Joseph Cammarata indicted again for tax fraud
Having been convicted of wire fraud and money laundering, former Investview CEO Joseph Cammarata now faces tax fraud criminal charges.
Like Cammarata’s wire fraud and money laundering case, his alleged tax fraud is tied to Alpha Plus Recovery.
As detailed in Cammarata’s September 22nd indictment,
Alpha Plus Recovery LLC was incorporated in the State of New Jersey on August 21, 2014.
Alpha Plus was in the Business of aggregating claims on behalf of individuals or institutional shareholders who had a right to claim monetary recovery from securities fraud class action settlements.
Defendant Joseph Cammarata along with Erik Cohen and David Punturieri … owned, operated, and managed Alpha Plus.
Defendant Cammarata had signatory authority over Alpha Plus’ bank accounts.
Three of Alpha Plus’ cited clients are:
- Nimello Holding LLC – incorporated in Gibraltar and New Jersey and attached to a PNC Bank account in the name “NJ Nimello”
- Quartis Trade and Investment LLC – incorporated in the Bahamas and New Jersey, attached to PNC Bank, TD Bank and Investors Bank accounts in the name NJ Quartis
- Inversiones Invergasa SAS – incorporated in Colombia
As per Cammarata’s indictment, through the three shell companies above, Cammarata made “false and fraudulent claims” with claims administrators in SEC recovery cases.
Funds obtained through the bogus claims were laundered through TD Bank accounts, in the name PB Trade LLC and Misc Holdings Corp.
These accounts were both owned and controlled by Cammarata (right).
From on or about May 26, 2015, through on or about August 9, 2021, defendant Joseph Cammarata used funds from the PB Trade LLC TD Bank account for personal expenditures.
From on or about May 6, 2015, through on or about February 19, 2020, defendant Joseph Cammarata withdrew $530,880 of cash from the PB Trade LLC TD Bank account.
Cammarata also laundered money through a PB Trade LLC brokerage account held at Merrill Lynch, Pierce, Fenner and Smith.
From on or about February 22, 2016, through on or about July 15, 2021, defendant Joseph Cammarata transferred funds from the PB Trade LLC TD Bank account to a personal account at TD Bank that he shared with his wife.
All in all Cammarata illegally obtained “more than $18 million” through bogus Alpha Plus client claims.
From at least on or about January 1, 2015, through on or about October 12, 2020, defendants Cammarata used funds from bank and brokerage accounts in the names of PB Trade LLC and Misc Holdings to pay more than $4 million of personal expenses.
The DOJ contends that through the use of the above corporate account, Cammarata
wilfully attempted to evade and defeat a large part of the income tax due and owing by him and his wife to the US for the calendar year 2015.
Cited amounts Cammarata allegedly withheld from the IRS are:
- $1.7 million in 2015
- $2.5 million in 2016
- $4.8 million in 2017
- $3.5 million in 2018 and
- $3.3 million in 2019
As per his indictment Cammarata has been charged with five counts of tax evasion, corresponding to each of the above five years.
Cammarata’s tax fraud indictment arraignment was held on November 15th. Cammarata plead not guilty on all five counts.
A ten minute Status Conference was held on December 16th, at which Cammarata was not present.
As I understand it scheduling for Cammarata’s tax fraud case has yet to be determined. Stay tuned for updates as we continue to track the case.
Footnote: While Alpha Plus Recovery has nothing to do with MLM, Joseph Cammarata was appointed CEO of Investview in 2019.
Cammarata ran the Alpha Plus Recovery scam alongside his Investview executive position.
Cammarata was terminated as CEO of Investview following his arrest in November 2021.
BehindMLM maintains that Investview has and continues to commit securities fraud through its iGenius MLM opportunity.
Cammarata was active in the NDAU token investment side of iGenius. In January 2022 regulatory filings, Investview confirmed the SEC is investigating its iGenius opportunity.
Update 8th February 2023 – Cammarata filed a motion requesting an order granted denying him bail be over turned. The motion was denied on January 24th.
A Jury Trial for Cammarata’s tax fraud criminal case has been scheduled for May 22nd, 2023.
Update 30th April 2023 – Cammarata’s tax fraud jury trial has been rescheduled for September 6th, 2023.
Update 18th August 2023 – At the request of Cammarata, his tax fraud trial has been rescheduled for November 6th.
Cammarata requested more time to “conduct appropriate investigation”, “prepare for the trial” and determine if he wants to take a plea deal.
Update 4th November 2023 – Cammarata has opted to go to trial, meaning he’s rejected taking a plea deal.
As per Cammarata’s tax fraud case docket;
- jury instructions were filed on October 19th
- a motion to dismiss Cammarata’s indictment was denied on October 30th
- jury selection began and was completed on October 31st
- as of November 3rd, the docket is marked “Jury Trial Day 5”
There are multiple adjournments and nothing on the docket reflecting what happened on November 1st to November 3rd. I believe this means the trial proper will kick off as scheduled on November 6th.
I’ll check back for another update mid next week.
Update 24th November 2023 – Cammarata has been found guilty on all five counts of tax fraud.