Owensboro man among three found guilty in pyramid scheme

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Published: Sep. 12, 2022 at 10:17 AM CDT
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OWENSBORO, Ky. (WFIE) - An Owensboro man was one of three found guilty by a federal jury in a pyramid scheme case.

Officials say 55-year-old Richard Maike of Owensboro, 73-year-old Doyce Barnes of North Carolina and 54-year-old Faraday Hosseinipour of Florida were convicted of conspiracies to commit mail and securities fraud.

They say this was in connection with the sales of positions in Infinity 2 Global (I2G), a multi-level marketing company, which United States officials say they proved at trial was operating as a pyramid scheme.

Maike, Barnes and Hosseinipour were also convicted of conspiracy to commit securities fraud in connection with the sale of $5,000 Emperor positions in the company as a form of passive income.

Maike was also convicted of money laundering and tax evasion in connection with his use of approximately $3.2 million in I2G funds.

Officials say some of those funds were wired to and from an Infinity 2 Global bank account in Hong Kong and used by Maike to buy 1,800 acres of ranch land in Kansas for personal use.

The evidence at trial showed that in approximately 15 months, I2G sold nearly 5,000 of the $5,000 Emperor positions generating, along with other lower-priced positions, over $30 million in revenue.

Officials say much of that went out in the form of commissions to the promoters at the top of the pyramid structure.

Commissions were generated based on the recruitment of new members into the company. Over 90% of the people who bought a membership in I2G lost money.

Maike, Barnes and Hosseinipour are set to be sentenced on December 12.

Officials say Maike faces a maximum penalty of 125 years in prison.

Barnes and Hosseinipour each face the maximum penalty of 25 years.

Richard Maike.
Richard Maike.(Daviess County Detention Center.)