RI Estate Planner Calls Fraud Charges ‘Baseless’

PROVIDENCE, R.I. — A Rhode Island estate planner says charges that he orchestrated a $25 million fraud by stealing the identities of terminally ill patients are "baseless and unfounded."

Advertisement

Joseph Caramadre (kahr-ah-MAH'-dray) pronounced his innocence Wednesday outside U.S. District Court in Providence after his arraignment. He and former employee Raymour Radhakrishnan (rah-dah-KRIHSH'-nan) pleaded not guilty.

The 49-year-old Caramadre and the 27-year-old Radhakrishnan are charged in a 66-count federal indictment accusing them of conspiracy, mail fraud, identity theft and other charges.

Caramadre is an attorney and the president and CEO of Estate Planning Resources in Cranston. Radhakrishnan worked for Caramadre's estate planning business.

The men are accused of lying to terminally ill and elderly patients to access their personal information and then using it to purchase death-put bonds.