On October 21, 2020, Daniel Battaglia was sentenced by United States District Judge Brian Jackson to 24 months in federal prison with 3 years of supervised probation after release. He was also ordered to pay restitution of $114,900 along with court fine and fees. Battaglia had previously pled guilty to wire fraud on January 12, 2020.
Battaglia acknowledged through his guilty plea that he defrauded investors by indicating their investments would be used for operation of a business. He admitted to falsely promising that investors would receive significant returns on their investments in a short period of time, and that the returns were guaranteed. Instead, Battagia confirmed that he used investor funds for his personal use and benefit.
The investigation into Battaglia’s activities was conducted by the Federal Bureau of Investigations and Securities Division of the Louisiana Office of Financial Institutions. The prosecution was handled by the United States Attorney’s Office for the Middle District of Louisiana.