MLM Ponzi scammer Ryan Ginster appears to have killed himself in prison.

Following a guilty plea entered in December 2022, Ginster, 36, was sentenced to 27 months in prison.

In parallel civil proceedings, the SEC sued Ginster in late 2021. The federal regulator alleged that, through his My Micro Profits and Social Profimatic Ponzi schemes, Ginster stole over $3.6 million from consumers.

Ginster’s SEC case resumed after he was sentenced. As per Ginster’s SEC case docket, a notice of his death was filed on January 8th, 2024.

As per an exhibited certificate of death, Ginster (right), died on December 9th, 2023. The certificate notes a cause of death was pending as of December 13th.

Further research reveals Ginster’s death was recorded by the News-Register on December 15th.

An inmate at the Federal Correctional Institution-Sheridan facility’s satellite camp, adjacent to the main prison complex, was found unresponsive and pronounced dead a short time later on Saturday, Dec. 9, according to an FCI spokesperson.

Responding employees initiated life-saving measures after Ginster was located, and Sheridan Fire District medical personnel continued CPR.

A cause of death was not released by the prison out of privacy, safety and security reasons, according to the spokesperson.

No employees or other incarcerated individuals were impacted by the incident.

Reading between the lines, it appears Ginster took his own life.

An obituary for Ginster was published on January 5th, 2024. It notes Ginster was “a genius with computers and technology”.

Ginster’s death brings SEC proceedings against him to a close. That said, on January 9th Judge Scarsi entered an order stating;

The statement of death alone is ineffective to trigger the deadline to file a motion to substitute Defendant.

The SEC has been directed to confer with Ginster’s attorney and file a Joint Status Report within fourteen days (January 23rd).

 

Update 26th January 2024 – The SEC and Ginster’s attorney met and conferred on January 18th.

Ginster didn’t leave a will, complicating the SEC’s case against him. As such, the SEC attorneys handling the case have referred it to SEC Commissioners for a decision on what to do.

Pending a decision, the SEC will inform the court within 72 hours.

 

Update 21st May 2024 – The SEC filed a motion requesting voluntary dismissal against Ryan Ginster. The court approved the SEC’s motion on April 22nd.

In addition to dismissing Ginster, the court’s motion directs the court clerk to close the case.

This brings BehindMLM’s coverage of SEC proceedings against Ginster to a close.