Richard J. Anzalone blinked first. Two months before his trial was set to begin, the Infinity2Global defendant pleaded guilty to one count of fraud, becoming the first of seven criminal defendants to cave.

Anzalone had been waiting a long time for this moment. Federal prosecutors indicted him in 2017. Years of delays followed. His trial was scheduled for July 12th, 2022. Then on May 17th, he filed a plea agreement and admitted what prosecutors had been saying all along: he committed securities fraud, he deliberately closed his eyes to what was obvious, and he knew Infinity2Global was a pyramid scheme.

The scheme itself was simple con work wrapped in a casino theme. Richard Maike launched it in 2013 and sold shares he called "Earning Ranks"—some labeled "Emperor" positions. Anzalone didn't run it, but he profited enormously from pushing it. Working through companies he formed with co-defendant Faraday Hosseinipour, Anzalone pocketed roughly $941,913 in commissions and bonuses for selling those shares to investors.

Federal prosecutors locked him in place with that number. In their deal, they agreed to drop all other counts against him and recommend he get sentenced at the lowest end of the sentencing guidelines, then knock three more levels off that. It was a favorable deal for a man who otherwise faced five years in prison, a $250,000 fine, and three years of supervised release.

Anzalone signed the plea agreement on April 29th. The court accepted it on May 18th. Sentencing was scheduled for August 9th.

But five other defendants weren't ready to quit. Richard Maike, the mastermind who built Infinity2Global, was still fighting. So were promoters Doyce Barnes, Faraday Hosseinipour, Dennis Dvorin and Jason L. Syn. All five remained scheduled to face trial in July.

The case against Anzalone never made it to that courtroom. On December 8th, 2022, he died in Hawaii. The charges were dropped.

🤖 Quick Answer

What was Richard J. Anzalone's role in the Infinity2Global fraud scheme?
Richard J. Anzalone was a defendant in the Infinity2Global case who pleaded guilty to securities fraud. He admitted to knowingly participating in what prosecutors characterized as a pyramid scheme disguised as a casino-themed investment operation, which involved the sale of fraudulent "Earning Ranks" shares to investors.

When did Anzalone enter his guilty plea?
Richard J. Anzalone filed a plea agreement on May 17th, 2022, approximately two months before his trial was scheduled to commence on July 12th, 2022, making him the first of seven criminal defendants to accept guilt in the case.

How did the Infinity2Global scheme operate?
The Infinity2Global scheme, launched by Richard Maike in 2013, functioned as a pyramid scheme wrapped in a casino theme.

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