Joseph Cammarata sentenced to 10 years for recovery fraud
Former Investview CEO Joseph Cammarata has been sentenced to ten years in prison for recovery scamming.
Cammarata will also have to pay $31.2 million in restitution.
Cammarata (right) will receive credit for time served (he was arrested in late 2021), and has been recommended to FCI Fort Dix in New Jersey.
In addition to serving time, Cammarata will also pay:
- $31,275,832 in restitution;
- a $250,000 fine; and
- an $800 assessment fee
Cammarata’s restitution will be satisfied by $16.4 million in cash and surrendering of multiple real-estate properties in Pennsylvania.
Cammarata’s June 6th sentencing follows a jury finding him guilty of mail and wire fraud conspiracy, wire fraud, money laundering and conspiracy to commit money laundering last November.
Through Alpha Plus Recovery, Cammarata and two accomplices stole millions through securities fraud recovery scams.
During the conduct Cammarata was also CEO of Investview, owner of the MLM company iGenius.
While iGenius wasn’t part of Cammarata’s recovery scamming, the SEC is separately investigating Investview for potential iGenius securities law violations.
BehindMLM reviewed iGenius and identified securities fraud back in 2021.
In addition to his Alpha Plus Recovery criminal conviction, the SEC filed related securities fraud charges against Cammarata in late 2021.
As of June 2023, the SEC’s civil fraud case against Cammarata is still playing out (the case was stayed pending the outcome of Cammarata’s criminal proceedings).
Cammarata was also indicted for tax fraud in late 2022. That case, filed in New Jersey, is also still playing out.
Update 16th June 2023 – Joseph Cammarata has filed an appeal against his prison sentence and monetary judgment.