Joshua David Nicholas has plead responsible to at least one rely of conspiracy to commit securities fraud.
Nicholas performed “Grasp Dealer” in EmpiresX, by way of the misappropriated alias “Joshua Gregg”.
Nicholas signed his EmpiresX plea settlement on September eighth.
As per the settlement, the DOJ has agreed to dismiss Depend 1 of his indictment, pertaining to conspiracy to commit wire fraud.
The DOJ has additionally agreed “to not carry up any extra expenses associated to (Nicholas’) involvement with EmpiresX”.
Nicholas has agreed to help the DOJ with ongoing EmpiresX associated proceedings. This particularly pertains to securing convictions in opposition to EmpiresX’s fugitive founders, Emerson Pires and Flavio Goncalves.
Nicholas can even give up $312,246, ill-gotten proceeds traceable to EmpiresX.
BehindMLM reviewed EmpiresX in June 2021, accurately figuring out it as a Ponzi scheme.
By way of indictments in opposition to Nicholas, Pires and Goncalves filed in June 2022, the DOJ would later verify EmpiresX was a $100 million Ponzi.
Having fled to Brazil, Pires and Goncalves stay at giant. EmpiresX investor losses have been pegged at simply over $40 million.
The identical day Nicholas filed his responsible plea he was launched on a $50,000 bond. Nicholas will probably be topic to house confinement with restricted exceptions pending sentencing.
Sentencing has but to be scheduled however Nicholas faces as much as 5 years imprisonment and a $250,000 high-quality.
