SAEG Ponzi scheme & Ted Safranko cop $3.8 mill judgment
The CFTC has secured default judgment against SAEG Capital General Management and Fredirick Safranko.
Following Entry of Defaults recorded against both SAEG and Safranko, default judgment was ordered on September 5th.
As per the CFTC’s January 2023 Complaint, SAEG was a $145 million Ponzi scheme.
Safranko (right) was co-owner of SAEG, along with co-defendants Tin Quoc Tran and Francisco Story.
Both SAEG and Safranko have failed to respond or defend the CFTC’s allegations.
As per their respective default judgments, a permanent injunction has been granted prohibiting further violations of the US Code.
SAEG and Safranko are also permanently prohibited from trading or having anything to do with commodities interests.
On the money side of things SAEG and Safranko are jointly liable for a $3,861,252 civil penalty. There is no forfeiture component to the default judgment orders.
Safranko, a Canadian national, is believed to have gone underground.
This appears to be anticipation of criminal and civil charges being filed, in relation to Safranko’s much larger The Trader’s Domain Ponzi scheme.