URGENT UPDATE: The sentencing of the Hvizdzak brothers is in turmoil as new developments emerge in their federal fraud case. Shane Hvizdzak, 37, and Sean Hvizdzak, 39, are both facing serious repercussions from their alleged involvement in a cryptocurrency scheme that defrauded investors of approximately $31 million.
Just announced, Shane’s attorneys are pushing for a delay in his sentencing, originally set for March 26, 2024, in Pittsburgh. They have requested a 30-day continuance to gather crucial evidence, indicating the complexity of his case involving 49 counts of wire fraud and money laundering. The new court date is 10 a.m. on March 26, before Judge W. Scott Hardy in Courtroom 3B.
Meanwhile, Sean’s legal team has raised significant concerns about inaccuracies in his presentence report, which lists the fraudulent amount as $25 million. In contrast, Sean’s plea agreement specifies a range of $1.5 to $3.5 million. This discrepancy could lead to harsher sentencing enhancements if not corrected. Sean’s sentencing is set for February 25, 2024, in the same courtroom.
The brothers were implicated following an FBI investigation that began on June 17, 2020, when agents visited their parents’ home in Bradford, seeking information about the alleged scheme. The Department of Justice alleges that the Hvizdzaks misled investors by fabricating statements indicating significant returns on investments in digital assets, while diverting funds into their personal accounts and moving assets outside the U.S.
As tensions rise around their cases, both brothers face vastly different potential outcomes. Sean is reportedly negotiating for a sentence of no jail time to a maximum of three months, while Shane could face up to 15 years in prison.
The stakes are high, and the legal battles are far from over. Watch for updates as the Hvizdzak brothers navigate this complex web of allegations and legal maneuvers. Keep an eye on their upcoming court dates; the outcomes could have dramatic implications for both men and their families.