As expected, a 28-year-old Haverhill man pleaded guilty this week in federal court in Boston to fraudulently obtaining $350,000 from investors in two cryptocurrency funds.
As reported earlier, Luciano Schipelliti had been expected to plead guilty to wire fraud. U.S. Senior District Court Judge F. Dennis Saylor IV scheduled sentencing for June 24. Schipelliti was charged last month.
According to U.S. Attorney Leah B. Foley’s office, Schipelliti established the Superstars Fund during the fall of 2018 and raised roughly $275,000 to invest in cryptocurrency. The office added he allegedly lost all the fund’s money, but did not tell investors. Instead, Schipelliti sent monthly newsletters to investors falsely reporting the Superstars Fund grew in value. Prosecutors said he launched a new fund, raising approximately $350,000 and allegedly lost most of that money.