Serial MLM crypto Ponzi scammer Jeremie Sowerby has been indicted for a 3rd time.
On December twelfth, Sowerby was indicted on fees associated to Dunamis World Applied sciences.
Dunamis World Tech started as Dunamis Mining in 2019. By the tip of the yr Dunamis Mining had been rebranded as Dunamis World Tech.
Dunamis World Tech collapsed in December 2019. Like all of Sowerby’s scams, Dunamis Mining and Dunamis World Tech have been MLM crypto mining themed Ponzi schemes.
Sowerby’s Dunamis indictment frames Dunamis as a restoration Ponzi for victims of his earlier Ponzi schemes.
Dunamis was devised by Sowerby to deal with a big pool of aggrieved victims from the final part of his earlier however separate cryptocurrency Ponzi schemes involving Now Mining, Millennium Applied sciences, and VIP Mining.
Sowerby (proper) was indicted on Now Mining, VIP Mining and Millennium Applied sciences fraud fees in September. He was indicted once more on Softek and Justice Capital fraud fees final month.
Lots of the victims from VIP Mining have been scammed once more into considering that Sowerby may recoup their losses from VIP Mining by means of a completely totally different firm (Dunamis), with one more deceitful scheme to defraud.
At this juncture, Sowerby was the only real mastermind of Dunamis and had a cadre of conspiratorial underlings being compensated exorbitantly for doing and following Sowerby’s deceitful directions and behests.
One in every of Sowerby’s “conspiratorial underlings” was Joe Abel, offered as founding father of Dunamis World Tech.
Abel would go on to be individually indicted for his function within the BitClub Community Ponzi scheme in 2020.
Not surprisingly, BitClub Community was additionally an MLM crypto mining themed Ponzi scheme.
Coming in at $722 million in client losses although, BitClub Community far surpassed any of Sowerby’s scams.
Abel pled responsible to BitClub Community fraud fees in September 2020. He’s scheduled to be sentenced in March 2024.
To dupe previous and new victims to put money into Dunamis, Sowerby preyed upon a lot of his victims as if he was some “Biblical” or “scriptural” Noah, constructing a monetary lifeboat, or Ark, in his phrases, to assist victims get better their latest funding losses in Sowerby’s earlier schemes.
Sowerby used these misleading and engaging spiritual pitches to inveigle susceptible victims to threat much more to get better their earlier losses.
As a substitute of paying buyers crypto mining income as marketed, Sowerby
continued to maneuver funds into personal financial institution accounts he managed himself or by means of others, and used the defrauded funds to take care of his lavish way of life.
All in all by means of Dunamis Mining and Dunamis World Tech, Sowerby scammed “roughly 150 victims” out of “a number of million in losses”.
Sufferer-investors by no means actually generated or acquired any income from this fraudulent scheme, and victims have been by no means given any significant entry to liquidate any professed earnings or their unique “funding”.
Sowerby’s Dunamis indictment accommodates thirty-seven counts of wire fraud and twelve counts of transactional cash laundering. Forfeiture of Sowerby’s ill-gotten beneficial properties can be being sought.
Sentencing tips vary as much as twenty years per wire fraud and transactional cash laundering rely.
In his Dunamis indictment alone, Sowerby faces a 1000 yr sentence (to be served as a single concurrent sentence of as much as twenty years).
Having beforehand been arrested, Sowerby stays in custody.
Introduced at his third arraignment on December 14th, Sowerby pled not responsible to all fees. A Detention Listening to has been scheduled for December nineteenth.
Past that, a preliminary prison trial has been scheduled for February thirteenth. I think this will probably be pushed again in some unspecified time in the future.