Source: United States Department of Justice News
One Defendant Also Convicted of Money Laundering and Federal Income Tax Violations
Owensboro, KY – A federal jury convicted an Owensboro man, a North Carolina man, and a Florida woman this week for conspiracies to commit mail fraud and securities fraud. The Owensboro man was also convicted of money laundering and attempted tax evasion for tax years 2013 and 2014.
U.S. Attorney Michael A. Bennett of the Western District of Kentucky, Special Agent in Charge Jodi Cohen of the FBI Louisville Field Office, and Special Agent in Charge Bryant Jackson of the IRS Criminal Investigation, Cincinnati Field Office, made the announcement.
According to court documents and evidence presented at trial, Richard G. Maike, 55, of Owensboro, Kentucky, Doyce G. Barnes, 73, of Goldsboro, North Carolina, and Faraday Hosseinipour, 54, of Jacksonville, Florida, were convicted of conspiracy to commit mail fraud in connection with the sale of positions in Infinity 2 Global, or I2G, purportedly a multi-level marketing company which the United States proved at trial was operating as a pyramid scheme. Maike, Barnes, and Hosseinipour were also convicted of conspiracy to commit securities fraud in connection with the sale of $5,000 Emperor positions in the company as a form of passive income. Maike was also convicted of money laundering and tax evasion in connection with his use of approximately $3.2 million in I2G funds, some of which were wired to and from an Infinity 2 Global bank account in Hong Kong and used by Maike to purchase 1800 acres of ranch land in Kansas for his personal use. The evidence at trial showed that in approximately 15 months, I2G sold nearly 5,000 of the $5,000 Emperor positions generating, along with other lower-priced positions, over $30 million in revenue, much of which went out in the form of commissions to the promoters at the top of the pyramid structure. Commissions were generated based on recruitment of new members into the company. Over 90% of the people who bought a membership in I2G lost money.
The trial started in Owensboro, Kentucky on July 12, 2022, and concluded with the jury’s verdict on September 7, 2022, after four hours of deliberation. Maike was remanded to the custody of the United States Marshals Service pending sentencing. Maike, Barnes, and Hosseinipour are scheduled for sentencing in Owensboro before a United States District Judge of the Western District of Kentucky on December 12, 2022. Maike faces a maximum penalty of 125 years in prison. Barnes and Hosseiniour each face a maximum penalty of 25 years in prison. There is no parole in the federal system. The United States District Judge will determine the defendants sentences after considering the U.S. Sentencing Guidelines and other statutory factors.
One co-defendant, Richard Anzalone, previously entered a plea of guilty to the conspiracy to commit securities fraud and testified at trial. He will be sentenced at a later date. Two other co-defendants, Dennis Dvorin and Jason Syn, were severed for trial to be held at a later date. No trial date has been set for Dvorin and Syn.
The Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation investigated the case.
Assistant U.S. Attorneys Madison Sewell and Marisa Ford prosecuted the case with the assistance of paralegal Cristy Crocket.
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