⏱ 2 min read
In 2021, Schipelliti launched a new fund, the TTM Fund, and raised an additional $350,000 from investors. However, he lost all of that money as well, using some of it for personal expenses. Schipelliti’s scheme was uncovered, and he was charged with wire fraud in March 2026. He pleaded guilty in April 2026 and was sentenced to one year and one day in prison, followed by two years of supervised release and six months of home confinement.
The sentence also included an order to pay $350,000 in restitution to the victims of the scheme. The case was prosecuted by Assistant U.S. Attorney Benjamin A. Saltzman of the Securities, Financial & Cyber Fraud Unit, and the investigation was conducted by the Federal Bureau of Investigation, Boston Division.
The case highlights the importance of due diligence and caution when investing in cryptocurrency and other high-risk investments. It also serves as a warning to those who would seek to take advantage of unsuspecting investors through fraudulent schemes.
📋 Key Facts
- Crime: Fraud & Financial Crimes
- Defendant: Massachusetts
- Location: MA
- Source: DOJ Press Release
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