PEERMONT, N.Y. — A Peermont resident is accused of lying to investors about being a licensed broker with cryptocurrency expertise in order to steal money and fund a life of luxury. It has been.
Jeffrey Tognetti, 26, faces federal charges of wire fraud and faces up to 20 years in prison.
“As allegations, Jeffrey Tognetti Jr. carried out a typical investment fraud scheme, lying to his victims about his eligibility to lure them into investing, only to divert the money,” said Damian Williams. Federal prosecutors said in announcing the charges.
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The scheme began in July 2022 and generated at least $1.5 million in revenue, prosecutors said. He claims to have told him he was a broker and intended to invest the money he received from him. Victim of the stock market and cryptocurrencies.
According to prosecutors, the suspect worked for a hedge fund known as Parallax Capital Advisors LLC and made false oral and written statements, including the lie that he developed technology to make money trading cryptocurrencies. It is said that he was doing it on a daily basis.
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“Defendants allegedly defrauded victims through continued misrepresentation and deception in order to obtain a luxurious living,” said HSI Special Agent Ivan J. Alvero.
Anyone who believes they may be victims of Tognetti’s plan should contact the Homeland Security Investigations New York field office. in this form.
“Our career prosecutors are experts in prosecuting this type of financial fraud, and thanks to our law enforcement partners, Tognetti is now facing the consequences of a criminal allegation,” Williams said. Ta.
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