Florida Executive Sentenced To 20 Years In Prison For Orchestrating $150M International Ponzi Scheme

United States Attorney Erica H. MacDonald today announced the sentencing of ANTONIO CARLOS DE GODOY BUZANELI, 57, to 240 months in prison for his role in a $150 million investment fraud scheme involving Brazilian factoring. BUZANELI, who entered his guilty plea on April 19, 2018, was sentenced today before Senior Judge Michael J. Davis in U.S. District Court in Minneapolis, Minnesota. BUZANELI’S co-conspirators, JOSE MANUEL ORDOÑEZ, JR., 48, was sentenced on January 23, 2019, to 120 months in prison and JULIO ENRIQUE RIVERA, 62, will be sentenced on April 16, 2019.

U.S. Attorney Erica MacDonald said, “Antonio Buzaneli was the primary architect of a $150 million Ponzi scheme that targeted hundreds of victims worldwide, many of whom were elderly and vulnerable. Some victims lost their retirement savings, others lost the ability to provide a college education to their children or grandchildren. For these egregious crimes, Mr. Buzaneli will spend the next 20 years behind bars. I applaud our law enforcement partners for their steadfast efforts in seeking justice for the victims.”

“No matter how complex the scheme, the FBI is committed to stopping fraudsters like these from preying on people, especially elderly investors who may have lost their life savings in this case,” said Jill Sanborn, Special Agent in Charge of the FBI's Minneapolis Division. “We are grateful for our partners at the U.S. Attorney’s Office, the United States Postal Inspection Service and the Minnesota Commerce Fraud Bureau for thoroughly investigating this global scheme and bringing these criminals to justice; and we believe this matter further illuminates the need for citizens to be wary of those peddling these kinds of fraudulent business investments.”

“Our securities enforcement unit and the Commerce Fraud Bureau began investigating this scheme after receiving a tip about a suspicious investment opportunity being offered in Minnesota,” said Steve Kelley, Commissioner of the Minnesota Department of Commerce. “We are proud that the Commerce Fraud Bureau collaborated successfully with federal authorities, bringing to justice a far-reaching operation that deceived Minnesotans.”

Read more: https://www.justice.gov/usao-mn/pr/florida-executive-sentenced-20-years-prison-orchestrating-150-million-international-ponzi