If federal indictments are to be believed, Michael Riolo is a first-class sleazebag. The Boca Raton man whose business was based in Coral Springs is accused of cheating more than 80 investors out of $44 million over the past ten years. But prospective investors didn't have to wait till today's filing to learn that Riolo might be the type who abuses trust. The Broward County Clerk's website has contained that clue for the past seven years.
After all, Broward's where Riolo was living for much of the time he was allegedly committing his investment scheme. A simple name search brings up this single felony case -- possession of date rape drugs. The Broward State Attorney's Office was not confident enough in its case to prosecute Riolo. But still, it begs the question of whether you'd trust your hard-earned savings to a 30-something guy who might have bought date rape drugs.
That was way back in 2002, but by sheer coincidence, the guy who was arrested in the same case as Riolo, Daniel Pelchat of St. Etienne, Quebec, is soon to get his own share of justice. Pelchat entered a guilty plea in a Buffalo, New York, court last December to a criminal conspiracy charge. On his website, he took orders not for the date rape drug GHB but rather for a kit that allegedly contained all the legal chemical components, along with a handy recipe for how to combine them into the illegal drug. Pelchat's sentencing, originally scheduled for tomorrow, has been pushed back. He faxes a maximum prison term of ten years.
After the jump, a short video from a Canadian newscast about Pelchat's chemistry sets.
