Marcus Brisco has settled with the SAEG Ponzi Receiver for $400,000.
The CFTC filed go well with towards Brisco in January 2023 over his participation within the collapsed SAEG Ponzi scheme.
As a part of the CFTC’s lawsuit, a Receiver was appointed to “recuperate belongings for the good thing about [SAEG] victims”.
On October seventh, a settlement between Brisco and the SAEG Receiver was filed.
As per the phrases of the settlement, which incorporates Brisco’s firm Rolly Receipts;
The Receiver shall be entitled to take possession of and for the receivership property the sum of 4 Hundred Thousand {Dollars} ($400,000)(the “Settlement Quantity”) from the belongings of Brisco and/or associates or subsidiaries he owns or controls.
Cites belongings of Brisco’s embody:
- funds in a Chase Checking account;
- funds in an E*Commerce account;
- funds in a Third Checking account;
- funds in a Financial institution of Hawaii account;
- $33,000 held by Rolly Receipts, tied to the SAEG Ponzi scheme; and
- $196,065 in fairness in Brisco’s Muai, Hawaii home pending sale thereof
The SAEG Receiver signed off on the settlement on September seventeenth. Brisco signed off on October ninth and the court docket authorized the settlement on October sixteenth.
Whereas Brisco has now settled with the SAEG Receiver, the case filed towards him by the CFTC nonetheless must be resolved.
SAEG Ponzi co-defendants Mike Sims and Francisco Story have settled with the CFTC for $250 and $125,000 respectively.
SAEG Ponzi ringleaders Tin Quoc Tran and Ted Safranko copped $512 million and $3.8 million respective default judgments.
Sims and Safranko had been additionally lately named defendants in The Merchants Area expenses filed by the CFTC.
The SAEG and The Merchants Area Ponzi schemes are tied collectively by way of Sims and Safranko’s involvement in each.
OmegaPro, a collapsed MLM crypto Ponzi, fed into The Merchants Area. Sims is an OmegaPro co-founder.
Sims is believed to nonetheless be within the US. Safranko, a Canadian nationwide, has gone into hiding.
As famous by the SAEG Receiver in an October 1st Fifth Standing Report;
The Receiver tried to personally serve Safranko with a subpoena to look for an asset deposition, however Safranko couldn’t be discovered.
Though Safranko was served with the Criticism and the SRO, he has not complied together with his obligations underneath the SRO to show over belongings, information, and data to the Receiver.
Up to now the Receiver has not obtained any new data relating to the whereabouts of Safranko or Safranko’ s belongings.
Up to now US authorities have solely filed civil fraud expenses in relation to SAEG and The Merchants Area.