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 in opposition to him.
For now, the aim of the Securities Division’s movement was to vacate Sifuentes’ scheduled August twenty third trial.
The court docket 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 can be offered 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 in opposition to Sifuentes for securities fraud in 2020. Upon studying he was beneath investigation by US authorities, Sifuentes fled to Mexico.
There he continued to commit securities fraud via his Xifra Life-style Ponzi scheme.
Sifuentes was arrested in Mexico in January 2022. Later that very same month Mexican authorities slapped Xifra Life-style with a $49,321 securities fraud tremendous.
Following his launch from custody, Sifuentes fled Mexico for Dubai. Xifra Life-style was consequently deserted, with Sifuentes rebooting the rip-off as Decentra.
Along with defending a clear-cut case of securities fraud, going through off in opposition to the Arizona Securities Division would possible have seen Sifuentes return to the US.
There he’d be doubtlessly topic to arrest, though it’s unclear whether or not there’s a federal US investigation into Xifra Life-style 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 Life-style’s victims haven’t migrated over.
As half of what’s possible an effort to forestall a flood of complaints to authorities, Sifuentes has saved Xifra Life-style’s web site on-line. SimilarWeb stories high sources of site visitors to Xifra Life-style’s web site as Mexico (51%), the US (19%) and Colombia (14%).
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 general site visitors is down, Xifra Life-style’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 needed in Mexico and the US, sadly nothing a lot is prone to occur whereas he stays in Dubai.
Via restricted extradition treaties, non-cooperation with overseas legislation enforcement and turning a blind-eye to MLM associated securities fraud, Dubai supplies safe-haven to scammers from all over the world.
Keep tuned for specifics of Sifuentes’ securities fraud settlement particulars in September.
