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Yahoo! My Yahoo! Mail Yahoo! Search Search: Sign InNew User? Sign Up News Home - Help Navigation Primary Navigation Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Secondary Navigation Asia Pacific World Search Search: Convicted RI art dealer denies new fraud charges By RAY HENRY,Associated Press Writer AP - Saturday, March 21 PROVIDENCE, R.I. - Whether it's impressionist paintings by Monet, protective headgear or medical tubing, federal investigators claim Rocco DeSimone can turn it into a scam worth millions of dollars. ADVERTISEMENT On the eve of his release from prison _ a stay interrupted by a brief escape and manhunt _ the 56-year-old art dealer faces a new indictment, this time accusing him of duping an inventor and others by claiming he had access to deep-pocketed business connections. He pleaded not guilty Friday to mail fraud and money laundering charges during a hearing in U.S. District Court. The U.S. Attorney's office wants DeSimone held in prison until trial even though his prison sentence on tax evasion charges expires Saturday. A judge ordered DeSimone jailed until a hearing on the issue next week. Prosecutors argue the latest indictment is another progression in a criminal career that already includes impersonating a federal agent, an insurance fraud case and allegations DeSimone peddled a machine he claimed could turn rocks into rubies. "He is an unrepentant, habitual con-man who moves from one fraudulent scheme to the next," Assistant U.S. Attorney Lee Vilker said recently in court documents. DeSimone intends to fight the charges, said his attorney, Richard Corley. "He is proclaiming that he is absolutely innocent of any wrongdoing, and he's presumed innocent by the court," Corley said. "No one should rush to judgment." In 2005, DeSimone was convicted of tax evasion for claiming he owned the painting "Canal at Zaandaam" by Monet for more than a year before selling it, a lie that saved him roughly $420,000 in taxes. But a jury acquitted DeSimone of charges that he cheated an elderly New York City art dealer of almost $2 million in the sale. He was sentenced to more than two years in prison. Even while free on bail to appeal his conviction, the art dealer continued running scams, according to prosecutors. The indictment returned earlier this month suggests DeSimone fooled a doctor with relative ease. Prosecutors said DeSimone conned an inventor, Dr. Robert McKittrick, into giving him a one-third ownership stake in a device called the Drink Stik, which allows people to drink without removing their protective headgear. DeSimone allegedly gained McKittrick's trust by claiming to have sold a painting on behalf of one of the doctor's friends. DeSimone promised he could market the Drink Stik and that Fidelity Investments CEO Edward Johnson III had offered to pay millions of dollars for it. In fact, DeSimone did not know Johnson, prosecutors said. When Raytheon Co. turned down the invention, DeSimone continued telling investors it was a "done deal," according to the indictment. DeSimone convinced investors to give him $1.2 million in cash and $4.9 million in forgiven debts and property, including artwork and Japanese artifacts. The FBI probe apparently prompted DeSimone's escape from prison, prosecutors said. Alerted when federal agents searched his home last year, DeSimone fled three days later from a minimum security prison in Fairton, N.J., with the help of his wife and a family friend. He surrendered to authorities in Providence after four days on the loose. Email Story IM Story Printable View Blog This Recommend this article Average (0 votes) Sign in to recommend this article » Most Recommended Stories » Related Articles: Entertainment & Lifestyle Metallica invades SXSW as `young band from Norway'AP - 1 hour 12 minutes ago Nirvana catalog to be re-released on vinylReuters - Saturday, March 21 Prince to play three L.A. shows in one dayReuters - Saturday, March 21 Kin, friends gather for Richardson private wakeAP - Saturday, March 21 Daughter pushes for Falk conservatorshipAP - Saturday, March 21 Most Popular – Entertainment Viewed Actress Natasha Richardson dies after ski accident Arrest warrant issued for Lindsay Lohan Global warming leaving its mark on polar bears US bailout auditor launches probe into AIG bonuses Injured actress Richardson flown to US: hospital View Complete List » Search: Home Singapore Asia Pacific World Business Entertainment Sports Technology Top Stories Most Popular Copyright © 2009 Yahoo! Southeast Asia Pte Ltd. (Co. Reg. No. 199700735D). All Rights Reserved. Privacy Policy - Terms of Service - Community - Intellectual Property Rights Policy - Help

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