Related Federal Cases
- James Dunham, Mail and Wire Fraud, Boston MA, 2023 · New Mexico
- Deirdre M. Daly, Election Fraud, Connecticut 2016 · Washington
- Stephen S. Eubanks, Wire Fraud, Massachusetts 2024 · Florida
- Bruce Lewis, Mortgage Fraud Conspiracy, New York 2024 · Pennsylvania
- Jason J Parmeley, Wire Fraud, IL 2024 · Washington
Defendant Name, Crime, State Year
Brian Ferraioli, a 41-year-old man from Sayville, N.Y., pleaded guilty to conspiracy to commit mail and wire fraud in a Connecticut federal court.
According to court documents and statements made in court, Ferraioli and Thomas Heaphy, Jr., solicited prospective investors to purchase shares of Waters Club Worldwide, Inc. and Waters Club Holdings, Inc. (collectively, “Waters Club”), which provided yacht charter services to customers.
From approximately August 2016 to February 2017, Ferraioli and Heaphy recruited at least 12 investors to pay a total of at least $1,289,500 for shares of Waters Club stock. One of the victims of the Waters Club scheme was a Connecticut resident who paid $475,000 to Waters Club.
Ferraioli pleaded guilty to one count of conspiracy to commit mail and wire fraud, an offense that carries a maximum term of imprisonment of 20 years.
Ferraioli and Heaphy began to sell Waters Club securities after they learned that they were under federal investigation for an unrelated stock “pump and dump” scheme in the summer of 2016.
Heaphy, 43, of East Moriches, N.Y., previously pleaded guilty to charges stemming from both the stock pump and dump scheme and the Water’s Club investment fraud scheme.
Ferraioli and Heaphy are released on bond pending sentencing. Sentencing dates have not been scheduled.
Key Facts
- State: Connecticut
- Category: Fraud & Financial Crimes
- Source: DOJ Press Release â†â€â€
ðŸâ€Â’ Get the grimiest stories delivered weekly. Subscribe free →
