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

May 17, 2005

  • September 2, 2006 at 1:46 am
    lol says:
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    This is the end of my blogging career. To debate means to have an equal to argue a point with. This group of of felon supporters are the most un-educated dreamers on this planet. Masciarelli AND Petrarca committed this crime. Masciarelli AND Petrarca are in JAIL for this crime. End of story. So keep those jailhouse cards and letters coming in folks, because the judge gave them both barrels and will not back peddle. Masciarelli pissed him off the last time in court and his mood probably won\’t change much. So live with what the two of them did, stop glorifying one and bad mouthing the other. Two CROOKS, TWO jail sentences,TOO bad! Shalom.

  • September 21, 2006 at 9:03 am
    BB KING says:
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    I BELIEVE ALL OF YOU WHEN YOU STATE
    STEVE WILL MAKE US WHOLE. TOO BAD THE CASE WAS PUT OFF TO OCTOBER BECAUSE HE
    PROBABLY WAS GOING TO ANNOUNCE THE PLAN
    THAT YOU ALL WILL FUND. GET BEHIND HIM AND HELP HIM PAY US BACK.

  • September 21, 2006 at 9:17 am
    Finally BB King makes sense! says:
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    My goodness, is that BB King making some sense here? I thought all you were capable of was blowing smoke through that horn of yours!

    If we the Investors/Victims get behind Steve, and yes; he\’s going to need patience and some help, he can do it inspite of the pitfalls his former partner put in path, inspite of the money he stole from our properties that Steve bought for American Income.

    Steve can do it and Steve will do it.

    Patience is gift from God, so will be the fact that the Judge will be open minded to accept a plan that will work for the Victims. There is strength in numbers – let\’s stick together and work together. Being divided will get us no where and surely not our money.

    THE NEED FOR RESTITUTION FAR OUT WEIGHS THE NEED FOR INCARCERATION.

  • September 24, 2006 at 9:38 am
    BB KING says:
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    PLANNING TO GET MY LIFE BACK ON TRACK SO NEED TO KNOW HOW MUCH I CAN EXPECT TO GET BACK FROM THE STEVE FUND IN OCT. CAN YOU ALL INDICATE HOW MUCH YOU HAVE CONTRIBUTED TO THE FUND SOON.

  • October 23, 2006 at 9:59 am
    BB KING says:
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    I WAS UNDER THE IMPRESSION STEVE\’S MANY
    SUPPORTERS WOULD STEP UP AND HELP HIM GIVE BACK FUNDS HE STOLE FROM US.WHAT HAPPENED? HE GOES BACK TO JAIL AND WE GET
    NOTHING.ALL THE SUPPORTERS NEED TO CHIP IN
    AND HELP THOSE WHO LOST THEIR SAVINGS.FACE
    IT PLEASE,THE VICTIMS ARE NOT THE BAD GUYS.

  • October 25, 2006 at 3:49 am
    George says:
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    You are right you’re not the bad guys and you should get your money back, but it’s not going to happen because Judge Rapp doesn\’t care about you guys the victims, Steven will appeal the conviction and get out in about 18 months to 2 years, and NEVER have to pay you back, THIS VERY SAD… the court made a big mistake.

  • October 26, 2006 at 7:03 am
    An Invested Observer says:
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    There is nothing else to say really, it\’s out there for all to see…the State of Florida and Judge Rapp just plain never cared about the Investors/Victims in this case. Hopefully they\’re all the wiser, poorer; but wiser.

    When someone comes to the table with a factual plan and money in hand, to be turned away is a shame and a travesty in justice for all concerned.

    To let someone sit in jail who is willing to work and make money to back back – who is the judge to say no, who is he to speak for the victims who signed letters stating that the need for restitution far outweighed the need for incarceration.

    Especially, after he said in his opening statements in January at the Pre-Plea Inquiry, \”…I see no reason to put someone in jail who is willing to make restitution\”. It just doesn\’t make any sense. Maybe he just doesn\’t like Italians.

    Restitution would have been made on a regular basis, no one would have gotten all their dollars back all at once, but they all were willing to get slow interest checks; so where\’s the difference? All signed 5 year notes that clearly stated their principal would have been tied up for that amount of time.

    Perhaps it\’s his reputation that he\’s still trying to restore from that case in 2003 when he got such bad publicity for a restitution case, all of which he made clear as well on the stand for the record.

    All I know is that it\’s a crying shame for the victims who really wanted and needed their money and who counted on those interest checks each month.

    I was there and I still can\’t believe what I saw or heard and they call this American Justice – I think not, it\’s more like an American Injustice, to be certain!

  • October 26, 2006 at 9:34 am
    S says:
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    Could someone give us a brief summary of what happened in the court room in Oct. When reading these postings you only get bits and pieces. Will someone be kind enough to fill us in? Steve gets out in 2 years? What happened to the 25 year sentence?

  • October 26, 2006 at 9:53 am
    Meridith says:
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    The supporters offered both money and two men, (investors) got up and offered Steve guaranteed work if let out. Two separate jobs he\’d work both to make a quicker restitution for the victims. His council argued that the investors should be paid back. The state, Mike Rochelle, said that because Steve\’s father who came down and offered $40,000 was elderly, his money was no good. It\’s also on record that Aaron Cohen, Steves attorney was offering some funds as well, and if let out to start work asap, the funds would have grown, and investors would begin to recieve checks. Now, unfortunately, Judge Rapp and states attny Rochelle have taken away that possibility. NO MONEY GETS PAID BACK. They said Steve was a flight risk. He has never missed a court date, and he could have been fitted with an ankle bracelet that allerted police before he left his neighborhood, so money was offered but turned down by the state, the employment opportunities require Steve to physically be present to work.. no Steve, no job.. no pay back. thanks judge for nothing.

  • October 31, 2006 at 11:12 am
    michelle says:
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    Michael MacDonald was in the court room, he was asked to admit that he had given Tom $70,000 for the investment properties that Sharon Hudson and Det. Padich seem to forget existed. Mr. MacDonald refused to testify, what loan shark would???
    Judge Rapp left it with NO RESTITUTION.. It was offered and denied.



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