Final judgements entered against Wings Network scammers
Last we checked in on the SEC’s case against Wings Network, parent company Tropikgadget was ordered to pay disgorgement of $25,213,990, prejudgment interest of $961,742, and a third-tier civil penalty of $725,000.
On August 31st a Massachusetts Federal Court entered final judgements against Wings Network management and two top affiliates.
Final judgments were entered against Sergio Henrique Tanaka of Sao Paulo, Brazil and Davie, Florida; Carlos Luis da Silveira Barbosa of Lisbon, Portugal; Claudio de Oliveira Pereira Campos of Lisbon, Portugal; Viviane Amaral Rodrigues of Clinton, Massachusetts; and Wesley Brandao Rodrigues of Marlborough, Massachusetts.
In addition to finding the five defendants in violation of the Securities Exchange Act,
the judgments also order Tanaka to pay a total of $1,944,147, Barbosa to pay a total of $300,284, Campos to pay a total of $150,000, Viviane Rodrigues to pay a total of $462,732, and Wesley Rodrigues to pay a total of $162,404 in disgorgement of ill-gotten gains, prejudgment interest, and a civil penalty.
Earlier this year Simonia de Cassia Silva, a Massachusetts Wings Network affiliate, was ordered to pay back $141,307.86.
The SEC’s complaint against Wings Network was filed in February of 2015. Litigation against the remaining eight affiliate defendants continues.
What happened to the victims of the scam will they get any funds back?
That’s a question for the SEC. Fours on though I don’t like your chances.