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Joshua David Nicholas, the EmpiresX fraudster, was sentenced to 51 months in jail.

Nicholas’ punishment was handed down on November 28th after a 45-minute sentencing session.

After serving his four and a quarter years in jail, Nicholas will be subject to three years of supervised release. As part of his verdict, Nicholas will also pay $267,246.

On February 7th, 2023, a reparations hearing has been planned. I’m not sure if this is in reference to the $267,246 judgment or additional financial penalties.

EmpiresX was a $100 million Ponzi scam that went bankrupt in December 2021.

Nicholas was a member of the EmpiresX business staff, first appearing as “Master Trader” Joshua Greg.

Following the discovery that this was a stolen identity, Nicholas resumed using his given name.

Nicholas worked with EmpiresX founders Emerson Pires and Flavio Goncalves, who fled to Brazil after learning they were being investigated in the United States.

Pires and Goncalves are both wanted fugitives. The SEC and CFTC have also started simultaneous civil fraud cases against them and Nicholas.

Six recent “system entry” limited files on the EmpiresX criminal case docket are noteworthy. I’m not sure if they are about Nicholas’ punishment or about Pires and Goncalves.

Keep checking back for updates while BehindMLM continues to investigate the EmpiresX instances.

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