The Daily Gazette
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Federal trial of brokers heads to jury

Partners accused of investment scheme

Former Albany brokers Timothy McGinn, right, and David Smith exit the federal courthouse in Albany in this Gazette file photo from October 2012.
Former Albany brokers Timothy McGinn, right, and David Smith exit the federal courthouse in Albany in this Gazette file photo from October 2012.
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Timothy McGinn and David Smith had investors from all walks of life. Some were seasoned investors, such as a commodity trader. Others were novices — middle-class people who bought into trust funds they thought were going to a specific purpose. They included Ron DeLeonardis, a high school friend of Smith’s who operated a fish fry restaurant, and Robert Wargo, a Catholic priest from Pennsylvania. There was Bill Ferraro, a retired school administrator and Robert Pugliese, ...


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comments

mopeen
February 1, 2013
3:18 p.m.

[ Flag Post ]

Justin has the facts a little mixed up. Ron Simons was the outside accountant who pleaded guilty so that he wouldn't lose his CPA license. Mathew Rogers pleaded guilty to avoid a hefty tax bill and so that he would not get deported.

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