CONCORD – Falmouth, Massachusetts resident Leo Anzivino, Jr., 35, pleaded guilty today to a money laundering conspiracy in connection with a more than $6 million health care fraud scheme, U.S. Attorney Erin Creegan and Assistant Attorney General Colin M. McDonald of the Justice Department’s National Fraud Enforcement Division announce.
Anzivino pleaded guilty to one count of money laundering conspiracy before U.S. District Judge Landya McCafferty. The Court scheduled sentencing for January 21, 2027. The defendant faces a maximum penalty of ten years in prison. Sentences are imposed by a federal district court judge based upon the U.S. Sentencing Guidelines and statutes that govern the determination of a sentence in a criminal case.
According to court documents and statements made in court, Anzivino conspired with others to launder health care fraud proceeds. Specifically, Anzivino…
Investment fraud targets the human desire for financial growth by promising high returns with “low to no risk.”
- Ponzi Schemes: Named after Charles Ponzi, these schemes pay “returns” to earlier investors using the capital brought in by newer investors. There is no actual underlying business; the system collapses when new recruitment slows down.
- Pyramid Schemes: Similar to Ponzi schemes, but participants are usually required to sell a product or service. The primary “profit” comes from the recruitment fees of new members rather than actual product sales.
- Pump and Dump: Fraudsters spread false, positive rumors about a cheap stock (the “pump”) to drive up the price. Once the price peaks, they sell their shares (the “dump”), leaving other investors with worthless stock.