San Diego pair must pay up to $20 million in fraud scheme aimed at seniors.
Publication: The San Diego Union-Tribune (San Diego, California) (via Knight-Ridder/Tribune Business News)
Publication Date: 23-JUL-04
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Jul. 23--A father-and-son sales team yesterday was ordered to pay up to $20 million in restitution and penalties for peddling "death benefit" investments in a San Diego fraud scheme targeting senior citizens.
Robert N. Shearburn and his son Robert L. Shearburn were fined for their role in a fraud scheme pioneered by San Diego resident Carmen L. Palmieri.
At the conclusion of a separate criminal case in January, Palmieri was sentenced to 30 years in prison after pleading guilty to defrauding 191 investors.
Susie...
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