Piccolo v. Vista Network civil lawsuit confidentially settled
An ongoing legal dispute between Ponzi scammers Armen Temurian and Phillip Piccolo has been settled.
As per a March 24th filing;
Plaintiffs/counter-defendants Phillip A. Piccolo Jr., Kevin Dalton Johnson, Paul Morris Joseph Reid and K.F.I Software and Defendants/counter-plaintiffs, Armen Temurian, Vista Technologies LLC and Vista Network LLC, hereby give notice to the Court of the following:
The parties have entered into a confidential Settlement Agreement that fully resolves the claims/counterclaims asserted in this lawsuit.
Given the confidential nature of the settlement I can’t confirm, but I certainly suspect the CFTC suing Vista Network and Termurian last month was a contributing factor.
As per the CFTC, Vista Network was a $7 million dollar Ponzi scheme. This is in line with BehindMLM’s 2018 Vista Network review.
Temurian’s initial lawsuit was filed back in 2018. While they haven’t been charged by the CFTC, Temurian’s lawsuit places Piccolo, Johnson and Reid (the PJM Defendants), within close operational proximity of the Ponzi scheme.
Once the PJM Defendants gained access to Vista’s confidential trade secret documents and cryptocurrency accounts under the pretense that they were acting as software developers, they surreptitiously set out to defraud Vista, misappropriate its trade secrets, and steal its assets.
Temurian claimse the PJM Defendants stole “nearly $700,000” in cryptocurrency that had been invested into Vista Network.
Then they used the software Vista hired them to build in order to create fake commissions on Vista product sales.
Finally, the PJM Defendants deleted shipping orders for over $10,000.00 in Vista products, shipped Vista products to unknown entities, and cancelled other orders in order to take customer payments as their own.
Following their misappropriation, fraud, and theft, the PJM Defendants then disabled Plaintiffs’ software access, leaving Vista without the ability to use its own confidential and proprietary information, or to reach its customer base.
Those proceedings pertain to the confidential settlement reached. It’s also worth noting said proceedings were stayed in October 2022, after Phillip Piccolo (right) filed for bankruptcy.
The March 24th Joint Notice of Settlement filing suggests the parties will move to dismiss the case sometime after June 1st, 2023. I’ll leave an update below when that happens.
Update 2nd June 2023 – The parties moved to dismiss the case on May 25th.
Update 2nd July 2023 – The court issued a Final Order of Dismissal on June 2nd. This brings BehindMLM’s coverage of Piccolo v. Vista Network to a close.