Marcus Brisco has settled with the SAEG Ponzi Receiver for $400,000. The CFTC filed suit against Brisco in January 2023 over his participation in the collapsed SAEG Ponzi scheme. As part of the CFTC’s lawsuit, a Receiver was appointed to “recover assets for the benefit of [SAEG] victims”. On October 7th, a settlement between Brisco and the SAEG Receiver was filed. As per the terms of the settlement, which includes Brisco’s company Rolly Receipts;

The Receiver shall be entitled to take possession of and for the receivership estate the sum of Four Hundred Thousand Dollars ($400,000)(the “Settlement Amount”) from the assets of Brisco and/or affiliates or subsidiaries he owns or controls.

Cites assets of Brisco’s include:

  • funds in a Chase Bank account;
  • funds in an E*Trade account;
  • funds in a Third Bank account;
  • funds in a Bank of Hawaii account;
  • $33,000 held by Rolly Receipts, tied to the SAEG Ponzi scheme; and
  • $196,065 in equity in Brisco’s Muai, Hawaii house pending sale thereof

The SAEG Receiver signed off on the settlement on September 17th. Brisco signed off on October 9th and the court approved the settlement on October 16th.

While Brisco has now settled with the SAEG Receiver, the case filed against him by the CFTC still needs to be resolved. SAEG Ponzi co-defendants Mike Sims and Francisco Story have settled with the CFTC for $250,000 and $125,000 respectively.

SAEG Ponzi ringleaders Tin Quoc Tran and Ted Safranko copped $512 million and $3.8 million respective default judgments.

Sims and Safranko were also recently named defendants in The Traders Domain charges filed by the CFTC.

The SAEG and The Traders Domain Ponzi schemes are tied together through Sims and Safranko’s involvement in both.

OmegaPro, a collapsed MLM crypto Ponzi, fed into The Traders Domain. Sims is an OmegaPro co-founder.

Sims is believed to still be in the US. Safranko, a Canadian national, has gone into hiding. As noted by the SAEG Receiver in an October 1st Fifth Status Report;

The Receiver attempted to personally serve Safranko with a subpoena to appear for an asset deposition, but Safranko could not be found. Although Safranko was served with the Complaint and the SRO, he has not complied with his obligations under the SRO to turn over assets, records, and information to the Receiver. To date the Receiver has not obtained any new information regarding the whereabouts of Safranko or Safranko’ s assets.

To date US authorities have only filed civil fraud charges in relation to SAEG and The Traders Domain.

 

Update 6th December 2024 – Marcus Brisco has also settled with the CFTC for $2 million.