. Caramadre, who with his former employee is alleged to have defrauded terminally-ill people in a multimillion-dollar investment scheme, is set to begin today.
JOSEPH CARAMADRE
A grand jury indicted Caramadre, owner of the Cranston firm Estate Planning Resources, and Raymour Radhakrishnan in November 2011 on charges they defrauded elderly and dying people by persuading them to disclose their personal information and then using the information to buy investments. Prosecutors say the complex scheme netted the men and their investors $25 million in illicit profits.
The trial is expected to span three to four months, with as many as 100 witnesses. A jury of 12, with 6 alternates, was seated in October, when a federal judge denied Caramadre's bid to be tried before a judge, as opposed to a jury.
-- with reports from Katie Mulvaney, Journal staff writer