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The specifics of the My Trader Coin securities fraud settlement with Jonathan Sifuentes Saucedo have been made available.

Sifuentes guilty to securities fraud and agreed to pay $85,000 in fines, according to a document filed on August 18.

based on the agreed securities fraud settlement with Sifuentes;

Sifuentes made 10 sales of unregistered securities totaling $121,500.

When selling these investments, Sifuentes made significant representations and omissions, such as promising returns of over 300% in 300 days while failing to disclose the risk of investing in a multilevel marketing business, failing to disclose the risks associated with cryptocurrency investments, and failing to disclose that prior investors had not been able to withdraw principal as promised.

In 2017, BehindMLM examined and exposed My Trader Coin as a Ponzi scam.

Sifuentes will pay a $15,000 civil fine along with $70,000 in restitution as part of the My Trader Coin settlement.

These figures include $51,500 that was given to the victims of Sifuentes’ scam.

Sifuentes is also forbidden from breaking the Securities Act of Arizona any longer.

On September 7th, the ACC conducted a hearing to discuss approving the Sifuentes settlement. There hasn’t been any confirmation of approval as of yet.

Through the operation of the Decentra Ponzi scam, Sifuentes has already violated this stipulation of his MTC settlement and continues to do so.

A new version of Sifuentes’ failed Xifra Lifestyle Ponzi scam is called Decentra. The main target markets for both Ponzi schemes are consumers in Central and South America.

Investors in Xifra Lifestyle and Decentra are promised 200% returns, paid from money that was later invested.

Xifra Lifestyle and Decentra are not registered with financial regulators, similar to My Trader Coin.

Following his incarceration in Mexico earlier this year, Sifuentes fled to Dubai about the same time as Decentra was launched.

It is noteworthy that Sifuentes, a Mexican citizen, signed and had his MTC settlement notarized in Guadalajara in July.

The state of Jalisco is located in western Mexico, and Guadalajara is its capital.

Decentra conducted a marketing campaign across south America in August with the intention of scamming customers even more.

It’s unclear if Sifuentes visited Mexico as part of such attempts or not.

In any case, Decentra’s advertising efforts in August don’t seem to have had much of an impact:

According to SimilarWeb, Decentra’s website is receiving fewer visitors overall. Martinique (93% of traffic) and Taiwan (7% of traffic) are the only significant sources.

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