PROVIDENCE, R.I. (WLNE) — United States Attorney Zachary Cunha said that a former Rhode Island man presented himself to investors as a software developer and businessman while orchestrating “fraudulent investment schemes.” 69-year-old Jack A. Ranallo, aka Giacomo A. Siciliano, most recently from Manorville, N.Y., was charged with seven counts of wire fraud and three counts of money laundering. Cunha said that Ranallo allegedly presented himself as a “Master Software Architect” and “Data Scientist” to investors, and told them he was developing software programs such as iGuardian360, a purported cyber security program, and Intelligrid, a program designed to divert electricity between power stations to avoid an outage. He also allegedly said he was the owner of iGuardian Angel, a company which held copyrights on his cybersecurity software, neither of which actually existed. Cunha added that Ranallo allegedly created bogus text messages and simulated incoming calls from well-known entrepreneurs, such as the founders of Apple, Oracle Corporation, Amazon, Microsoft, and the hedge fund Appaloosa Management, to bolster his credibility. He would also show investors fraudulent checks made out by the companies, and would deposit these checks as well as ones from investors into his own bank account. Cunha said Ranallo allegedly used the funds he received to purchase a condominium, vehicles, and to pay personal expenses. Categories: News, Rhode Island