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Daniel Putnam has paid $12 million to settle a fraud case that the SEC brought against him.

The SEC asked for a judgment to be made against Putnam on January 3.

On December 30, Putnam agreed to the judge’s request.

If the court agrees with Putnam’s two-part judgment, he will never be able to break the Securities and Exchange Act again.

Defendant won’t be able to say that he didn’t break the federal securities laws like the Complaint says he did.

The defendant can’t say that the Consent or this Judgment isn’t true.

In particular, Putnam is not allowed to use securities (unregistered or otherwise),

to do anything, like an act, a practice, or a way of doing business, that is or could be used to trick or cheat someone.

In the middle of 2020, the SEC sued Putnam (right).

The government agency said that Putnam’s Modern Money Team, Eyeline Trading, and WealthBoss Ponzi schemes tricked people out of money.

Through R & D Global LLC and MMT Distribution LLC, which are also named as defendants, Putnam’s scam money was cleaned up.

Since the judgment against Putnam is split into two parts, the amounts for disgorgement, prejudgment interest, and civil penalties are still up in the air. The SEC will ask for the amounts to be decided in a motion that will be filed at a later date.

I think the timing of this filing will depend on how the SEC’s case against Jean Paul Ramirez and Angel Rodriguez, two of Putnam’s criminal partners, turns out.

If Putnam settles, likely, Ramirez and Rodriguez will also have to settle at some point. But this isn’t a sure thing.

In the meantime, the SEC got permission last month to question Rodriguez and Ramirez.

Rodriguez is going to be put on trial on January 17. On January 25, Ramirez will be fired.

Even though Putnam has been sued for securities fraud and ripping off customers, he still runs and starts up MLM companies.

Putnam started B-Eco at the beginning of 2022 as a part of B-Epic. Putnam released Against All Odds in the middle of 2022. It was a remake of Lurra Life.

Stay tuned… Until the judge’s decision on Putnam’s securities fraud settlement is finalized,

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