The SAEG Receiver has accepted 211 victim claims totalling $57,715,542.

Of the accepted claims, 160 were for the amount submitted. 51 claims have been accepted with a reduced claim amount totalling $13.2 million.

In a July 18th filed Claims Report, the SAEG Receiver explained reasons for the reduced or 48 denied claims.

These include claimants

  • not deducting money stolen through SAEG against their claim;
  • claiming what they invested plus fictional returns they were promised;
  • failing to substantiate claims with documentation;
  • filing claims against non-defendants’;
  • trying to claim bank fees; and
  • making mathematical errors

The SAEG Receiver has recommended the court approve the Receiver’s claims processing. Claimants will be able to challenge the SAEG Receiver’s finding after receiving a copy of the Claims Report.

SAEG was part of a sprawling Ponzi scheme that had connections to OmegaPro and The Traders Domain.

The CFTC filed suit against SAEG in February 2023. Neither OmegaPro or The Traders Domain are explicitly part of the CFTC’s case.

Named individual defendants in the CFTC’s SAEG case are Marcus Todd Brisco, Tin Quoc Tran, Francisco Story, Frederick Safranko (aka Ted Safranko) and Michael Shannon Sims (aka Mike Sims).

Multiple defendants in the CFTC’s case have ties across SAEG, The Traders Domain and OmegaPro.