Two Florida men are awaiting federal sentencing after admitting they played roles in laundering nearly $9 million stolen from elderly victims of online romance scams, according to federal prosecutors in Connecticut.
Richard Fasanella, 56, and John J. Intoci, 65, both from Spring Hill, Florida, were involved in a long-running operation that moved funds from scam victims through a network of bank accounts and shell companies before converting the money into cryptocurrency.
Prosecutors say Fasanella orchestrated the scheme. From 2018 through 2024, he allegedly opened multiple bank accounts under his own name and through fake businesses. He also recruited others, including Intoci, to establish similar accounts.
Victims of romance scams—many of them elderly—sent checks, cash, and money orders to these accounts. In total, authorities say nearly $9 million passed through the network. The two men reportedly kept a portion of the funds before transferring the rest to scam operators using cryptocurrency wallets.
Investigators said the case stands out because Fasanella allegedly continued the operation even after banks and law enforcement intervened. Authorities flagged accounts, seized funds, and shut down banking channels, but prosecutors say he repeatedly created new ways to continue moving money.
Fasanella pleaded guilty on March 3 to conspiracy to commit money laundering and illegal monetary transactions. The charge carries a potential sentence of up to 20 years in prison. His sentencing is scheduled for May 26.
Intoci pleaded guilty on Monday to conspiracy to operate an unlicensed money transmitting business, which carries a maximum sentence of five years. He has been free on a $50,000 bond since his arrest in January 2025 and is set to be sentenced on May 29.
The investigation was led by the U.S. Postal Inspection Service, the IRS Criminal Investigation Global Illicit Financial Team, and the Treasury Inspector General for Tax Administration. Authorities said the U.S. Marshals Service and Colombian officials also assisted in the case.
