Beware of Joseph Cammarata & Investview – Review

In relation to a plan involving securities fraud, Joseph Cammarata was found guilty.

Cammarata (right), a former CEO of Investview (which operated iGenius), had a side business called Alpha Plus Recovery, which was a recovery fraud.

Acting U.S. Attorney Williams stated that the defendants were accused of manipulating intricate financial transactions over years in order to steal almost $40 million.

“Cammarata, Cohen, and Punturieri engaged in double-dealing fraud by filing claims on behalf of fictitious clients and fabricating bogus financial records to substantiate those false claims.

Now that their supposed conspiracy has been discovered, they must account for their behavior.

The trial for Cammarata began on October 20. On October 26th, the jury returned a verdict of guilty on charges 1 through 6 as well as 11 and 12 of Cammarata’s supplemental indictment.

The charges against Cammarata include conspiracy to commit mail and wire fraud, wire fraud, money laundering, and conspiracy to launder money.

Cammarata may spend up to 20 years in jail for each count, for a total of 160 years.

The sentence for Cammarata is set for February 21st, 2023.

In related news, the hold on concurrent SEC proceedings has been lifted as a result of Cammarata’s conviction.

Judge Kenney turned down Cammarata’s request to extend the validity of a temporary restraining order that had previously been granted on the same day the SEC’s case against him was made public.

Cammarata’s assets were frozen by the issued TRO, prohibiting him from continuing to use illegally obtained money.

The SEC action involving Cammarata was also submitted to mediation on October 27. We will update you.

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *