On September 24, 2025, Faraday Hosseinipour, a key promoter in the Infinity2Global (I2G) Ponzi scheme, filed an appeal claiming her former attorney and brother-in-law, Wayne Manning, provided ineffective counsel, potentially warranting 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 profiting nearly $800,000 from the $25M scam, per. Her initial appeal was denied in June 2025, but a motion for reexamination was granted, per.
Hosseinipour’s new attorney argues Manning was “inept pretrial and at trial,” leaving her “defenseless” with “devastating consequences,” per. The filing contends Manning failed to adequately inform her of evidence and sentencing risks, leading her to reject a plea deal and proceed to trial, per. Despite the conviction, Hosseinipour maintains her innocence, portraying herself as a victim, contrary to the court’s 2023 ruling that she knowingly participated in the fraud, per. The DOJ’s September 23 response asserts Hosseinipour was fully briefed and chose trial, rejecting a felony plea, per.
The Department of Justice (DOJ) counters that Manning facilitated 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 rejected her “victim” narrative, stating she “knew there was something rotten” and stole over $800,000, per. The DOJ urges denial, arguing Hosseinipour failed her burden and impeded talks herself, per. X posts from legal observers like @CryptoLawyerz question the appeal’s viability, noting her prior racial profiling claims were dismissed, per.
Infinity2Global, a casino-themed Ponzi launched by Richard Maike in 2013, defrauded investors of $25M via 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 $10M+ in victim restitution, per. The case echoes MLM crypto scams like Forsage ($340M losses), per. Bitcoin (BTC) ($113,234) and Ethereum (ETH) ($4,070) remain stable, per CoinMarketCap, but such appeals may erode DeFi trust. Investors should verify schemes via sec.gov and diversify into USDC with stop-losses below BTC’s $112,000, per TradingView.
