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Richard J. Anzalone has pleaded guilty to one count of the Infinity2Global Ponzi scheme, just two months before his planned trial.

Anzalone is the first of seven accused criminals to enter a guilty plea.

Anzalone was set to stand trial on July 12th, 2022, following an indictment in 2017 and several years of delays.

Anzalone entered a plea deal 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 scam, in 2013.

As a result of Anzalone’s guilty plea, he has agreed to cooperate with the investigation.

He was found guilty of securities fraud, “deliberately closing his eyes to what was clear,” and knowing Infinity2Global was a pyramid scam.

During the conspiracy, defendant Anzalone collected about $941,913 in commissions and incentives for the sale of different I2G Earning Ranks, including Emperor positions, through a firm or corporations founded with co-defendant Faraday Hosseinipour.

Anzalone faces a potential five-year jail sentence, a $250,000 fine, and three years of supervised release.

The DOJ has committed to several things in exchange for pleading guilty.

Drop all additional charges against Anzalone; propose he get “a sentence at the lowest end of the appropriate guideline range,” which is three levels lower than what he may get otherwise; and cap Anzalone’s ill-gotten gains at $941,913.

On April 29th, 2022, Anzalone signed his plea deal.

On May 17th, a revised plea agreement was entered under secrecy. I can’t view the document, so I’m not sure what more it could contain about Anzalone’s criminal case.

On May 18th, the court approved Anzalone’s plea deal. 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.

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