Following a request by the SEC on February 18th, the iPro Community civil trial has been delayed for a fifth time.
As revealed in a subsequent stipulation, this time the delay is attributable to the usage of reward playing cards in iPro Community.
Initially there appeared to be a discovery dispute between the SEC and defendant Daniel Pacheco.
(The SEC’s) place is that, after the shut of reality discovery, Defendant articulated new details relating to the cost of commissions that are related to the claims and defenses on this case and which require extra discovery.
(Daniel Pacheco’s) place is that (the SEC) will not be entitled to take additional discovery and that no new details had been articulated after the shut of discovery.
The events agree that judicial intervention is important to resolve whether or not Plaintiff could take extra discovery.
That was the scenario as described by the SEC of their February 18th trial continuance movement.
On February nineteenth the court docket ordered the trial be continued, paving the best way for the SEC to discover the usage of reward playing cards.
4 days later Pacheco seems to have caved, possible realizing discovery was possible going to be reopened.
On February twenty third the SEC filed one other stipulation, during which it was disclosed;
The SEC and Defendant Daniel Pacheco (collectively, the “Events”) have since additional met and conferred as to the difficulty of reopening discovery.
The Events have come to a compromise by which discovery shall be reopened for the restricted function of taking discovery as to the usage of reward playing cards within the IPro program.
On February twenty fourth the court docket reopened discovery, permitting the SEC to hunt the data they’re after.
Discovery shall be reopened for the aim of taking discovery as to the usage of reward playing cards within the IPro program.
Present playing cards suggests the SEC could be probing cash laundering inside iPro Community.
That in flip may result in felony prices from the DOJ – however with out additional particulars that’s solely hypothesis.
What we do know is the SEC intends to depose iPro Community’s “accounting skilled”
about opinions disclosed on or after February 23, 2020, relating to IPro’s use of reward playing cards.
For now discovery has been reopened, and the SEC has till June eighth to file any subsequent discovery associated motions.
The SEC v. iPro Community civil trial is now scheduled for November ninth, 2021.
Replace fifth October 2021 – The iPro Community trial has been delayed for a sixth time.
A new trial date has been scheduled for March 2022.