Massachusetts Man Sentenced to Prison for Investment Fraud

BOSTON - A Haverhill man was sentenced today in federal court in Boston for fraudulently obtaining $350,000 in investor funds.

Luciano Schipelliti, 29, was sentenced byU.S. Senior District Court Judge F. Dennis Saylor IV to one year and one day in prison, to be followed by two years of supervised release with six months of home confinement. The defendant was also ordered to pay restitution in the amount of $350,000. In April 2026, Schipelliti pleaded guilty to one count of wire fraud. He was charged in March 2026.

In the fall of 2018, Schipelliti established the Superstars Fund and raised roughly $275,000 to invest in cryptocurrency. By 2019, through a series of bad investments, Schipelliti lost all the money in the Superstars Fund. He did not, however, tell any of the investors that he had lost the money. Instead, beginning in approximately November 2020, Schipelliti began sending monthly newsletters to investors that falsely reported that the Superstars Fund continued to grow in value.

Based on the misrepresented performance of the Superstars Fund in approximately February 2021, Schipelliti launched a new fund, the TTM Fund, through which he raised approximately $350,000 to invest in cryptocurrency. Schipelliti lost all the money in the TTM fund by September 2021. According to the charging documents, Schipelliti lost most of the money in the TTM Fund investing in cryptocurrency and also used some of the money in a manner inconsistent with the terms of the TTM Fund's operating agreement.

United States Attorney Leah B. Foley and Ted E. Docks, Special Agent in Charge of the Federal Bureau of Investigation, Boston Division made the announcement. Assistant U.S. Attorney Benjamin A. Saltzman of the Securities, Financial & Cyber Fraud Unit prosecuted the case.