Rocco DeSimone, Mail Fraud and Money Laundering, Rhode Island 2011

Rhode Island con man Rocco DeSimone, 60, has had his taste of luxury taken away from him, as a Renoir painting and a custom-built sports car were sold at auction for a combined $740,000.

The items were seized from DeSimone after he was convicted by a federal court jury in Providence in March 2011 of bilking an inventor and numerous investors out of more than six million dollars in cash, property, and forgiven debt.

The Renoir canvas artwork entitled Paysage a Cagnes sold for $551,000, while a custom-built 2006 Ford GT sports car sold for $189,000. The proceeds of the auction will be applied toward court-ordered restitution by DeSimone to the victims of his scams.

“It is rare that the victims of remorseless, recidivist con-men like the defendant ever receive restitution of any kind,” said United States Attorney Peter F. Neronha. “I am grateful to Marshal Hainsworth and the Marshal Service for their outstanding efforts to this end. Perhaps during his long years ahead in federal prison, the defendant can reflect on the fact that someone else is driving the fancy car and admiring the expensive painting he once enjoyed while looting the bank accounts of others.”

DeSimone was convicted of seven counts of mail fraud and one count of money laundering, and is currently serving a sentence of 192 months in federal prison. At sentencing, DeSimone was ordered to pay restitution to his victims in the amount of $6,030,145.

The case was prosecuted by Assistant U.S. Attorneys Lee H. Vilker and John P. McAdams. The matter was investigated by the FBI and IRS Criminal Investigation.

U.S. Marshal Jamie A. Hainsworth added, “The Marshal Service is entrusted with taking custody of and disposing of property seized by federal law enforcement and ordered forfeited by the court. With each item seized we look for creative ways to obtain the most beneficial return of proceeds. It is particularly gratifying in this instance that the proceeds of the auctions will be returned directly to some of the victims of Mr. DeSimone’s scams and crimes.”

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