Armen Temurian settles Vista Network fraud with CFTC for $69K
Armen Temurian has settled Vista Network commodities fraud charges with the CFTC for $69467.68.
Temurian Vista Network in mid 2017. In response to BehindMLM’s December 2017 Vista Network review, concluding it was a Ponzi scheme, Temurian claimed the review was “very lopsided”.
We are the first company in this space doing it right and practicing good business practices.
We didn’t start perfect sir but we changed things and we made it right and compliant. We are the first to achieve this.
The CFTC filed suit against Temurian and Vista Network in 2023, alleging $7 million dollars in fraud.
Temurian’s Vista Network settlement sees him consent to an injunction and civil monetary penalty.
Termurian’s injunction sees him permanently prohibited from committing further violations of the Commodities Exchange Act.
With respect to the money side of things, Termurian (right) will pay $34,733.84 in restitution and an equal civil monetary penalty.
The restitution amount reflects outstanding Vista Network victim losses;
Although Defendants represented that they eventually refunded the majority of U.S. investors’ funds, at least $34,733.84 of U.S. investor funds have not been returned.
The equal civil monetary penalty amount is due within 180 days of May 1st, 2026 (the date of the court order approving the settlement), failing which post-judgment interest kicks in.
Temurian’s settlement brings BehindMLM’s Vista Network coverage to a close.
Does anyone have any details of any lawsuits against Gladiacoin hawkers, Phil Piccollo ,Kevin Dalton Johnson ,Joe Reid ,Joe Spallino etc. They worked together and brought in investors.
Thank You.
There was some legal action between Termurian and Piccolo but it didn’t go anywhere.
Hey Mr. Oz thank you for the coverage and press release on the matter. I can tell you more about our lawsuit and renentless persuat against Picollo, his clan and how it ended and turned out.
In the matter of the commodities and futures commission, VISTA will do an official press release which I hope you will also carry on your news/ platform agency.
The CFTC and their much respected commission and team of senior attorneys in this unprecedented outcome between the two sides, and in an epic almost 7 year probe and fight done with mutual respect; the CFTC has given VISTA the first and only right to Press Release the outcome and final message.
Standing down on this matter, when it has always been in their position to always have the last word after a matter is either settled or won through the courts, or rightfuly acheived through criminal indictments from the CFTC.
The people who serve at the CFTC are a fine group of men and women and they know when to show respect where it’s deserving and give hell to those where it’s needed. Our press release will outline this message. Feel free to reach out to us if you ever need to.
Once again I want to commend you for your news reporting, i wasnt expecting anyone to be carrying this dissmisal/settlement case outcome. I am impressed with your consistancy and in many and most cases, reporting accuracy on even matters that need years later, followup.
Respectfully
Armen A. Temurian
CEO VISTA
Hi Armen, thanks for the praise. If a case is added to BehindMLM’s calendar I always try to follow it to conclusion.
With respect to precedents, most MLM securities/commodities fraud defendants settle. These are typically very clear-cut cases with copious amounts of documented evidence.
I’m not aware of any MLM securities/commodities fraud defendant prevailing against the SEC/CFTC at trial over the past few decades.
The CFTC is also unable to bring forward criminal indictments.