Group posed as bogus churches to mask illegal virtual currency business, jury says
Six individuals are charged with wire fraud after a grand jury in New Hampshire accused them of opening numerous bank accounts in the names of church institutions to receive funds from an illegal business.
Three of them — Andrew Spinella, 36, and Renee Spinella, 24, both from Derry, a town about 40 miles northwest of Boston, and Nobody, 53, also known as Richard Paul — pleaded guilty to wire fraud, according to an April 18 news release from the U.S. Attorney’s Office for the District of New Hampshire.
Defense attorneys for the three individuals did not immediately respond to a request for comment for McClatchy News on April 18.
Starting in 2016, Andrew and Renee Spinella, Nobody and the three others, operated an illegal business that allowed customers to exchange fiat currency — like U.S. dollar bills — with virtual currency for a fee, a grand jury said.
Between 2016 and 2021, they are believed to have exchanged about $10 million for virtual currency, court documents obtained by McClatchy News show, violating federal anti-laundering laws.
As part of their business, the group opened accounts at U.S. banks ”either as personal accounts or in the names of purported religious entities” like the Church of the Invisible Hand, the Shire Free Church and others, a grand jury said.
The group told financial institutions that the accounts were used to “receive church donations and conduct church outreach,” court documents show.
Renee Spinella opened and operated accounts in her name and in the name of the Crypto Church of New Hampshire for the virtual currency sales business, which was run by another person, according to court documents.
She listed her title as minister and described the church as an “international ministry,” noting that she “anticipated receiving $100,000 in cash deposits monthly,” court documents show.
The bank employee who opened the account told officials that she was told the “church was a universal church and that donations would be coming in from all over the world.”
On April 14, Renee Spinella pleaded guilty to ”superseding information charging her with wire fraud,” court records show.
Between 2017 and 2018, Andrew Spinella opened bank accounts in his name to be used for the virtual currency business, the grand jury said. On April 12, he also pleaded guilty to wire fraud, court documents show.
Between 2019 and 2021, Nobody opened personal accounts in his name as well as business accounts in the name of the Church of the Invisible Hand, court documents show. On April 15, he pleaded guilty to wire fraud.
“Andrew and Renee Spinella, along with Nobody, confessed to opening and operating bank accounts, using their names or the names of religious organizations, to help their co-defendant run his virtual currency business,” Joseph R. Bonavolonta, Special Agent in Charge of the FBI Boston Division, said in the release.
Andrew and Renee Spinella are scheduled to be sentenced on July 26, according to the release, and Nobody is scheduled for sentencing on July 28.
The three others accused of being involved in the operation are set to go to trial in November, officials said.
This story was originally published April 18, 2022 at 12:44 PM with the headline "Group posed as bogus churches to mask illegal virtual currency business, jury says."
