A jury has found Richard Maike and his fellow Infinity2Global scammers guilty on all charges.
The September 7th verdict follows a mammoth criminal trial that began on July 12th.
As to Richard Maike, founder of Infinity2Global, the jury found him guilty on all counts of
- Conspiracy to Commit Mail Fraud;
- Conspiracy to Commit Securities Fraud;
- Money Laundering (nine counts); and
- Attempted Tax Evasion
Maike’s co-conspirators, Doyce G. Barnes and Faraday N. Hosseinipour, both promoters of Infinity2Global, were each found guilty on one count of Conspiracy to Commit Mail Fraud.
Sentencing of the three defendants has been scheduled for December 12th.
I couldn’t find a sentencing range but I imagine Maike is probably looking at spending a few decades in prison.
Not sure on Barnes and Hosseinipour, as they were convicted of one count each.
Criminal charges were filed against Maike and five Infinity2Global co-defendants back in 2017.
BehindMLM reviewed Infinity2Global in 2013, noting the “strong possibility” of a Ponzi scheme.
The original trial date was originally scheduled for January 2019. It was pushed back for various reasons until July 2023.
One of the I2G defendants, Richard Anzalone, pled guilty in May. On July 1st the court approved splitting Infinity2Global criminal proceedings into two trials.
The trial that just concluded was that of Maike, Barnes and Hosseinipour. The second trial for Dennis Dovrin and Jason Lyn has yet to be scheduled.