Two Men Plead Guilty in Multimillion-Dollar Online Scam Scheme

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Two Florida men, Richard Fasanella and John J. Intoci, have pleaded guilty to federal charges related to their roles in a years-long scheme that laundered nearly $9 million stolen from elderly victims of online scams. The men set up fake bank accounts and shell companies to funnel the illicit funds, taking a cut for themselves before converting the money to cryptocurrency.

Why it matters

This case highlights the growing problem of online fraud targeting vulnerable populations, as well as the sophisticated methods criminals use to launder stolen funds. It also underscores the challenges law enforcement faces in tracking and stopping these complex financial crimes.

The details

Prosecutors say Fasanella was the architect of the scheme, which operated from 2018 to 2024. He set up accounts in his own name and through sham businesses, recruiting others like Intoci to do the same. Victims mailed checks, cash, and money orders to these accounts, which the men then converted to cryptocurrency after taking a cut. Even after banks flagged the accounts and law enforcement seized funds, Fasanella found new ways to keep the operation running.

• Between 2018 and 2024, the scheme stole nearly $9 million from victims.
• Fasanella pleaded guilty on March 3, 2026 to conspiracy to commit money laundering and illegal monetary transactions.
• Intoci pleaded guilty on March 9, 2026 to conspiracy to operate an unlicensed money transmitting business.
• Fasanella is scheduled to be sentenced on May 26, 2026.
• Intoci is scheduled to be sentenced on May 29, 2026.

What’s next

The judge will determine the sentences for Fasanella and Intoci at their upcoming hearings in late May 2026.