Joshua David Nicholas has copped a $300,026 judgment within the SEC’s EmpiresX civil fraud case.
As per an April nineteenth order approving Nicholas’ Consent Judgment;
Defendant is answerable for disgorgement of $289,000, representing web income gained on account of the conduct alleged within the Criticism, along with prejudgment curiosity thereon within the quantity of $11,026, for a complete of $300,026.
Nicholas’ judgement is deemed happy by his legal case restitution order. That order, entered final month, sees Nicholas up for $3.3 million in restitution.
As on the time the order was issued, Nicholas had paid again $312,246 – I imagine that’s the quantity that satisfies judgment within the SEC case.
Based on the DOJ, EmpiresX was a ~$100 million Ponzi scheme.
The ruse behind EmpiresX was automated buying and selling. To that finish Nicholas performed “Joshua Greg”, EmpiresX’s “Grasp Dealer”.
Along with restitution, Nicholas was sentenced to 51 months in jail final November.
The SEC secures Entry of Defaults in opposition to EmpiresX co-founders Emerson Pires and Flavio Goncalves on April twentieth. The regulator has been directed to file Motions for Default Judgment by Might 4th.
Pires and Flavio had been indicted on parallel legal costs in July 2022.
The pair fled the US for Brazil upon studying they had been below investigation. Pires and Goncalves stay needed fugitives at giant.
