SALT LAKE CITY, Utah — A 55-year-old Salt Lake City man has been sentenced to 36 months in prison for his role in a fraudulent moneymaking scheme.
Phillip Gannuscia pleaded guilty to conspiracy to commit money laundering on April 9, 2025. In addition to his prison term, U.S. District Court Judge David Barlow ordered Gannuscia to serve 24 months of supervised release and forfeit his Porsche 911 convertible, which was linked to the scheme, according to court documents.
The scheme, which ran from December 2018 through April 2022, involved creating fake companies using personal information from family and friends to apply for credit card processing accounts. These accounts were used to process sales of nutraceutical and dietary products, which were advertised misleadingly. Due to high numbers of refunds or “chargebacks,” the accounts were frequently shut down. Gannuscia and others set up fake companies to circumvent these shutdowns and laundered the proceeds…