On July twenty seventh the Securities Division knowledgeable the Arizona Company Fee that
Jonathan Sifuentes Saucedo has agreed to a proposed Order to Stop and Desist, Order for Restitution, Order for Administrative Penalties and Consent to Similar.
In doing so, Sifuentes will settle My Dealer Coin securities fraud fees introduced towards him.
For now, the aim of the Securities Division’s movement was to vacate Sifuentes’ scheduled August twenty third trial.
The courtroom granted the Securities Division’s movement on July twenty eighth.
Sadly whereas we all know Sifuentes has settled the securities fraud fees, we’ll have to attend until September for specifics.
This proposed order shall be introduced for approval by the Fee on the Open Assembly scheduled for September 7, 2022.
My Dealer Coin was a $550 a day Ponzi scheme run by Sifuentes. It collapsed in 2017.
The Arizona Securities Division filed swimsuit towards Sifuentes for securities fraud in 2020. Upon studying he was underneath investigation by US authorities, Sifuentes fled to Mexico.
There he continued to commit securities fraud by means of his Xifra Way of life Ponzi scheme.
Sifuentes was arrested in Mexico in January 2022. Later that very same month Mexican authorities slapped Xifra Way of life with a $49,321 securities fraud fantastic.
Following his launch from custody, Sifuentes fled Mexico for Dubai. Xifra Way of life was consequently deserted, with Sifuentes rebooting the rip-off as Decentra.
Along with defending a clear-cut case of securities fraud, dealing with off towards the Arizona Securities Division would probably have seen Sifuentes return to the US.
There he’d be probably topic to arrest, though it’s unclear whether or not there’s a federal US investigation into Xifra Way of life and now Decentra.
Nineteen Decentra promoters within the Philippines had been arrested final month.
Whereas Decentra is determined to resuscitate itself in Central and South America…
…most of Xifra Way of life’s victims haven’t migrated over.
As half of what’s probably an effort to stop a flood of complaints to authorities, Sifuentes has saved Xifra Way of life’s web site on-line. SimilarWeb stories prime sources of site visitors to Xifra Way of life’s web site as Mexico (51%), the US (19%) and Colombia (14%).
Site visitors to Decentra’s web site originates from Martinique (51%), Mauritius (23%) and Thailand (12%).
Martinique and Mauritius have a mixed inhabitants of 1.63 million. It’s not going to take lengthy for Decentra to exhaust Ponzi recruitment between the small islands.
Though total site visitors is down, Xifra Way of life’s web site continues to be receiving over 5 occasions the quantity of site visitors as Decentra’s web site.
Whereas Sifuentes could also be wished in Mexico and the US, sadly nothing a lot is more likely to occur whereas he stays in Dubai.
By means of restricted extradition treaties, non-cooperation with overseas legislation enforcement and turning a blind-eye to MLM associated securities fraud, Dubai gives safe-haven to scammers from around the globe.
Keep tuned for specifics of Sifuentes’ securities fraud settlement particulars in September.
