Rocco DeSimone goes back to jail!Johnston art dealer guilty of money laundering, mail fraud
PROVIDENCE, R.I. — A federal jury found Johnston art dealer Rocco P. DeSimone guilty Wednesday of one count of money laundering and seven counts of mail fraud.
The panel found him not guilty on two of the mail fraud counts.
The prosecution said that DeSimone, 57, fleeced various individuals out of their money by getting them to invest in inventions that he claimed were being sold to major companies with the promise of big paydays. According to trial testimony in U.S. District Court in Providence, his victims ranged widely, from a wealthy businessman to a Warwick janitor.
The defense countered it was DeSimone who was the victim of the greed of his accountant and a business partner, and that DeSimone believed that one of the deals was going to happen based on what he was told.
The jury deliberated Monday afternoon, Tuesday and much of Wednesday before rendering its verdict shortly after 2 p.m.