DFS Arrests Two S. Fla. Agents in $1.2 M Ponzi Scheme

May 17, 2005

  • August 9, 2006 at 10:58 am
    Concentrate on the Positive says:
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    Personally – I\’m concentrating on the positive, if there is a shot that this Veravest Company had and should have had Masciarelli / as a licensed agent, watched more carefully of all his going\’s on – then there is a shot of \”…shaking some trees here and seeing what falls out\”! I\’m personally going to write to this company and to that law firm. If they\’ve got a Class Action Suit going against Veravest because of Masciarelli, I\’m jumping on the band wagon. And \”gh\” you are too negative, you and \”ced\” think you know it all. Instead of being so \”junior highish\” and so inviscerative to anyone with an idea, why not grow up and put some positive input on this site, instead of just shooting down anyone that has an idea or anything informative to say.

    Petrarcas Sentencing Mitigation is still slated to come up, I\’m writing to that Judge too, you two must have more of a positive cash flow than I do, because I have to make something clear…I want my money. I don\’t care who pays it, how slowly I get it back or where the money comes from…I WANT MY MONEY! If either of you had any genuine monies invested you wouldn\’t be so obtuse, you\’d be more open and more receptive to ideas.

    Rememger something, the good Lord gave you two eyes, two ears and one mouth. That means listen and see twice as much as you let flow from your one brain.

    Let\’s work together here. Stop criticizing.

  • August 9, 2006 at 3:49 am
    c says:
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    Oh my god you people should be ashamed of yourself with all the name calling…grow up…a SERIOUS crime was comitted…and as far as i\’m concerned if steve was that worried about making good he would have come to court with a hell of alot more than he did…lets face it…his family wasnt willing to give up anything…and dont go saying they did…there was an awful lot of money taken and an awful lot of money that is gone…had to be spent somewhere and it was not all by tom…steve admitted he was misled which i believe is probably true but he could have come forward and HE DIDNT>…..so therefore if you do the crime you pay the time….
    and i have family members that invested so i do know what i am talking about…they lost a very good portion of their lives savings because they were misled by steve let me repeat BY STEVE ….and he did not invest their money like he promised to do…
    this whole situation is disgusting and lets face it if they got out they would make like what $500 a week then they would need living expenses etc so what the victims would get $20 per month each…dont bother…..
    c

  • August 9, 2006 at 4:11 am
    Dynamics! says:
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    Cindy, Cindy, Cindy – I remember you, your the gal who flew down from RI. You were supposed to be watching your family\’s money for them and help and guide them with their finances. Obviously you didn\’t do your job all that well, or your poor family wouldn\’t be in the situation they\’re in today. You said in court that Steve had handled your families\’ finances for years and they trusted him because he had always done right by him for over 20 years. Well, first of all the only thing you said right was that Steve was mis-led, he was. However, he did give statements to the State – twice, and it was too late.
    You live in RI, did you ever see a snowball? OK, now we\’re on the same page. But, what you\’re underestimating is that Steve\’s earning potential is far greater than what you may think it is. He also is coming to the Mitigation with more dollars than he did at the Sentencing.

    Even if the amount he were able to come up with was a small amount, why would you scoff at that? It\’s until the dollar amount is satisfied or he dies trying to do it. I fail to understand your skepticisim and your criticisim. Perhaps your feeling guilty for not having been more on top of the situation than you were. But guess what? Had you been there, I doubt your family would have done anything any differently.

    Steve Petrarca always had the reputation of being a great businessman, an honest one and one a client could call anytime for a favor or an appointment. His head always was held high and still can be, he got duped like the rest of us. He lost plenty, almost lost his family in the mix. He also put plenty of dollars into that company and they\’re all gone today, thanks to his partner.

    I remember him letting clients use one of his cars when they were in a car accident and couldn\’t afford the rentals, or kicking in the rental difference when he felt badly for some of his P&C clients back in RI. Come on, give the guy a break. You\’re bitter, but don\’t be stupid. I want my money and you should want it for your family. Being negative and ugly about a situation gets nobody anywhere.

  • August 9, 2006 at 4:29 am
    cee says:
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    This response is to the posting by \”c\”. Bravo.
    I too have a relative who lost money. None of us should feel bad losing money to a con man. That\’s what they do and they obviously did it very well. No \”Great\” businessman would have let it go that far. Nice person or not, no \”nice person\” would have let it get to the point where he was \”TOO LATE\” to do anything about it.
    You and I realize that no Judge regardless of how much money Steves family puts forth, is going to let him free. Their may be a sentence reduction at best. We are not dreamers. We are awake through this entire situation. I call no names, no one is a winner in this- the Victims, Steve, Steves family. The best we all can hope for is some satisfaction of our loss of money. Steve and his family can only hope to see him in less than 25 years.

  • August 10, 2006 at 7:38 am
    jo says:
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    Don\’t you people realize these two men are NOT going anywhere. They will not be getting a job at McDonalds or anywhere else. They will be serving their very large debt to society. With any luck, their families will come across with a big chunk of money so all the investors are not splitting up pennies. Think happy thoughts folks. Money may be on the way but it won\’t come from Masciarelli and Petrarca directly. The only job they have for the next bunch of years is making big rocks into little rocks.

  • August 10, 2006 at 4:45 am
    How cavalier of you! says:
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    If this is how you truly feel, then you really must have a lot more money than any of the rest of us, who have our monies invested. If I have a shot of getting some, any or all of mine back, you can bet I\’m going to do it. If that means letting them out and having them turn their paychecks over the the State and us getting it, however slowly, that\’s the way it\’ll be.

    If you remember correctly, when we made the investments, we had to fill in a line for beneficiar; so someone we care about will be getting our dollars, maybe even after we\’re gone. I don\’t care, but I kind of like the idea of having them on my payroll.

    So don\’t you go giving my money away and saying we don\’t want it, we do.

    Remember one thing, if you have any brains in your head you should be thinking: THE NEED FOR RESTITUTION FAR OUT WEIGHS THE NEED FOR INCARCERATION!

  • August 11, 2006 at 10:27 am
    kl says:
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    You tell \’em C!!! Money was stolen. Those two swindlers robbed money and that is that. Good guy my foot. Thief. Thief. Thief. Just because he made ONE mistake Mary, that doesn\’t make him, as one of the bloggers called him, \”St. Steve\”. The NICE guy committed a felony. He deserves what he gets. Check out his mug shot on-line. He\’s doesn\’t look as though he\’s living the high life up their in Hamilton County. Do the crime, go to jail.

  • August 11, 2006 at 4:20 am
    Ann Marie says:
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    C – JO,
    You\’re both bitter! I can\’t believe you wouldn\’t want some of the money, if not all of it back. I know I want mine. You are right this site is dumb and the judge doesn\’t read it and who cares. I do think it\’s monitored by the Detective and he takes off and leaves on what he elects to, for whatever reason. Political year in Florida.

    Just be patient. Pray to St. Theresa, maybe something will work out. Good things come to those who wait.

  • August 11, 2006 at 5:03 am
    NICARAGUA says:
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    C – You were in court, you wrote about what you said he heard Steve Petrarca say and you weren\’t correct there, did he pay bills? Yes, not his own, on the houses in Port St Lucie that are owned by American Income.

    Did you hear or didn\’t you hear Tom Masciarelli admit he has an off shore account in Nicaragua? Finally, something is getting through to you, if the money is someplace – that\’s it.

    That company wasn\’t in busness long enough for spend that much money. Steve\’s life style didn\’t change, but Tom\’s sure did. Plus he had that other business of his going that he owed interest on. You just don\’t have all the facts.

    You should write to Steve\’s wife, she gave her address before, she\’ll fill in the blanks for you. Her address is right there in the blog beside her name.

    Steve is a good guy, let\’s face it – your family wouldn\’t have continued to do business with him unless he was. He didn\’t let them down for over 20 years, don\’t you think something has to be up here? Isn\’t there something that doesn\’t make sense to you?

    Mary is right, she is his PR person, she knows what happened, she witnessed it, a few of us did. And, guess what – we all still stick by Steve and go and visit him and write to him. He\’s a good guy who made a mistake. He helped a friend and beieved his friend would and could change. It didn\’t happen. Does he have regrets, you bet he does and he\’s sorry the whole thing happened. Can he change things now? No. What\’s done is done, but given the opportunity he\’d rectify things.

  • August 11, 2006 at 5:22 am
    c says:
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    BOTTOM LINE….ALL OF MY GRANDPARENTS MONEY IS GONE..WE COULD KEEP GOING BACK AND FORTH AND BACK AND FORTH….A MILLION DOLLARS IS ALOT OF MONEY AND THEY BOTH TOOK THE MONEY….LET ME SAY IT AGAIN SINCE YOU PEOPLE JUST KEEP PICKING UP ON ANYTHING I SAY AGAINST STEVE …..I HAVE SAID BEFORE THAT STEVE WAS ASSOCIATED WITH MY GRANDPARENTS FOR 20 YEARS AND THAT IS THE WORSE PART…THEY TRUSTED HIM….I DO BELIEVE THAT HE WAS MISLED BY TOM BUT EVEN WHEN HE FOUND OUT HE NEVER WENT TO THE AUTHORITIES..THEY CAME TO HIM…AND OVER A MILLION DOLLARS WAS STOLEN HERE..WE ARE NOT TALKING PENNIES…..
    I WILL CONTINUE TO SAY….SHOW ME SOME SIGNIFICANT MONEY THAT MY GRANDPARENTS CAN USE IN THEIR LIFETIME I WILL HAVE SOME FAITH…THEY EARNED THE MONEY AND THEY HAVE BEEN ROBBED OF THE AMERICAN DREAM OF BEING COMFORTABLE IN THEIR GOLDEN YEARS…
    MOST OF YOU STEVE SUPPORTERS KEEP ACTING LIKE NO MONEY WAS STOLEN….I BELIEVE HE WAS MISLED BUT HE STILL TOOK THE MONEY AND YOU ARE NOT GOING TO TELL ME THAT HE USED NONE OF IT FOR HIS PERSONAL USE….
    AGAIN,…..SHOW ME THE MONEY AND I WILL HAVE FAITH…
    C



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