A man who used fake ties to Fidelity
chief Ned Johnson
was just convicted in federal court. The Providence Journal
's Michael McKinney reports
that yesterday, after a 17-hour, three-day jury deliberation, a U.S. District Court found Rocco DeSimone
guilty "of money laundering and seven counts of mail fraud" and not guilty of two other mail fraud counts.
DeSimone allegedly duped investors out of more than $6 million in 2006 and 2007 by claiming that, thanks to a made-up connection with Johnson, he knew Fidelity was going to buy a new invention for millions. Yet, the prosecution maintained that DeSimone did not know Johnson nor did he have any insight into such Fidelity plans.
Neil Anderson, Managing Editor
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