Marcus Todd Brisco, a resident of Hawaii has settled SAEG fraud expenses with the CFTC.
SAEG was a Ponzi scheme tied to The Merchants Area, by means of which various MLM Ponzi schemes, amongst them OmegaPro, are believed to have been funneled into.
Brisco, working with co-defendant Michael Shannon Sims, helped launder SAEG invested funds by means of Yas Castellum associated shell firms.
The CFTC sued Brisco and a number of other defendants in January 2023, alleging a number of Commodities Act violations.
As per a Consent Order authorised by the courtroom on November twenty second, Brisco is topic to a everlasting injunction prohibiting
- additional Commodities Act violations; and
- him having something to do with registered buying and selling or “commodity pursuits”.
On the cash facet of issues, Brisco is topic to a $350,000 civil financial penalty and $1.65 million in restitution.
Brisco beforehand consented to a $400,000 settlement with a court-appointed SAEG Receiver. This quantity will likely be credited in direction of his CFTC settlement.
After the SAEG Ponzi collapsed, Brisco pivoted from commodities fraud to “saving the turtles”.
Brisco seems to have used ill-gotten beneficial properties derived from SAEG to launch Rolly Receipts.
Rolly Receipts LLC is a USA primarily based firm that’s revolutionizing enterprise provides. Our mission is to empower our prospects to attenuate their eco-footprint with out sacrificing the merchandise the depend on.
Not solely do we offer the one most eco-friendly receipt available on the market and provide an eco-friendly various to plastic clam shell bakery packaging. However we additionally plant a tree with every case bought.
It’s unclear whether or not Brisco’s SAEG settlement will have an effect on Rolly Receipts’ enterprise operations.
SAEG Ponzi ringleader Tin Quoc Tran was topic to a $512 million default judgment in August.
Moreover, Mike Sims and and Francisco Story have additionally settled for $250,000 and $125,000 respectively.
The CFTC individually filed go well with in opposition to The Merchants Area in October 2024. The Merchants Area founder Ted Safranko (proper), a Canadian nationwide, has gone into hiding.
The Merchants Area is of explicit curiosity on account of participation by a big group of well-known MLM trade veterans.
OmegaPro CEO Andreas Szakacs was arrested in Turkey again in June. The specifics of Szakacs’ felony expenses have but to be made public.