PROVIDENCE, R.I. (WPRI) – Two men accused of stealing the identities of terminally ill people and using them to take $30 million from insurance companies and brokerage houses have pleaded guilty.
Attorney Joseph Caramadre and Raymour Radhakrishnan both plead guilty in U.S. District Court in Providence Monday.
Both men are charged with wire fraud and conspiracy.
Prosecutors say they lied to terminally ill people to get personal information, which was then used to purchase bonds and annuities in their names without consent.
"Mr. Caramadre has made a decision that acceptance of this plea agreement is in his best interests and the best interests of his family," said Gregg Perry, Spokesperson for Joseph A. Caramadre.
Each faces a 10-year prison sentence under a plea agreement.
Caramadre and Radhakrishnan are scheduled to be sentenced in February.
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