Stefano Zanetti, a Canadian conman who made a small fortune by scamming elderly individuals in a sophisticated international fraud scheme, has been sentenced to 15 years in a U.S. federal prison. The 44-year-old pleaded guilty in December to conspiracy to commit wire fraud and money laundering. He was also ordered to pay a $35,000 fine and $780,870 in restitution.
Mastermind of a fraudulent scheme
According to court documents, Zanetti orchestrated a scheme targeting elderly victims in Pittsburgh and other parts of the United States. Members of the Canadian-based conspiracy would contact potential victims, falsely claiming that a family member had been detained and needed money for bail. The victims were instructed to withdraw cash and hand it over to couriers who would pick it up at their homes. The money was then laundered through cryptocurrency or shipped to Canada.
In reality, the family members were not detained, and the entire narrative was fabricated. The scheme caused significant financial and emotional harm to numerous elderly victims and their families.
Fraud blitz in Pittsburgh
According to the U.S. Department of Justice, Zanetti dispatched three-man crews to Pittsburgh in September 2021 and February 2022 to collect money from victims. All six co-conspirators—Roderick Feurtado, Tarek Bouanane, Roberto Gutierrez, Hector Enrique Escorihuela Gil, Yhonlester Wuiler Manuel Da Silva Quintero, and Adrian Orozco Perez—have been convicted and sentenced.
Through his plea deal, Zanetti accepted responsibility for losses ranging from $1.5 million to $3.5 million. A separate indictment in Vermont charged 25 Canadian nationals linked to call centres that targeted victims as part of Zanetti's conspiracy.
Judge highlights 'perfect knowledge'
U.S. District Judge Nicholas Ranjan noted that Zanetti played a crucial role in the sophisticated fraud with “perfect knowledge” of its various components. The judge emphasized the emotional toll and financial losses inflicted on victims.
Zanetti, believed to be from Montreal, operated out of Panama but was arrested there and extradited to the United States.
“Zanetti and his co-conspirators inflicted severe financial and emotional injury upon numerous elderly victims and their families through this scheme,” said U.S. Attorney Troy Rivetti for the Western District of Pennsylvania. “This prosecution and the sentence imposed confirm that the Department of Justice and our law enforcement partners will use all of the resources at our disposal to investigate, identify, and bring to justice those who prey upon vulnerable members of our community, whether these predators are located in the United States or abroad.”
