Patrick Allienello, age 48, of 212 Bellevue Court, Narragansett, pled nolo contendere today before Superior Court Justice Robert D. Krause to nine counts of embezzlement for stealing more than $900,000 from clients in real estate transactions.
Allienello was sentenced to 16 years with three years to serve, followed by three years on home confinement and the remaining 10 years suspended with probation. In addition, Allienello was ordered to pay restitution in the amount of $902,787.18. Allienello was remanded to the ACI immediately after sentencing.
Had the case proceeded to trial, the State was prepared to prove that between December 2007 and December 2009, Allienello, formerly a private real estate attorney, accepted real estate closing funds via wire transfer and failed to pay outstanding mortgages on the properties.
Mr. Allienello was suspended from the practice of law by the Rhode Island Supreme Court in January 2010.
“This defendant used his position as an attorney and member of his community to steal from individuals who relied on him to handle their real estate closings only to learn later that he stole their money leaving some financially ruined in the aftermath of foreclosures and bankruptcy,” said Attorney General Kilmartin.
Colonel Steven G. O'Donnell, Superintendent of the Rhode Island State Police and Commissioner of the Department of Public Safety, said “I commend the detectives from the Rhode Island State Police and the prosecutors from the Office of Attorney General on their detailed investigative work bringing closure for the victims and justice to the defendant.”
Detective Michael Brock and investigator Lori Tellier of the Rhode Island State Police Financial Crimes Unit led the investigation. Special Assistant Attorney General Emily Maranjian prosecuted the case on behalf of the Office of Attorney General.
Unbiased, Unfiltered. WBOB's Original Reads feature our brightest and boldest personalities, offering their two-cents on the goings on of news, sports, politics, entertainment, and business. -- Are our opinions always PC? Nope. Are they always perfect? Nah. But, are they always 100% authentic? Absolutely!