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| -Lurid Crime Tales- |
| Catholic Ponzi Scheme Derailed |
| 2009-01-09 |
| Richard S. Piccoli had a gift of gab and a message few could refuse. At a time when people watched their retirement funds evaporating by the month, Piccoli's mortgage company guaranteed them 7 to 8 percent interest on their investment. If the offer sounded too good to be true, Piccoli, who ran Gen-See Capital Corp. in Williamsville, offered Catholic priests as references. He advertised in Catholic newspapers from Buffalo to Anchorage, Alaska, and hit up fellow Knights of Columbus members. Since January 2007, more than $16 million came through his bank accounts. His clients included 50 priests, churches, religious orders and cemetery associations. |
| Posted by:Anonymoose |
| #5 Carbon Monoxide: Madoff's was a Jewish Ponzi scheme, because he preyed especially on Orthodox Jews. This guy preyed on Catholics. So yes, properly it was "Ponzi Scheme preying on Catholics Derailed". |
| Posted by: Anonymoose 2009-01-09 20:13 |
| #4 A better title would be Ponzi Scheme targeted at Catholics? |
| Posted by: Lagom 2009-01-09 15:55 |
| #3 "Gen See" - any relation to "Genesco" - The Coreleone Family business? A crook with a sense of humor? |
| Posted by: Luigi Wholurt4719 2009-01-09 15:14 |
| #2 How is this a "Catholic Ponzi Scheme" any more than the Madoff ponzi scheme is a "Jewish Ponzi Scheme". Do Catholics break the law? Sure but most of his victims were Catholic and many were clergy. To paint this as a "Catholic Ponzi Scheme" is just bigoted and the crack about communion wafers is just vile. Grow up. |
| Posted by: Carbon Monoxide 2009-01-09 14:51 |
| #1 At a time when people watched their retirement funds evaporating by the month, Piccoli's mortgage company guaranteed them 7 to 8 percent interest on their investment. Now that should scream at you like a siren. What did he plan on paying off with? Communion wafers? |
| Posted by: tu3031 2009-01-09 13:18 |