A federal grand jury in Puerto Rico indicted Gian C. Piovanetti on July 2, 2026, on charges of bank fund embezzlement, conspiracy to commit money laundering, and money laundering, the U.S. Department of Justice said. Piovanetti, a former private equity fund manager, was arrested in connection with the indictment.
The alleged scheme involved millions of dollars taken from a private equity fund, according to the Justice Department. The case is being prosecuted in San Juan.