Particulars of Jonathan Sifuentes Saucedo’s My Dealer Coin securities fraud settlement have been made public.
As per an August 18th submitting, Sifuentes admitted to securities fraud and pays $85,000 in penalties.
As per Sifuentes’ signed securities fraud settlement;
Sifuentes bought unregistered securities in ten transactions for a complete of $121,500.
Sifuentes made materials representations and omissions when promoting these investments, together with promising returns of over 300% in 300 days whereas failing to reveal the danger of investing in a multilevel advertising enterprise, failing to reveal the dangers related to cryptocurrency investments, and failing to reveal that earlier buyers had not been in a position to withdraw principal as promised.
BehindMLM reviewed and recognized My Dealer Coin as a Ponzi scheme in 2017.
Sifuentes’ My Dealer Coin settlement will see him pay $70,000 in restitution and a $15,000 civil penalty.
These quantities take into accounts $51,500 paid out to the shoppers Sifuentes’ defrauded.
Sifuentes can also be additional prohibited from committing further violations of Arizona’s Securities Act.
The ACC held a listening to on September seventh to debate approval of Sifuentes’ settlement. As of but there’s no affirmation of approval.
Sifuentes is already and continues to violate this clause of his MTC settlement, through operation of the Decentra Ponzi scheme.
Decentra is a reboot of Sifuentes’ collapsed Xifra Life-style Ponzi scheme. Each Ponzi schemes primarily goal shoppers in Central and South America.
Xifra Life-style and Decentra buyers are pitched on 200% returns, paid out of subsequently invested funds.
As with My Dealer Coin, neither Xifra Life-style or Decentra are registered with monetary regulators.
Decentra’s launch coincided with Sifuentes fleeing to Dubai, following his arrest in Mexico earlier this yr.
Of observe is Sifuentes’, a Mexican citizen, signing and notarizing his MTC settlement in July in Guadalajara.
Guadalajara is the capital metropolis of Jalisco, a state in Mexico’s west.
In August Decentra held a advertising marketing campaign throughout south America, with the intention of additional defrauding shoppers.
Whether or not Sifuentes was in Mexico as a part of these efforts or in any other case is unclear.
In any occasion, Decentra’s August promotional efforts don’t seem to have had a lot impact:
As tracked by SimilarWeb, visitors to Decentra’s web site is down throughout the board. The one notable sources of visitors are Martinique (93%) and Taiwan (7%).