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Piccoli Makes Court Appearance

Richard Piccoli in the lobby of Federal Court Tuesday morning
WBFO News
Richard Piccoli in the lobby of Federal Court Tuesday morning

By Eileen Buckley

http://stream.publicbroadcasting.net/production/mp3/wbfo/local-wbfo-814824.mp3

Buffalo, NY – An 82 year old Williamsville man accused of conducting a Ponzi scheme that targeted the Catholic community was in Federal Court in Buffalo Tuesday morning.

Richard Piccoli was arrested and charged on mail fraud last week. It is believed Piccoli has taken in about $17 million since 2004. The U-S Attorney's office says he advertised almost exclusively in the Western New York Catholic newspaper and in other catholic newspapers throughout the U-S. Piccoli appeared in court his morning with two prominent local attorneys. Joel Daniels is representing Piccoli on the fraud charges. Piccoli is due to return to federal court Tuesday afternoon for arraignment.

Piccoli is also facing civil charges filed by the S-E-C against his company Gen-See Capital. An SEC attorney told Judge William Skretny this morning their concerned some of his assets could be hidden and only Piccoli knows where they are located. The SEC says it needs to obtain a list of Piccoli's assets and his investors. Attorney Richard Sullivan is defending his civil case. Under a court order, Piccoli's assets have been frozen.

Click the audio player above to hear Eileen Buckley's story now or use your podcasting software to download it to your computer or iPod.