Thomas Aaron Signorelli, Multi-Million-Dollar Investment Fraud, California 2024

Thomas Aaron Signorelli, a 46-year-old resident of West Palm Beach, Florida, has pleaded guilty to one count of bank fraud, two counts of wire fraud, one count of conspiracy to commit wire fraud, one count of theft of government property, one count of destruction of records, and one count of conspiracy to launder money.

The scheme, which spanned from January 2021 to December 2023, involved Signorelli falsely claiming he could assist individuals and entities in need of capital by raising funds, obtaining loans, and securing profitable investments through his company WS Capital, which was registered with the Securities and Exchange Commission.

Instead of raising capital, obtaining loans, or securing profitable investments, Signorelli used the victims’ funds to pay his personal and living expenses, as well as to pay back other victims.

Signorelli engaged in one of the fraud schemes with his co-conspirator David Scott Cacchione. As part of that scheme, Signorelli and Cacchione convinced investors that their money would be used to purchase accounts receivables that did not exist.

Through his various schemes, Signorelli defrauded individuals and entities of more than $2,500,000.

Signorelli further admitted that he conspired with an attorney in Florida to launder fraud proceeds through the attorney’s client trust account in order to disguise the source and nature of the fraud proceeds.

Signorelli remains free on a $200,000 appearance bond imposed on September 20, 2024. His sentencing hearing is scheduled for March 24, 2025, before the Honorable James Donato, U.S. District Court Judge.

The maximum statutory penalty for each count is as follows:

Bank Fraud: 30 years’ imprisonment; $1,000,000 fine; 5 years’ supervised release; $100 special assessment; forfeiture and restitution
Wire Fraud: 20 years’ imprisonment; $250,000 or twice the gross gain or loss, whichever is greater; 3 years’ supervised release; $100 special assessment; forfeiture and restitution
Conspiracy to Commit Wire Fraud: 20 years’ imprisonment; $250,000 or twice the gross gain or loss, whichever is greater; 3 years’ supervised release; $100 special assessment; forfeiture and restitution
Theft of Government Property: Up to 10 years imprisonment; $250,000 fine; 3 years’ supervised release; $100 special assessment
Destruction of Records: Up to 20 years imprisonment; $250,000 fine; 3 years’ supervised release; $100 special assessment
Conspiracy to Launder Money: Up to 20 years imprisonment; $500,000 fine; 3 years’ supervised release; $100 special assessment

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