Vincent Anthony Mazzotta, Jr. Agrees to Plea Deal in Crypto Fraud Case
On June 6, 2025, a plea agreement was filed in the case of USA v. Vincent Anthony Mazzotta, Jr. Mazzotta, who is also known by several aliases including “Vincent Midnight” and “Director Vinchenzo,” has agreed to plead guilty to conspiracy to obstruct justice and money laundering.
Mazzotta faced multiple charges related to a scheme that defrauded cryptocurrency investors. According to the plea agreement, he conspired with co-defendant David Gilbert Saffron and others to mislead investors, resulting in substantial financial losses. The fraudulent activities involved a fictitious entity called the Federal Crypto Reserve, which falsely claimed to assist victims of cryptocurrency fraud.
The scheme began as early as December 2017 and continued until July 2023. Mazzotta and Saffron solicited investments from individuals, promising high returns through advanced trading strategies involving artificial intelligence. Instead, the funds were misappropriated for personal use. Victims reportedly suffered losses exceeding $9.5 million.
As part of the plea agreement, Mazzotta will plead guilty to counts nine and eleven of the superseding indictment, which charge him with conspiracy to obstruct justice (18 U.S.C. § 371) and money laundering (18 U.S.C. § 1957). In exchange for his plea, the prosecution will move to dismiss the remaining charges against him.
The agreement outlines several obligations for Mazzotta. He is required to testify truthfully in any related investigations and fully cooperate with law enforcement. This includes attending all court appearances and complying with any sentencing recommendations made by the United States Attorney’s Office.
Mazzotta has also agreed to pay restitution, with estimates suggesting the amount owed could be as high as $13,949,435.71. Additionally, he will face a personal money judgment of forfeiture amounting to $597,763.33, which represents proceeds from the fraudulent activities.
The statutory maximum sentence for the conspiracy charge is five years of imprisonment, while the money laundering charge carries a maximum of ten years. If convicted on both counts, Mazzotta could face a total of 15 years in prison, alongside a fine of up to $500,000 and mandatory special assessments.
The plea agreement indicates that Mazzotta may receive a reduction in his sentencing guideline level if he demonstrates acceptance of responsibility. However, his cooperation is contingent upon his compliance with the terms of the agreement, including refraining from committing any further crimes.
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