U.S. Attorney’s Office Says Massachusetts Man’s Fraudulent Life Settlements Transactions Defrauded Victims Of $4 Million

U.S. Attorney’s Office Says Massachusetts Man’s Fraudulent Life Settlements Transactions Defrauded Victims Of $4 Million

A Massachusetts is the subject of federal wire and mail fraud charges stemming from his involvement in a number of life settlements transactions, according to federal officials.

Life and Health Insurance News reports that the "U.S Attorney’s office filed charges in Massachusetts district court against Joseph Gennaco, 67, of Winthrop, Mass., on five counts of wire fraud and 13 counts of mail fraud."

He is said to have defrauded about 20 individuals of approximately $4 million.

The full story from Life and Health Insurance News is here; the U.S. Attorney's Office press release is here.

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