On Monday, October 20, 2025, Law.com reported that Sean Hvizdzak, a 39-year-old suspended attorney in Pennsylvania, pleaded guilty to conspiracy and wire fraud in federal court. The plea agreement, reached on the day his trial was set to begin, potentially averts a lengthy prison sentence.
The agreement between Hvizdzak and the government includes a sentencing recommendation of zero to three months of imprisonment, followed by three years of supervised release, potentially served under home confinement. Should Hvizdzak avoid incarceration, the government recommends five years of supervision, with four years spent on home confinement.
David J. Berardinelli, partner at DeForest Koscelnik & Berardinelli, representing Hvizdzak, stated that the plea agreement was made to bring closure to the matter for Hvizdzak’s family. Berardinelli also clarified that the plea should not be interpreted as an admission of extensive involvement in the alleged misconduct he purportedly committed with his brother, Shane Hvizdzak.
Prosecutors alleged that Sean Hvizdzak conspired with his brother, Shane Hvizdzak, 37, to solicit investments nationwide for High Street Capital Fund USA. The brothers then allegedly diverted the funds into entities they controlled, thereby evading oversight from the fund’s administrator. The diverted funds were allegedly moved into personal and cryptocurrency wallets.
The prosecution further claimed that investors were presented with falsified audits for High Street that omitted related entities. One fund, which reportedly lost 25% of its value, was falsely reported to have gained 100%. Furthermore, a purported $286 million investment in Gemini Space Station Inc. was, in reality, valued at just $2.96.
Authorities allege that portions of the investor funds were misappropriated for personal use. These expenditures allegedly included luxury property purchases, home renovations, transfers to personal and family accounts, and payments to earlier investors. These transactions form the basis of the money laundering counts, which cover transactions exceeding $10,000 using proceeds from the alleged fraud.
Shane Hvizdzak pleaded guilty to money laundering, wire fraud, and conspiracy to avoid trial. Prosecutors are seeking a sentence of 14 to 17.5 years from U.S. District Judge W. Scott Hardy of the Western District of Pennsylvania, citing the amount of money involved and the sophistication of the scheme.
Berardinelli acknowledged that there was sufficient evidence for jurors to convict Sean Hvizdzak for failing to correct his brother’s false claims to investors regarding the fund’s performance and audits. The terms of the plea deal allow for a potential sentence reduction if the brothers can fully repay investors before the scheduled sentencing hearing in February.
Shane Hvizdzak’s sentencing hearing is scheduled for February 18, while Sean Hvizdzak’s sentencing hearing is scheduled for February 25. Prosecutors are likely to combine the hearings to allow victims to attend and testify more conveniently and for the court to consider the matter more efficiently.
Berardinelli stated, “The disparity in the sentences [between the brothers] tells you all you need to know about who the truly culpable party is here.”
Source: Law.com
