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Buffalo Catholic Diocese on Ponzi Case

Richard Piccoli with attorney Joel Daniels during a recent Federal Court appearance
WBFO News\">
Richard Piccoli with attorney Joel Daniels during a recent Federal Court appearance

By Eileen Buckley

http://stream.publicbroadcasting.net/production/mp3/wbfo/local-wbfo-816841.mp3

Buffalo, NY – The 82 year old Williamsville man accused of conducting a Ponzi scheme in Western New York was back in federal court Thursday. According to the Buffalo News, the attorney for Richard Piccoli told U.S. District Judge Wiliams Skretny that his client is no longer in business.

Attorney Joel Daniels assured the judge that with Piccoli's arrest earlier this month, his client is not selling anything. The judge is extending a temporary restraining order. It is against Piccoli and his company, Gen-See Capital.

Charges against Piccoli accused him of conducting a Ponzi scheme that targeted the Catholic community. WBFO'S Eileen Buckley talked with the Catholic Diocese of Buffalo about the case.

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.