Richard J. Anzalone has pleaded guilty to one count of the Infinity2Global Ponzi scheme, just two months before his planned trial.
Anzalone was the first of a group of seven criminal defendants to plead guilty.
Anzalone was set to stand trial on July 12th, 2022, following an indictment in 2017 and several years of delays.
Anzalone entered into a plea agreement on May 17th, admitting to one count of fraud. Multiple counts of conspiracy to commit mail fraud and money laundering are listed in Anzalone’s Infinity2Global indictment.
Richard Maike established Infinity2Global, a casino-themed Ponzi scheme, in 2013.
Anzalone’s guilty plea acknowledges that he committed the crime.
“He purposefully closed his eyes to what was clear,” he said of the stock market fraud.
He was well aware that Infinity2Global was a ponzi scheme.
During the conspiracy, defendant Anzalone collected about $941,913 in commissions and bonuses for the sale of various I2G Earning Ranks, including Emperor positions, through a firm or corporations founded with co-defendant Faraday Hosseinipour.
Anzalone may face a five-year jail sentence, a $250,000 fine, and three years of supervised release if convicted.
In exchange for pleading guilty, the Department of Justice has agreed to: All other factors are working against Anzalone.
I propose he gets “a sentence at the lowest end of the appropriate guideline range,” which is three levels lower than what Anzalone might get otherwise, and lock him up.
Anzalone’s ill-gotten gains total $941,913… On April 29th, 2022, Anzalone signed his plea deal.
On May 17th, a revised plea agreement was entered under secrecy. I’m unable to view the document, so I’m not sure what else it might contain on Anzalone’s criminal case.
On May 18th, the court approved Anzalone’s plea agreement. The date for sentencing has been set for August 9th.
The remaining five defendants in the Infinity 2 Global case, including owner Richard Maike and promoters Doyce Barnes, Faraday Hosseinipour, Dennis Dvorin, and Jason L. Syn, will go on trial in July.