April 9, 2019

Antonio Carlos de Godoy Buzaneli of Florida was sentenced to 20 years in prison for his role in a scheme that raised approximately $150 million from investors for his company Providence Holdings International, Inc., which Buzaneli represented would invest in the factoring of accounts receivable in Brazil. In fact, much of the investors’ funds were used to make Ponzi-style payments to other investors, and to make commission payments to Providence’s nationwide network of brokers. USAO Minn

Tagged in: Criminal Proceedings, Financial and Investment Fraud, Ponzi Schemes, Securities Fraud,