OmegaPro co-founder Mike Sims distances himself from Ponzi
In the wake of the OmegaPro Ponzi collapsing, co-founder Mike Sims is attempting to distance himself from the scam.
In recently recorded footage, directed at OmegaPro victims, Sims claims he’s “working right now … to find out what is going on with the company”.
Sims co-founded OmegaPro with Dilawar Singh and Andreas Szakacs in 2019. Investors were pitched on a 200% ROI, paid out over 16 months.
OmegaPro inevitably collapsed in November 2022, resulting in widespread consumer losses.
In his video, Sims goes on to claim he “resigned from the company last year”. Sims doesn’t specify whether this was before or after OmegaPro collapsed.
Regardless, Sims infers that his resignation absolves him of culpability.
There’s a misconception that I was an owner of OmegaPro. That is not true, my role was strategic advisor in OmegaPro.
I don’t know the compensation plan. I don’t know how the business works. I don’t know where the servers are. I don’t know where the money is.
Like I said, laughable.
Sims goes on to claim he hasn’t talked to Sazakacs or Singh “in over nine months”. This timeline puts us at or around February 2023, four months after OmegaPro collapsed.
Sims goes on to claim he’s “going to work to find out what happened” because he’s “super upset”.
It seems like they, if they did something wrong again, I don’t even know. I don’t think they’re that stupid but I don’t even know.
But if they did something wrong, that means they used my name and credibility … to build the business … for them to do something wrong.
Again, I don’t know if they did anything wrong. I don’t know what’s happening. I have no idea.
I’m upset because my name has been associated with this craziness and I want, and I’m going to help everyone figure out what happened, where these guys are and what’s going on, because I don’t like the situation at all. It’s absolutely ridiculous.
That is the truth. That is the facts. I am doing well. I don’t do illegal things.
I am 100% cooperating with any authority that wants to do any investigation, because I do not play these games with my name, with my credibility and with people. I love people, and there is no way I would ever be associated with something that would do harm to people.
The CFTC sued Sims for involvement in the SAEG Capital Ponzi scheme in February 2023. Sims was cited by the CFTC as handling SAEG Capital’s financials.
Another individual involved in SAEG Capital is Ted Safranko. Safranko ran the also collapsed Traders Domain Ponzi scheme, which Sims reportedly stole $84.7 million through.
OmegaPro is suspected of funnelling stolen funds into The Traders Domain, with Sims being the common link between both Ponzi schemes.
How much Sims personally stole through OmegaPro remains unclear.
Sims has previously lied about the CFTC’s fraud charges against him, as well as his assets being frozen.
BehindMLM can’t confirm but we suspect Sims is attempting to build a plausible deniability defense, ahead of pending OmegaPro related fraud charges.