EmpiresX @ BehindMLM

Joshua David Nicholas has been ordered to pay $3.3 million in restitution. The order follows Nicholas pleading guilty to one count of conspiracy to commit wire fraud last September. That plea led to a 51 month prison sentence, handed down a few months later in November.

Default judgment has been granted against EmpiresX founders Emerson Pires and Flavio Goncalves. Respective orders against the two scammers, both of whom have fled to Brazil, were filed on December 7th.

EmpiresX scammer Joshua David Nicholas has been sentenced to 51 months in prison. Nicholas’ sentence was handed down after 45 minute sentencing hearing, held on November 28th.

Both the SEC’s and CFTC’s civil cases against EmpiresX and its owners have been administratively stayed.

The DOJ has made reference to restitution for investors of the EmpiresX Ponzi scheme. While it’s not much, I believe it’s the first we’ve seen restitution mentioned in EmpiresX fraud proceedings.

Joshua David Nicholas has plead guilty to one count of conspiracy to commit securities fraud. Nicholas played “Master Trader” in EmpiresX, through the misappropriated alias “Joshua Gregg”.

Joshua David Nicholas has settled with the civil EmpiresX class-action. Nicholas’ settlement follows “money of arms-length mediation” between the parties.

The SEC has filed a motion requesting permission to allow alternative service on the Mining Capital Coin defendants.

Two EmpiresX victims have filed a civil class-action in Florida. That’s on top of the CFTC’s and SEC’s civil regulatory lawsuits against EmpiresX. What’s interesting is the Florida state court hearing the class-action has appointed an EmpiresX Receiver.

The CFTC has initiated Hague Convention service on EmpiresX scammers Emerson Pires and Flavio Goncalves. Pires and Goncalves co-founded the EmpiresX Ponzi scheme.