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EmpiresX- Scam Review

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Three individuals have been charged: Joshua David Nicholas, Flavio Mendes Goncalves, and Emerson Pires.   

The three have been accused of crimes associated to the EmpiresX Ponzi scheme.   

EmpiresX was an extraordinary MLM cryptocurrency buying and selling bot, launched in 2020.   

In line with an indictment handed down by a grand jury on June 30, Emerson Pires and Flavio Mendes Goncalves aggressively promoted EmpiresX to potential buyers as a worthwhile funding alternative.

Pires, Goncalves, and Joshua David Nicholas misrepresented and deceitfully promoted EmpiresX’s alleged funding platform, which allegedly concerned buying and selling bots and personal funding, as a simple, safe, and adaptable technique to spend money on cryptocurrencies and fiat cash.   

Pires, Goncalves, and Nicholas marketed the EX BOT as an funding of cash right into a three way partnership with different buyers, with the cheap expectation of income from EmpiresX’s efforts. In consequence, they provided and offered the EX BOT as a collection of transactions or schemes.

In consequence, the EX BOT met the standards for “safety” standing underneath the legal guidelines governing the provide and sale of securities in the US and necessitated SEC registration. Regardless of claims on the contrary, Pires, Goncalves, and Nicholas by no means registered EmpiresX’s funding program involving the EX Bot with the SEC as an providing and sale of securities, and they didn’t take any motion to take action both.

In addition they lacked a authorized exemption from this registration requirement. Pires and Goncalves laundered buyers’ funds generated within the US and elsewhere by means of EmpiresX’s community of cryptocurrency wallets, International Cryptocurrency Change 1, and different locations as a way to disguise and conceal buyers’ funds and the truth that EmpiresX was not independently producing significant income by means of the EX BOT.

EmpiresX defrauded victims’ buyers out of about $100 million in complete. Moreover, Pires, Goncalves, and Nicholas used cash from buyers to pay for private bills like costly automobiles, designer garments, and authorized prices.  

Pires, Goncalves, and Nicholas are charged within the indictment with one depend of wire fraud conspiracy;   

one depend of conspiracy to commit securities fraud on one depend;

and one depend of worldwide cash laundering conspiracy (Pires and Goncalves). 

The DOJ is asking for the confiscation of illegally acquired wealth and convictions.   

If discovered responsible,  Emerson Pires and Flavio Gonçalves may get a punishment of as much as double what they stole, along with 45 years in jail.   

Joshua Nicholas might obtain a sentence of as much as twice what he stole plus 25 years in jail.

A sealed submission was made on July 1st, sooner or later after the EmpiresX indictment was submitted.   

Docket Entry 2 is restricted/sealed within the system till additional discover.   

This is perhaps related to arrest warrants, for my part.   

Pires and Goncalves, each Brazilian nationals, escaped to Brazil after realizing they have been underneath investigation by US officers. Brazilian residents should not extradited.   

Joshua David Nicholas, a Florida native and US citizen, resides there.   

The current standing of all three EmpiresX defendants is unknown pending modifications to the courtroom docket.  The SEC and CFTC have additionally introduced separate lawsuits in opposition to Pires, Goncalves, and Nicholas for a similar causes.

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