Winthrop man charged in $4m fraud

A Winthrop man was charged with defrauding 20 investors of $4 million in a life insurance scheme, according to an 18-count indictment filed in federal court yesterday.

The US attorney in Massachusetts alleged that Joseph Gennaco, 67, stole the money over six years, during which he promised people he was investing in life insurance policies on their behalf.

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