Mindset24 International scammers John Brian McLane Jr. and Paul Anthony Nash have settled fraud allegations with the SEC.
As per proposed Ultimate Judgments filed on January thirtieth, an injunction will probably be granted prohibiting additional securities fraud violations.
McClane (proper) and Nash are additionally prohibited from working or taking part in pyramid schemes.
On the cash facet of issues, McClane pays $135,200 in disgorgement, $17,770 in prejudgment curiosity and a $60,000 civil financial penalty ($212,970 complete).
Nash pays $173,600 in disgorgement, $22,817 in prejudgment curiosity and a $60,000 civil financial penalty ($256,417 complete).
The SEC claims the disgorgement quantities symbolize “internet income” McClane and Nash stole by Mindset 24 International.
The SEC sued McClane and Nash in 2020. The regulator alleges the pair’s firm, Mindset 24 International, was a $1 million plus Ponzi scheme.
McClane’s and Nash’s settlements observe an April 2022 Standing Convention, wherein it was revealed McClane was having legal professional points.
On January thirty first McClane’s and Nash’s proposed Ultimate Judgments had been submitted to chambers for approval.
Ultimate approval of the settlement judgments stays pending.
