Bryan Lee charged & arrested for Mike G Deal investment fraud
A third individual has been charged in connection to the “Mike G Deal” investment scheme.
Bryan Lee was indicted under seal on May 15th. Sometime between May 16th and May 19th Lee was arrested, leading to the unsealing of the indictment on May 18th.
Lee’s indictment pegs him as the money guy behind Neil Suresh Chandran’s (right) ViRSE scheme.
Defendant NEIL SURESH CHANDRAN … held himself out as the owner of a group of companies operated under the banner
of ViRSE, which purported to develop virtual-world technologies, including its own cryptocurrency, for use in its metaverse.These companies included, but are not limited to, Free Vi Lab; Studio Vi, Inc.; ViDelivery, Inc.; ViMarket, Inc. (“ViMarket”); and Skalex USA Inc.
Defendant BRYAN LEE … was the signatory on bank accounts for ViMarket, and the nominee owner/sole director and officer of ViMarket.
LEE took direction from CHANDRAN on how to disburse funds sent to ViMarket bank accounts. LEE also unilaterally disbursed and spent funds from the ViMarket accounts.
ViRSE (aka CoinDeal) is part of what we know as the Mike G Deal. This is due to promotion by serial MLM conman Michael Glaspie (right).
Glaspie has also been indicted. He plead guilty to one count of wire fraud and is scheduled to be sentenced on June 15th.
For his efforts in laundering proceeds of the Mike G Deal, Bryan Lee has been charged with
- conspiracy to commit mail and wire fraud;
- two counts of mail fraud;
- three counts of wire fraud; and
- three counts of engaging in monetary transactions in property derived from specified unlawful activity;
If convicted on all counts, Lee, 57, faces a potential 150 year prison sentence.
Forfeiture of the ~$45 million stolen through the Mike G Deal is also being sought.
Update 17th June 2023 – Bryan Lee pled not guilty on June 8th.
Glaspie’s sentencing was rescheduled to August 1st on May 22nd. The hold up appears to be multiple presentencing reports filed by the probation office.
These reports aren’t public so I can’t speak as to why there are multiple reports.
Short for words.
Mike Glaspie (Mike G) doesn’t have enough years left to serve the time that he deserves.
All the others need to be included for their part in taking many of all the members money in The Deal.
Those who made a profit from collecting members funds and then using a lot of it for their own personal use should be indicted, I see no reason why they should not face the consequences of their part in this sorry mess.
The members deserve JUSTICE from them all and restitution. For how many that may be found guilty they deserve to go to jail.
Did any of them show US mercy when they took our money and lied day after day.
NO they did not, they sat there enjoying the money they stole, so why should anyone of us feel they should not get their just deserts.
I lost $8,000 from this, via Mike G. and Linda K. Is Linda Knott guilty too? She acts like she is a victim, but the SEC says she is not.
Mike G. will go to prison, but where does that leave us victims? I’ll turn 67 next week and I’m nowhere close to retirement as a result of this.
There hasn’t been any talk of victim claims. I’d suggest you set yourself up so you’re not relying on getting anything back from the Mike G Deal.
Restitution, if any, could be years off.
Since Mike G. has already pled guilty, it seems the Mike G. victims have a quicker chance of getting something back. But with the USDOJ, who knows…
It’s all the same scam ($40 something million). Mike G’s restitution is $5 million. There might be additional once the SEC’s case against him is settled.
The big money will come via resolution of the case against Chandran. That’s the case you’re watching as a victim.
Article updated with Bryan Lee’s not guilty plea and Glaspie’s sentencing status.
Expect we’ll have news on Monday.
edit: I just checked the MikeG Deal reddit and there’s a post from 11 days ago quoting a continuance to August 1st.
reddit.com/r/MikeGDeal/comments/1420or0/mike_gs_sentencing_date_rescheduled_to_august_1st/
This made me go and recheck the dockets and sure enough on May 22nd a continuance was ordered (one sentence towards the end of a text order).
The issue seems to be presentence reports from the probation office. They filed their initial presentence report, a revised report was filed at some point and now a second revised report has been ordered filed by June 30th.
Unfortunately these reports aren’t public so I can’t comment beyond that.
I missed the continuance so that’s on me. In any event, we’re now waiting till August 1st for Glaspie’s sentencing.