Pyramid Scheme Operators Sentenced To Combined 14 Years In Prison
Richard Maike and Doyce Barnes have been sentenced to 10 years and 4 years in prison, respectively, for their roles in running a pyramid scheme.
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Richard Maike and Doyce Barnes have been sentenced to 10 years and 4 years in prison, respectively, for their roles in running an illicit pyramid scheme. The pair were convicted in a federal jury trial in September for the illegal operation of Infinity 2 Global, marketed as a multi-level marketing company, and for securities fraud. Maike was also convicted of money laundering and tax evasion for his use and laundering of around $3.2 million in I2G assets.
Over 90 percent of people recruited to buy memberships in I2G lost money. The two will face a restitution hearing to layout funds for victims in February. Victims who want to submit a claim for resitution can email the U.S. Attorney’s Office at usakyw.i2grestitution@usdoj.gov. Another co-defendant, Farady Hosseinipour, is scheduled for sentencing in January.
