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

May 17, 2005

  • May 26, 2005 at 12:17 pm
    Karen says:
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    Donna–Yes I do see that side, As I said before, Tommy stole thousands from my parents and me. I don’t know Steve and don’t care to. Still looking for a civil lawsuit!

  • May 27, 2005 at 9:40 am
    Karen says:
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    Donna–Thanks and good luck to you and your Dad.

  • May 27, 2005 at 6:47 am
    donna says:
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    To K: I am a paralegal in a different state. I don’t know florida law, however I intend a civil suit also. Just ride out this criminal action to see what happens, then file a civil suit. I think that’s the only way anyone will get their money back. My opinion…my dad may not see the money, nor I, nor my children, but maybe my grandkids. You can make a judgment last forever…Good luck.

  • May 28, 2005 at 9:28 am
    Tony says:
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    Karen has been very up front regarding who he did business with – Tom and Palm Beach Financial and got screwed.

    Donna, who exactly did your Dad do business with was it Steve and AMerican Income or Tom and Palm Beach Financial. You keep writing they and them.
    Exactly who and which company?
    If you don’t know ask you Dad?
    Look at the paper work.

    You seem rather hasty to lump the two together, they are separate entities.

  • May 29, 2005 at 8:10 am
    donna says:
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    To Tony: My dad invested in Palm Beach Financial with Tommy. Tommy and Steve were both arrested for their involvment in insurance fraud and scams. My dad’s situation hasn’t even come to light yet, but the authorities are working on it as I am too. Possibly Tommy is the only one who will be held accountable for my dad’s “situation” however, I find it very hard to believe that Steve was in business with Tommy and didn’t know what was going on. I would never be associated in a business wherein I had the slightest inclination that my business associate was not on the “up and up”. Tony, when I say THEY and THEM, I am referring to THOSE who were associated in business together, Tommy, Steve, etc. (I don’t know if their families knew what was going on). I don’t know either one personally, but I know someone in THEIR scam stole money from my father and I want it paid back. I don’t want to criticize THESE guys, I’d rather my dad get his money back then anyone go to prison (it’s not a very nice place to be). Then my father could disassociate himself from THEM and learn from the mistake. If Steven is involved in AMerican Income, does that mean, the people who invested with his company can rest easy that their money is in a safe investment? I certainly hope so, and if that is the case, I respectfully apologize for referring to THEM. And from now on I will address my opinions strictly to TOMMY THE THIEF!
    My father always taught me to be selective of my friends, because people judge you by the company you keep. I don’t criticize people for anything they do, however I have the right and choice to distance myself from anyone who I feel will hurt ME or my image.
    Have a good holiday weekend and I’m sure everything will come out in court or in the precedings.
    I just pray somehow my father will have his money returned. He is so hurt by what happened. He is the generation that did business on a handshake and he trusted TOMMY. He just can’t believe it. I, on the other hand, when I found out about the investments, I knew right away. I only wish I had known sooner, then THEY would have been stopped immediately.
    If you can shed some light on the difference between Steve and Tommy and how Steve should not be critcized, please let me know.

  • June 6, 2005 at 7:32 am
    Carol says:
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    To both of you, Steven is my older brother. It has taken me a while to absorb what has happened…and believe me I was shocked and furious at the idea that my brother was involved in something like this. But I will tell you, that my brother Steven comes from a very hardworking family, and we were raised with great morals and a strong sense of responsibility; my parents wouldn’t have it any other way. I can only hope that these poor people will get back any money they invested, and that my brother realizes he should be wary of involving himself in any business that appears not to be thoroughly legitimate; yes,he should have been a much better business man, but he is a good person who I know would not have hurt these people intentionally. These are people who are the same age as our parents; and I know he would be outraged if this happened to them. Of course, we will support Steven and hope that restitution will be made to these investors.

  • June 7, 2005 at 11:31 am
    Tandaleesi says:
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    Don’t be so quick to say that your brother is not a good businessman. Many of us have invested with him through the years with many happy returns. He is upfront, honest and a great listener. His flaw may have been not investigating someone he did business with, but perhaps he is too trusting. He has not had any problems until Tom Masciarelli leached onto him, and scammed him as well. He is as much a victim of Masciarelli as anyone.

  • June 7, 2005 at 5:06 am
    Carol says:
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    Well, I’m happy to hear you think so highly of him. Thank you for your positive comments. Our family appreciates your kindness and candor.

  • June 8, 2005 at 6:54 am
    Tandaleesi says:
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    It is the right thing for you to stand by your brother. That’s what family is all about. It’s going to be a long road ahead for every family that is involved in this mess. All I want for my father is for him to get his money back. I do hope restitution is made.

  • August 5, 2005 at 2:55 am
    Det. Ted Padich says:
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    I am the Detective that investigated this case. I would be happy to discuss matters related to this case that are of public record. If anyone feels that they have been victimized by Thomas Masciarelli and /or Steve Patrarca or if you have any additional information you feel is important regarding any aspect of this case please feel free to contact me via e-mail or 561-242-5457.



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