On September 24, 2025, Faraday Hosseinipour, a convicted promoter of the Infinity2Global (I2G) Ponzi scheme, filed an appeal arguing her former attorney, Wayne Manning—her brother-in-law—provided ineffective representation, potentially leading to a new trial, per. Convicted in September 2022 of conspiracy to commit mail fraud and securities fraud, Hosseinipour was sentenced to 30 months in prison on January 5, 2023, after earning nearly $800,000 from I2G’s $25M scam, per. Her initial appeal was denied in June 2025, but a motion for reexamination was granted, per.
Hosseinipour’s new attorney claims Manning was “inept pretrial and throughout the trial,” leaving her “defenseless,” with “devastating consequences,” per. The filing argues Manning failed to properly brief her on evidence and sentencing ranges, leading her to reject a plea deal and go to trial, per. Hosseinipour maintains her innocence, portraying herself as a victim, despite the court’s 2023 finding that she knew the scheme was fraudulent, per. The DOJ’s September 23 response counters that Hosseinipour was fully informed and chose trial, rejecting a felony plea, per.
The Department of Justice (DOJ) argues Manning did not impede negotiations, securing a draft plea and proffer session, but Hosseinipour refused to plead guilty to a felony she denied committing, per. At sentencing, the court dismissed her “victim” narrative, stating she “knew there was something rotten” and stole over $800,000, per. The DOJ urges denial, asserting Hosseinipour failed her burden and impeded talks herself, per. X posts from legal analysts like @CryptoLawyerz question the appeal’s merit, noting her racial profiling claims were previously rejected, per.
I2G, a casino-themed Ponzi launched by Richard Maike in 2013, defrauded investors of $25M through pyramid ranks, with co-defendants like Doyce Barnes (4 years) and Richard Anzalone (guilty plea) also convicted, per. Hosseinipour’s appeal, if successful, could reopen victim restitution exceeding $10M, per. The case highlights risks in MLM crypto schemes, similar to Forsage ($340M losses), per. Bitcoin (BTC) ($113,234) and Ethereum (ETH) ($4,070) remain stable, per CoinMarketCap, but appeals like this may erode trust in DeFi. Investors should verify schemes via sec.gov and diversify into USDC with stop-losses below BTC’s $112,000, per TradingView.
