Tag: advance_fee_scheme

Florida Men Convicted in $18 Million Advance-Fee Loan Scheme

7 Jul 2026 11:39 a.m. · Source: FBI

Joseph Malvasio and Gregg Marcus were convicted of wire fraud and conspiracy for an $18 million advance-fee scheme. They defrauded hundreds of victims by promising loans they never intended to provide, collecting upfront fees instead.

Politics and Government Law Enforcement Business Federal Government Economy Legal Financial Markets Wire Fraud Conspiracy Advance-Fee Scheme Joseph Malvasio Gregg Marcus Southern District of New York Legal Proceedings FBI