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In 2021, Schipelliti launched a new fund, the TTM Fund, raising another $350,000 from investors. He lost all the money in this fund as well, with some of it being used inconsistently with the fund’s operating agreement. The FBI investigated the case, and Schipelliti was charged in March 2026.
Schipelliti’s guilty plea could result in a sentence of up to 20 years in prison, three years of supervised release, and a fine of $250,000. The case is being prosecuted by Assistant U.S. Attorney Benjamin A. Saltzman of the Securities, Financial & Cyber Fraud Unit.
The outcome of this case serves as a reminder of the importance of transparency and honesty in investment dealings. Investors should always be cautious and do their due diligence before putting their money into any fund or investment opportunity.
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📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Massachusetts
- Location: MA
- Source: DOJ Press Release
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