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The Arizona Corporation Commission penalized My Trader Coin, Now Mining, and the crooks behind it for securities fraud.

The ACC filed a stop and desist application in 2020 (unbeknownst to BehindMLM until now), demanding reparations and administrative fines.

The following defendants are named in the ACC’s application: 1. My Trader Coin – a $550 per day Ponzi scheme reviewed on BehindMLM in April 2017 (collapsed in late 2017); 2. Now Mining – a daily returns Ponzi scheme reviewed on BehindMLM in December 2017 (collapsed mid-2018); 3. Now Mining – a daily returns Ponzi scheme reviewed on BehindMLM in December 2017 (collapsed mid-2018);

3. Jonathan Yelemian Sifuentes Saucedo (aka Jonathan Sifuentes) – a Brazilian national “domiciled mostly in Texas” who is suspected of establishing My Trader Coin or being a member of the management team;

5. Moises Herrera – an Arizona citizen, then Vice President of KASA Radio (now La Indiscreta FM), a champion of My Trader Coin and Now Mining; and 6. Carlos Parra – an Arizona resident, then Director of KASA Radio (now La Indiscreta FM), a promoter of My Trader Coin and Now Mining.

My Trader Coin (MTCoin) was allegedly targeted at the Hispanic population by several pastors at local Hispanic Christian churches and a Hispanic Christian radio station, according to the ACC’s application groups.

Respondents issued and sold at least 194 assets to at least 185 distinct investors for a total of at least $1,614,997 between March 2017 and March 2018, with three investments in Now Mining totaling $106,500 and the remainder of $1,508,497 in MTCoin.

Sifuentes offered and sold MTCoin investments to at least 12 people for a total investment of at least $126,000, and these people trusted Sifuentes’ claims.

Sosa marketed and sold MTCoin investments to at least 26 people for a total of $297,800. These people put their money into Sosa’s promises.

Herrera marketed MTCoin investments to at least two people for a total of $221,500, and these people invested based on Herrera’s statements.

Parma marketed and sold MTCoin investments to at least 17 people for a total of $229,000, with these individuals investing based on Parma’s statements.

Soon after investing in MTCoin, investors were assured they will be able to withdraw cash from their earnings in their MTCoin account (which was handled by CoinBase).

Several individuals began investing in March 2017. The investors, on the other hand, were never able to withdraw funds as promised.

Respondents neglected to notify MTCoin investors that earlier investors had been unable to withdraw funds as promised.

Four investors earned a total of $28,000 in rewards. The remaining investments were all wiped off.

Beginning in autumn 2017, Respondents Sosa, Herrera, and Parra also sold interests in another cryptocurrency investment, Now Mining, according to the ACC.

Herrera, Parra, and Sosa neglected to notify Now Mining offerees and investors that they had sold MTCoin investments to multiple people, which proved to be worthless.

Investors would have used this information to judge Herrera, Parra, and Sosa’s ability to appraise the investments they were selling.

Now Mining marketed and sold at least three investments totaling $106,500 to Arizona investors.

Sosa marketed and sold roughly $80,000 in Now Mining shares to at least one person, who invested based on Sosa’s promises.

Herrera offered and sold Now Mining investments to at least two people for a total investment of at least $25,000, and these people did so based on Herrera’s statements.

Parra marketed and sold Now Mining assets to at least two couples for a total of at least $26,500, with these individuals investing based on Parra’s statements.

The ACC’s application then accuses the respondents of securities fraud, as defined by the Arizona Revised Statutes (A.R.S.).

The Division wants the following relief from the Commission:

1. Order Respondents to permanently cease violating the Securities Act, by A.R.S. 44-2032; 2. Order Respondents to take affirmative action to correct the conditions resulting from Respondents’ acts, practices, or transactions, by A.R.S. 44-2032, including a requirement to make restitution; 3. Order Respondents to pay the state of Arizona administrative penalties of up to $5,000 for each violation of the Securities Act, by

Now Mining, Sifuentes, Sosa, Herrera, and Para settled with the ACC after their petitions to dismiss were denied. My Trader Coin did not answer, and a default order was placed.

Mario Sosa and his wife agreed to stop practicing securities fraud in Arizona permanently on August 14, 2021.

The Sosas also agreed to pay $155,300 in restitution and a $20,000 administrative penalty as part of the settlement.

Now Mining committed to stopping committing securities fraud in Arizona permanently on December 28, 2021.

Now Mining also agreed to pay $45,500 in restitution and a $10,000 administrative penalty as part of the settlement.

My Trader Coin obtained a default order to stop conducting securities fraud in Arizona on April 28th, 2022.

My Trader Coin was fined $1,162,747 in reparations and $75,000 in administrative penalties.

Carlos Parra and his wife also committed to stopping conducting securities fraud in Arizona permanently on April 28th, 2022.

The Parras also agreed to pay $73,500 in restitution and a $20,000 administrative penalty as part of the settlement.

Moises Herrera has asked for his case to be dismissed because he is “cognitively disabled.”

Herrera has scheduled a neuropsychological exam, according to a document from February 2022. Herrera’s move to dismiss is still ongoing at the time of publishing.

In March 2021, Jonathan Sifuentes filed a request to dismiss. In April 2021, the motion was rejected.

In February 2022, Sifuentes responded to the ACC’s application. In his replies, Sifuentes largely disputed the claims or claimed he didn’t know anything about them.

Sifuentes will face the ACC in a showdown trial later this year. In my judgment, he is unlikely to succeed.

Sifuentes’ establishment of Xifra Lifestyle in late 2019 is noteworthy.

Xifra Lifestyle promises investors a 200 percent return on investment through trading and cannabis farms.

In late 2020, BehindMLM examined Xifra Lifestyle and concluded that it was a straightforward crypto Ponzi scam. It’s similar to MT Coin and Now Mining.

According to website traffic figures, the bulk of Xifra Lifestyle investors come from Mexico and the United States.

Xifra Lifestyle claims to be a Mexican corporation on its website, which has a Mexican corporate address.

Investors were initially unaware that Sifuentes was behind the venture. President and CEO of Xifra, George Goodman, was introduced.

Following his detention in Mexico earlier this year, it was revealed that Sifuentes was behind Xifra Lifestyle.

Xifra Lifestyle and Sifuentes have been targeted in Mexico.

Last September, a securities fraud cease and desist order was filed against the Ponzi scam. In December, the company was fined for securities fraud.

Since his imprisonment in January 2022, Sifuentes has not been seen or heard in public. His present whereabouts are unknown.

Xifra Lifestyle investors have been experiencing withdrawal difficulties since late April, which is cause for concern. Xifra Lifestyle has also announced a rebranding as Decentra, with plans to relocate to Dubai.

Dubai is the world’s MLM fraud capital. Sifuentes would be safe from US and Mexican officials if he moved there.

Keep an eye on this space for developments on Sifuentes’ Arizona securities fraud hearing and Herrera’s request to dismiss.

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