Ramil Ventura Palafox, founder of the PGI Global Ponzi scheme, has pled guilty to two counts of fraud.

Palafox’s plea agreement was filed on September 16th and received court approval the same day.

Palafox (right) has pled guilty to one count of wire fraud and one count of concealment money laundering.

The defendant will plead guilty because the defendant is in fact guilty of the charged
offenses.

The defendant admits the facts set forth in the Statement of Facts ifled with this Plea
Agreement and agrees that those facts establish guilt of the offenses charged beyond a reasonable
doubt.

The twelve-page Statement of Facts primarily recounts allegations made against Palafox in his indictment.

Both counts Palafox has pled guilty to carry a maximum sentence of twenty years in prison, monetary fines, restitution and forfeiture.

To that end a consent order of forfeiture, detailing various assets Palafox will forfeit, was filed on September 16th.

Assets Palafox will forfeit as per the order are listed as follows:

  • $201.7 million, represented to be the investor funds Palafox misappropriated through PGI Global;
  • $8950, representing a 2001 BMW M3;
  • $4200, representing a 2013 Tesla Model S;
  • $4350, representing a 2014 Audi A4;
  • $15,600, representing a 2014 BMW 750LX;
  • $721,000, representing a 2014 Ferrari 458 Special;
  • $5950, representing a 2014 Subaru Impreza;
  • a 2015 Mercedes-Benz S550;
  • $105,000, representing a 2016 Bentley Continental;
  • $363,000, representing a 2016 Lamborghini Aventador;
  • $117,000, representing a 2016 Rolls-Royce Ghost;
  • $158,000, representing a 2019 Porsche 911;
  • $260,000, representing a 2020 McLaren 720 S;
  • a 2020 Mercedes-Benz G;
  • a 2016 Tesla Model X;
  • $265,000, representing a 2020 Lamborghini Huracan;
  • $66,500, representing a 2020 Porsche Taycan Turbo;
  • $72,000, representing a 2021 Land Rover;
  • $56,141.90, held in a PNC Bank account;
  • $41,168.17, held in a Cathay Bank account;
  • $45,092.27, held in a MUFG Union Bank account;
  • $720,458.50, held in a Lexicon Bank account;
  • $36,293.36, held in a Lexicon Bank account;
  • $5,332.93, held in a JP Morgan Bank account;
  • $26,013.05, held in a JP Morgan Bank account;
  • $196,711 in seized cash;
  • various luxury bags, wallets and watches;
  • a real-estate property in Las Vegas, Nevada;
  • $15,989 paid to Titan Stairs, Inc.; and
  • the “praetorsglobal.com” website domain

Palafox’s guilty plea pegs PGI Global investor losses at “at least $62,692,007”. Palafox’s sentencing has been scheduled for February 3rd, 2026.