Joshua David Nicholas has copped a $300,026 judgment within the SEC’s EmpiresX civil fraud case.
As per an April nineteenth order approving Nicholas’ Consent Judgment;
Defendant is accountable for disgorgement of $289,000, representing web earnings gained on account of the conduct alleged within the Grievance, along with prejudgment curiosity thereon within the quantity of $11,026, for a complete of $300,026.
Nicholas’ judgement is deemed glad by his felony case restitution order. That order, entered final month, sees Nicholas up for $3.3 million in restitution.
As on the time the order was issued, Nicholas had paid again $312,246 – I consider that’s the quantity that satisfies judgment within the SEC case.
In accordance with the DOJ, EmpiresX was a ~$100 million Ponzi scheme.
The ruse behind EmpiresX was automated buying and selling. To that finish Nicholas performed “Joshua Greg”, EmpiresX’s “Grasp Dealer”.
Along with restitution, Nicholas was sentenced to 51 months in jail final November.
The SEC secures Entry of Defaults towards EmpiresX co-founders Emerson Pires and Flavio Goncalves on April twentieth. The regulator has been directed to file Motions for Default Judgment by Could 4th.
Pires and Flavio had been indicted on parallel felony fees in July 2022.
The pair fled the US for Brazil upon studying they had been below investigation. Pires and Goncalves stay needed fugitives at massive.