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The SEC’s $12 million fraud case against Jean Paul Ramirez Rico has been settled.

The SEC filed a Motion for Entry of Judgment against Ramirez on January 24. Ramirez agreed to the motion, which means that a deal was made.

Later that same day, the court agreed with the SEC, so Angel Rodriguez was the only defendant left.

In mid-2020, the SEC sued Ramirez, along with Dan Putnam and Angel Rodriguez.

The government agency said that the three used his Modern Money Team, Eyeline Trading, and WealthBoss Ponzi schemes to scam people.

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

On January 6, a ruling was made against R&D Global and MMT Distribution. On the same day, a ruling was also made against Daniel Putnam (right).

All of the judgments that have been made so far are split, which means that the amounts for disgorgement, prejudgment interest, and civil penalties have yet to be decided.

The SEC will ask for the amounts to be decided in a motion that will be filed at a later date. I think this will happen when the case against Angel Rodriguez is over, either through a settlement or a trial.

The settlements for Ramirez and Putnam include an injunction that says they can’t break the Securities and Exchange Act again.

Since his two accomplices have already paid off the fraud charges, it’s unlikely that Rodriguez will go to court.

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