On August twenty second, Jonathan Sifuentes’ My Dealer Coin securities fraud trial will start.
It was in 2020 that the Arizona Company Fee sued Sifuentes and 6 different people.
The ACC’s accusations are towards a Ponzi scheme referred to as My Dealer Coin and Now Mining.
A plea settlement has already been reached with 4 of the accused. Neuropsychological testing was requested for a 3rd individual earlier this yr.
In response to a Might 19 doc, defendant Moises Herrera (69) has been assessed and judged to be incompetent. ready to participate within the two-week trial scheduled for August 2022 and cross it. Although she is married to Moises Herrera, Yolanda Herrera insists that she has no information of the details of the case.
The Herreras’ petition has but to be addressed by the courtroom.
Jonathan Sifuentes is scheduled to seem in courtroom on the time of this publication. It isn’t but identified if Sifuentes will present up for the trial.
It has been ordered by the courtroom that Sifuentes’s counsel notify the courtroom of the instances and places of their representatives and witnesses. Each in individual and on the web are acceptable strategies of communication.
For every division matter, the Fee has determined that it’s acceptable to permit the events to deliver their representatives and witnesses to the listening to both in individual or by way of WebEx. It has not but been determined how the listening to can be structured.
So long as a celebration would not point out how its representatives and witnesses will take part within the listening to, the Fee will assume that they will be in attendance.
There’s a deadline of July 22 for the submission of attendance information.
Sifuentes marketed My Dealer Coin to primarily Hispanic churchgoers within the space.
Regardless of its early 2017 launch, My Dealer Coin went bankrupt by the tip of the yr.
Sifuentes started getting ready for the launch of Xira Way of life in late 2019 after attempting out MLM Ponzi schemes.
Sifuentes fled to Mexico when he discovered he was being investigated by the ACC.
When Mexican police detained Sifuentes earlier this yr, he was nonetheless working his Xifra Way of life Ponzi there.
Sifuentes fled to Dubai quickly after that. He rebranded Xifra Way of life as Decentra Universe and started a brand new period for the franchise.
On the twenty seventh of Might, Decentra Universe went stay. Sifuentes’ newest Ponzi rip-off has him defrauding clients as soon as once more.
When you’re searching for an MLM crime scorching spot, Dubai has it. Sifuentes is successfully out of the fingers of the authorities if he flees there.
Sifuentes might face arrest for failing to attend the Arizona Prison Code (ACC) trial.
This all hinges on whether or not federal authorities in the US have launched an inquiry into Xifra Way of life.
If there are not any sudden developments, our subsequent put up can be after the August trial of Sifuentes.