John Massanotti Jr., 69, of Bonita Springs, Florida, was arrested in Florida on Thursday and is scheduled to appear in Hartford next Wednesday.
FORT MYERS, Fla. — A Florida man was indicted Thursday, two days after a federal grand jury in New Haven returned a 21-count indictment on charges related to an investment fraud scheme that cost customers more than $4 million. , was arrested Thursday. Release from the United States Attorney for the District of Connecticut.
John Massanotti Jr., 69, of Bonita Springs, Fla., appeared Thursday in federal court in Fort Myers, Fla., and was released on $100,000 bail, prosecutors said. He said he will be arraigned in court. May 15th.
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According to the indictment, Massanotti, a former Darien resident, owned and operated Darien-based Middlesex Mortgage Group LLC (also known as Middlesex Group LLC). Prosecutors said Massanotti “purported” to act as an investment advisor through the Middlesex Group and manage pooled investment vehicles on behalf of investors.
Prosecutors said Massanotti told clients and potential clients that the investment funds would be pooled and invested in foreign currency and other investments, which was what happened.
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But prosecutors allege Massanotti defrauded at least 10 customers of more than $4 million from approximately 2016 to 2023, which he used to pay for personal expenses and repayments to other customers. There is. The suspect allegedly provided customers with fraudulent monthly account statements from Middlesex that showed false investment returns.
The indictment also alleges that Massanotti made false statements to the Federal Bureau of Investigation during the investigation and submitted false records in an attempt to obstruct the investigation, prosecutors said.
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The indictment charges Massanotti with eight counts of wire fraud, each of which carries a maximum penalty of 20 years in prison, prosecutors said. He has also been charged with 11 counts of engaging in illegal financial transactions, each of which carries a maximum penalty of 10 years in prison.
According to prosecutors, the indictment also charges him with one count of making false statements (up to five years in prison) and one count of falsifying records in a federal investigation (up to 20 years in prison).
Dalton Zbierski is a digital content producer and writer for FOX61 News. You can contact him at: dzbierski@FOX61.com.
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