Man Gets 30 Years for Swindling the Elderly
A San Diego businessman was sentenced Tuesday to 30 years in prison for swindling 191 elderly people out of $13 million by selling them nonexistent life insurance investment policies.
After hearing from victims who lost their life savings and homes, Superior Court Judge Frank Brown sentenced Carmen J. Palmieri. “This is one of the longest sentences ever given out in a fraud case,” said Dist. Atty. Bonnie Dumanis. “And if anyone deserved it, this criminal did.”
Palmieri was convicted of elder financial abuse, securities violations and grand theft.
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