Richard G. Maike, Pyramid Scheme, Kentucky 2022

Table of Contents

Three Defendants Found Guilty in Pyramid Scheme Case

A federal jury in Owensboro, Kentucky, has convicted three individuals for their involvement in a pyramid scheme. Richard G. Maike, 55, of Owensboro, Kentucky; Doyce G. Barnes, 73, of Goldsboro, North Carolina; and Faraday Hosseinipour, 54, of Jacksonville, Florida, were found guilty of conspiracy to commit mail fraud and securities fraud.

The scheme, which allegedly took place through the sale of positions in Infinity 2 Global (I2G), a multi-level marketing company, generated over $30 million in revenue. However, it is estimated that over 90% of those who invested in I2G lost money.

Richard G. Maike, in addition to conspiracy charges, was also found guilty of money laundering and attempted tax evasion for tax years 2013 and 2014. The evidence presented at trial showed that Maike used approximately $3.2 million in I2G funds to purchase 1800 acres of ranch land in Kansas.

The trial began on July 12, 2022, and concluded on September 7, 2022, after four hours of deliberation. Richard G. Maike was remanded to the custody of the United States Marshals Service pending sentencing.

The defendants are scheduled to be sentenced on December 12, 2022, before a United States District Judge of the Western District of Kentucky. Richard G. Maike faces a maximum penalty of 125 years in prison, while Doyce G. Barnes and Faraday Hosseinipour each face a maximum penalty of 25 years in prison.

The Federal Bureau of Investigation and the Internal Revenue Service Criminal Investigation investigated the case, with Assistant U.S. Attorneys Madison Sewell and Marisa Ford prosecuting the case with the assistance of paralegal Cristy Crocket.