The SEC has dropped Oscar Garcia from its ongoing Batched investigation.

As per an October 2024 Wells Release BehindMLM has reviewed…

…the SEC informed Garcia (right) it had “concluded the investigation as to you”.

Based on the information we have as of this date, we do not intend to recommend an enforcement action by the Commissioner against you.

Citing “the final paragraph of Securities Act Release No. 5310”, the SEC advises;

[This] notice “must in no way be construed as indicating that the party has been exonerated or that no action may ultimately result from the staff’s investigation”.

Batched was part of a short-lived reboot of the Uulala fraudulent investment scheme. Uulala rebooted with a crypto node investment scheme after Garcia settled Uulala fraud charges with the SEC in 2021.

In January 2023 Garcia blamed Batched co-founder Frank DiCrisi (right), for Uulala and Batched’s collapse.

Through court filings, Garcia disclosed an SEC investigation into Batched in late 2022.

As part of Uulala’s and Batched’s node investment scheme collapse, DiCrisi sold Batched to Savvy Wallet.

DiCrisi and his Savvy Wallet business partner Gregory Baum, are believed to have laundered Traders Domain Ponzi funds through Savvy Wallet.

In a separate California lawsuit filed against DiCrisi and Baum, Garcia alleges Traders Domain money laundering began as far back as Batched.

The CFTC filed fraud charges against The Traders Domain in October 2024. Neither DiCrisi or Baum are named defendants in the CFTC’s Complaint.

As of May 2023, Batched investors were being funneled into Micah Theard’s collapsed CashFlow NFT Ponzi scheme.

After Batched Garcia would go on to provide financial services for the collapsed NextGen Ponzi scheme.

In correspondence with BehindMLM, Garcia represents he’s fully cooperated with the SEC in their Batched investigation.

With Garcia now out of the picture as of October 2024 though, the status of the SEC’s Batched investigation is unknown.

Garcia states DiCrisi and Baum have been “non-responsive” in his California suit for two months. Garcia puts this down to DiCrisi and Baum being “busy with other cases now”.