FBI Veteran Joseph Bonavolonta Joins Wrap with 27 Years of Experience, Former SAC of Boston Field Office

Rhea-AI Summary

Wrap Technologies (NASDAQ: WRAP) has appointed Joseph R. Bonavolonta as Domestic Head of Managed Services, bringing 27 years of FBI experience to the company. Bonavolonta, former Special Agent in Charge of the FBI's Boston Field Office, will assist in driving growth and expanding Wrap's global law enforcement network.

His extensive background includes overseeing high-profile criminal and national security investigations, managing Joint Terrorism Task Forces, and directing the New England Region's Domestic Director of National Intelligence Program. Prior to joining Wrap, he served as Managing Partner at a global security firm.

This strategic appointment follows Wrap's recent W1 Global, acquisition and complements the expertise of James DeStefano, a retired FBI executive. The combined experience is expected to enhance Wrap's delivery of technology security solutions to law enforcement agencies, commercial clients, and high-net-worth individuals globally.

Positive

• Strategic hire brings 27 years of FBI expertise to strengthen global law enforcement network
• Enhances company's security and compliance capabilities across multiple sectors
• Complements recent W1 Global acquisition, expanding service offerings
• Brings extensive high-level law enforcement connections and partnerships

Negative

• None.

Expected to Strengthen Global Law Enforcement Network, Enhancing Security and Compliance Capabilities Across Business Intelligence, Critical Infrastructure, Supply Chain and National Security

MIAMI, March 20, 2025 (GLOBE NEWSWIRE) -- Wrap Technologies, Inc. (NASDAQ: WRAP) (“Wrap” or, the “Company”) today announced the appointment of Joseph R. Bonavolonta as Domestic Head of Managed Services of the Company, bringing over 27 years of experience from the Federal Bureau of Investigation (“FBI”) to the Company’s management team.

Mr. Bonavolonta, who culminated his distinguished FBI career as Special Agent in Charge (SAC) of the Boston Field Office, led one of the agency’s largest divisions, overseeing high-profile criminal and national security investigations. His leadership extended to managing Joint Terrorism Task Forces, Safe Streets Gang and Violent Crime Task Forces, and directing the New England Region’s Domestic Director of National Intelligence (DDNI) Program.

In his new role, Mr. Bonavolonta is expected to assist the Company in driving growth while further deepening Wrap’s global law enforcement network. His extensive expertise in national security, compliance and risk management, combined with Wrap’s growing investigative technology partners, will enhance the Company’s mission to provide innovative, non-lethal solutions for public safety worldwide.

Prior to joining Wrap, Mr. Bonavolonta served as Managing Partner at a global security firm, where he provided strategic security solutions for multinational corporations, critical institutions, and high-net-worth individuals. His deep knowledge of technologies used in risk and vulnerability assessments, insider threats, cybersecurity and physical security strategies makes him an invaluable asset to Wrap’s growing Managed Services Branch.

“We are committed to bringing together elite-level talent and cutting-edge technology to solve the most pressing security challenges of today and the future,” said Bill McMurry, Chief Executive Officer of Managed Services at WRAP. “Joseph Bonavolonta’s unmatched expertise will be instrumental in strengthening our Managed Services Branch, reinforcing our role in supporting those who protect us and expanding our capabilities across both public and private sectors.”

Mr. Bonavolonta’s distinguished FBI career also includes leadership roles such as:

• Deputy Assistant Director of the Counterintelligence Division, overseeing domestic and international operations;
• Head of the Boston Field Office’s Cyber and Counterintelligence Branch, tackling nation-state driven espionage and cybersecurity threats; and
• Supervisor of the Complex Financial Crimes Program in the Newark Field Office.
  

His investigative achievements include spearheading international organized crime initiatives in coordination with the Italian National Police, and the dismantling of major criminal networks, including the Bonanno La Cosa Nostra (LCN) Family. His work earned him numerous accolades, including the Attorney General’s Director’s Award for Superior Performance, the Law Enforcement Distinguished Community Service Award, and the National Intelligence Meritorious Unit Citation.

His deep connections within the New England law enforcement community and across federal and international security networks will help solidify Wrap’s relationships globally, strengthening the Company’s impact in law enforcement, security and risk mitigation.

Expanding Expertise with W1 Global and James DeStefano

Mr. Bonavolonta’s addition is expected to further strengthen Wrap’s global security, technology and investigative expertise, complementing the experience brought in through Wrap’s recent W1 Global, LLC acquisition. He joins James DeStefano, a retired FBI executive and former head of the FBI New York Field Office’s Crisis Management Program, who has spent years conducting risk and vulnerability assessments for corporate clients.

Their combined experience is expected to enhance Wrap’s ability to deliver comprehensive technology security solutions to law enforcement agencies, commercial clients and high-net-worth individuals worldwide.

About Wrap Technologies, Inc.
Wrap Technologies, Inc. (Nasdaq: WRAP) is a global leader in public safety solutions, bringing together cutting-edge technology with exceptional people to address the complex, modern day challenges facing public safety organizations.

Wrap’s BolaWrap^® solution is a safer way to gain compliance—without pain. This innovative, patented device deploys light, sound, and a Kevlar^® tether to safely restrain individuals from a distance, giving officers critical time and space to manage non-compliant situations before resorting to higher-force options. The BolaWrap 150 does not shoot, strike, shock, or incapacitate—instead, it helps officers operate lower on the force continuum, reducing the risk of injury to both officers and subjects. Used by over 1,000 agencies across the U.S. and in 60 countries, BolaWrap^® is backed by training certified by the International Association of Directors of Law Enforcement Standards and Training (IADLEST), reinforcing Wrap’s commitment to public safety through cutting-edge technology and expert training.

Wrap Reality™ VR is an advanced, fully immersive training simulator designed to enhance decision-making under pressure. As a comprehensive public safety training platform, it provides first responders with realistic, interactive scenarios that reflect the evolving challenges of modern law enforcement. By offering a growing library of real-world situations, Wrap Reality™ equips officers with the skills and confidence to navigate high stakes encounters effectively, leading to safer outcomes for both responders and the communities they serve.

Wrap’s Intrensic solution is an advanced body-worn camera and evidence management system built for efficiency, security, and transparency. Designed to meet the rigorous demands of modern law enforcement, Intrensic seamlessly captures, stores, and manages digital evidence, ensuring integrity and full chain-of-custody compliance. With automated workflows, secure cloud storage, and intuitive case management tools, it streamlines operations, reduces administrative burden, and enhances courtroom credibility.

Trademark Information
Wrap, the Wrap logo, BolaWrap^®, Wrap Reality™ and Wrap Training Academy are trademarks of Wrap Technologies, Inc., some of which are registered in the U.S. and abroad. All other trade names used herein are either trademarks or registered trademarks of the respective holders.

Cautionary Note on Forward-Looking Statements – Safe Harbor Statement
This release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995. Words such as “expect,” “anticipate,” “should”, “believe”, “target”, “project”, “goals”, “estimate”, “potential”, “predict”, “may”, “will”, “could”, “intend”, and variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Moreover, forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to: the expected benefits of the acquisition of W1 Global, LLC, the Company’s ability to maintain compliance with the Nasdaq Capital Market’s listing standards; the Company’s ability to successfully implement training programs for the use of its products; the Company’s ability to manufacture and produce products for its customers; the Company’s ability to develop sales for its products; the market acceptance of existing and future products; the availability of funding to continue to finance operations; the complexity, expense and time associated with sales to law enforcement and government entities; the lengthy evaluation and sales cycle for the Company’s product solutions; product defects; litigation risks from alleged product-related injuries; risks of government regulations; the business impact of health crises or outbreaks of disease, such as epidemics or pandemics; the impact resulting from geopolitical conflicts and any resulting sanctions; the ability to obtain export licenses for counties outside of the United States; the ability to obtain patents and defend intellectual property against competitors; the impact of competitive products and solutions; and the Company’s ability to maintain and enhance its brand, as well as other risk factors mentioned in the Company’s most recent annual report on Form 10-K, subsequent quarterly reports on Form 10-Q, and other Securities and Exchange Commission filings. These forward-looking statements are made as of the date of this release and were based on current expectations, estimates, forecasts, and projections as well as the beliefs and assumptions of management. Except as required by law, the Company undertakes no duty or obligation to update any forward-looking statements contained in this release as a result of new information, future events or changes in its expectations.

Investor Relations Contact:
(800) 583-2652
ir@wrap.com

A photo accompanying this announcement is available at
https://www.globenewswire.com/NewsRoom/AttachmentNg/183801f3-4937-4aff-b91a-901b9599b322

FAQ

What is Joseph Bonavolonta's new role at Wrap Technologies (WRAP)?

Joseph Bonavolonta has been appointed as Domestic Head of Managed Services at Wrap Technologies, bringing 27 years of FBI experience to strengthen the company's global law enforcement network.

How will Bonavolonta's FBI experience benefit Wrap Technologies (WRAP)?

His expertise in national security, compliance, and risk management, combined with his extensive law enforcement connections, will enhance Wrap's ability to provide innovative security solutions and expand their global presence.

What significant positions did Bonavolonta hold at the FBI before joining WRAP?

He served as Special Agent in Charge of the Boston Field Office, Deputy Assistant Director of the Counterintelligence Division, and Head of the Boston Field Office's Cyber and Counterintelligence Branch.

How does Bonavolonta's appointment align with WRAP's recent strategic moves?

His appointment complements Wrap's recent W1 Global acquisition and joins former FBI executive James DeStefano, strengthening their security and technology solutions capabilities.