Crypto Fund Manager Faces Fraud Charges | Schipelliti Plea

The news out of Boston federal court today confirms what was anticipated: Luciano Schipelliti, a 28-year-old man from Haverhill, Massachusetts, has pleaded guilty to one count of wire fraud. This case, unfolding against the backdrop of the Merrimack Valley’s growing interest in digital finance, serves as a stark reminder of the risks inherent in unregulated investment schemes, particularly those involving cryptocurrency. While the details are sobering, they also present an opportunity for residents of Haverhill and surrounding communities – like Andover, Methuen, and Lawrence – to reassess their own financial security and understand the resources available should they find themselves victims of similar fraud.

The Superstars Fund and the TTM Fund: A Pattern of Deception

According to court documents and reporting from newslinklive.com and the Department of Justice, Schipelliti’s fraudulent activity began in the fall of 2018 with the establishment of the “Superstars Fund.” He successfully raised approximately $275,000 from investors, promising returns through cryptocurrency investments. However, by 2019, those funds had been entirely lost. Crucially, Schipelliti failed to disclose this loss to his investors. Instead, he continued to perpetuate a false narrative of growth, sending out monthly newsletters claiming the Superstars Fund was thriving. This deception laid the groundwork for a second, even larger scheme.

In February 2021, Schipelliti launched the “TTM Fund,” leveraging the false confidence he’d built with the Superstars Fund investors. He raised an additional $350,000, again earmarked for cryptocurrency investments. The U.S. Attorney’s Office alleges that these funds were also lost by September 2021, primarily through unsuccessful cryptocurrency trades, with some funds potentially misused in violation of the TTM Fund’s operating agreement. The total amount of money fraudulently obtained from investors reached approximately $350,000, a significant sum impacting individuals within the Haverhill community, and beyond.

The Legal Ramifications and the Role of Federal Agencies

Schipelliti’s guilty plea comes after being charged in March 2026. He has agreed to plead guilty before Senior U.S. District Judge F. Dennis Saylor IV, with sentencing scheduled for June 24, 2026. The charge of wire fraud carries a potential sentence of up to 20 years in prison, three years of supervised release, and a fine of up to $250,000. This case was brought forth by the U.S. Attorney’s Office for the District of Massachusetts, with U.S. Attorney Leah Foley and Ted Docks, Special Agent in Charge of the FBI’s Boston Division, announcing the charges. Assistant U.S. Attorney Benjamin Saltzman of the Securities, Financial & Cyber Fraud Unit is prosecuting the case, highlighting the increasing focus on cybercrime and financial fraud within the federal legal system.

The involvement of the FBI’s Boston Division underscores the growing concern over cryptocurrency-related fraud. The volatile nature of the cryptocurrency market, coupled with its relative lack of regulation, makes it an attractive avenue for fraudulent schemes. The case also highlights the importance of due diligence for investors, and the need to be wary of promises of high returns with little to no risk. The Essex County District Attorney’s office, while not directly involved in this federal case, likely monitors trends in financial crimes impacting the local community, and collaborates with federal agencies on related investigations.

Beyond the Headlines: Protecting Yourself in a Digital Age

This case isn’t just about one individual’s actions; it’s a cautionary tale for anyone considering investments, especially in the rapidly evolving world of cryptocurrency. The allure of quick profits can cloud judgment, and it’s easy to fall prey to sophisticated scams. The Haverhill Public Library, a cornerstone of the community, offers resources on financial literacy and fraud prevention, providing valuable information to residents seeking to protect their assets. The Better Business Bureau (BBB) serving Massachusetts and Rhode Island provides resources and complaint resolution services for consumers who believe they have been victims of fraud.

Navigating the Aftermath: Local Resources for Haverhill Residents

Given my background in risk management and financial analysis, if this type of situation impacts you or someone you know in the Haverhill area, here are three types of local professionals you should consider consulting:

Forensic Accountants

If you suspect you’ve been defrauded, a forensic accountant can trace funds, analyze financial records, and provide expert testimony if legal action is necessary. Look for professionals with Certified Fraud Examiner (CFE) credentials and experience in cryptocurrency-related investigations. They can support quantify your losses and build a strong case for recovery.

Securities Litigation Attorneys

An attorney specializing in securities litigation can advise you on your legal options, including potential lawsuits against the perpetrator or other parties involved. Prioritize attorneys with a proven track record in representing investors in fraud cases, and who are familiar with the complexities of cryptocurrency regulations. They can assess the viability of your claim and guide you through the legal process.

Financial Recovery Specialists

These specialists focus on helping individuals recover lost funds from scams and fraud. They often work with law enforcement and regulatory agencies to track down assets and pursue restitution. Look for firms with a strong reputation for success and a transparent fee structure. They can provide a valuable service in navigating the often-complex process of recovering lost investments.

Ready to find trusted professionals? Browse our complete directory of top-rated financial services experts in the Haverhill area today.