EmpiresX @ BehindMLM

In March 2024 the CFTC secured a $64.3 million settlement against EmpiresX’s parent company Empires X Consulting. I figured that was the end of the case and left it there. Turns out additional judgments against the individuals behind EmpiresX were pending.

Mining Capital Coin’ Luiz Carlos Capuci is in a bit of a pickle. Due to parallel criminal proceedings kicking off in Brazil, Capuci claims he is unable to pay US lawyers representing him in an SEC fraud case.

EmpiresX, currently under Receivership as Empires Consulting, has settled commodities fraud charges with the CFTC. The proposed settlement against Empirex details a permanent injunction and $32.1 million civil monetary penalty.

Brazil’s Federal Police (PF) launched Operation Yang on September 13th. The enforcement action follows a criminal investigation, which began last year in August. Details in a a press-release issued by the Federal Police suggest they are targeting Mining Capital Coin.

Emerson Pires and Flavio Goncalves, co-founders of the EmpiresX Ponzi scheme, have copped a $45.8 million judgment in their SEC fraud case.

The SEC and EmpiresX have reached a $34.8 million settlement. The reached settlement consists of $32,178,397 in disgorgement and $2,661,554 in prejudgment interest.

The Receiver representing EmpiresX in Florida, has submitted a proposed settlement to the SEC. The settlement is before the SEC’s Commissioners, who typically take 6 to 8 weeks to accept or reject.

EmpiresX’s Joshua Nicholas has asserted “NovaTech FX has recently been brought to justice”. The claim, which BehindMLM has not been able to verify, was made in an April 11th court filing.

Joshua David Nicholas has copped a $300,026 judgment in the SEC’s EmpiresX civil fraud case. As per an April 19th order approving Nicholas’ Consent Judgment;

The SEC’s EmpiresX civil fraud case has been reopened. Last October both the SEC’s and CFTC’s parallel EmpiresX civil proceedings were stayed, pending Hague service on co-founder defendants Emerson Pires and Flavio Goncalves.