Investors claim to have lost millions to William Parente

By Calvin Palmer

Details emerged today of alleged serious financial problems facing a New York tax attorney police say killed his wife, two daughters and then himself in a Maryland hotel room.

Attorney Steven B. Drelich said that at least three people have called his office to say they lost about $4 million to William Parente, who was found dead on Monday in a hotel room at the Sheraton Baltimore North Hotel, in Towson, along with his family.

“We’ve been contacted by others who have lost millions of dollars,” Drelich said. “What he did to his family is unforgivable. The face of evil can be pretty ordinary.”

Drelich’s partner, Bruce Montague, told authorities on Tuesday that he lost at least $450,000 to Parente.

The FBI is investigating the losses.

Police said Parente did not leave any notes that might show he was driven by investment business troubles, and detectives say they do not have a motive for the killings.

“We have not reached that determination and we may never reach that determination,” Baltimore County police spokesman Cpl Mike Hill said.

Parente, 59, of Garden City, New York, killed his wife, Betty Parente, 58, and their daughters, 19-year-old Stephanie and 11-year-old Catherine, then himself.

Their bodies were discovered in a room on the 10th floor of the hotel. The couple and their younger daughter were in Maryland to visit Stephanie, a sophomore at Loyola College in Baltimore.

One of Stephanie’s friends told The Baltimore Sun that Stephanie was surprised by her family’s visit because they were already scheduled to come see her this Friday.

“None of it made sense,” said 19-year-old Gabrielle Paige. “They just called her and said they were here in Baltimore. It seemed like they decided on a whim to come out here.”

[Based on a report by the Associated Press.]

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