Jonathan Sifuentes’ My Dealer Coin securities fraud trial has been scheduled for August twenty second.
The Arizona Company Fee filed swimsuit towards Sifuentes and 6 different particular person defendants in 2020.
The ACC’s allegations pertain to securities dedicated via the My Dealer Coin and Now Mining Ponzi schemes.
4 of the defendants have already settled the costs. A 3rd was ordered to undertake neuropsychological analysis earlier this yr.
As per a Might nineteenth submitting, defendant Moises Herrera (69) has been assessed and located to be
not competent to take part within the two-week trial set in August of 2022.
Moises spouse, Yolanda Herrera, claims she
is simply named on this litigation, attributable to her marriage to Mr. Herrera … and has no data of the information concerned on this case.
The courtroom has but to handle the Herreras’ submitting.
At time of publication, Jonathan Sifuentes is ready to look earlier than the courtroom as scheduled. Whether or not Sifuentes attends the trial in individual is but to be decided.
The courtroom has requested Sifuentes lawyer present discover on how their representatives and witnesses intend to look earlier than the courtroom. Both in individual or electronically.
The Fee has decided that it’s applicable to supply the events to every Division case that can have a listening to the choice to have their representatives and witnesses attend and take part within the listening to in individual or remotely by way of Internet Ex.
The format for the listening to on this matter has not but been established.
If a celebration doesn’t make a submitting figuring out the style during which its representatives and witnesses will take part throughout the listening to, the Fee will anticipate the representatives and witnesses to take part in individual.
Attendance filings are due by July twenty second.
Sifuentes promoted My Dealer Coin by concentrating on largely Hispanic attendees of native church buildings.
Launched in early 2017, My Dealer Coin collapsed later that very same yr.
Having had a style for MLM Ponzi scamming, Sifuentes set about getting ready to launch Xira Way of life in late 2019.
Upon studying he was below investigation by the ACC, Sifuentes fled to Mexico.
There Sifuentes continued to function his Xifra Way of life Ponzi, till Mexican authorities arrested him earlier this yr.
Shortly after that, Sifuentes fled to Dubai. There he rebooted Xifra Way of life as Decentra Universe.
Decentra Universe launched on Might twenty seventh. Via his new Ponzi scheme, Sifuentes continues to defraud customers.
Dubai is the MLM crime capital of the world. Fleeing there successfully places Sifuentes out of attain of authorities.
If Sifuentes is required to attend the ACC trial in Arizona, he probably runs the chance of arrest.
This depends upon whether or not US authorities have opened up a federal investigation into Xifra Way of life, which presently is unknown.
Pending any surprising filings or occasions, our subsequent replace must be someday after Sifuentes’ August trial.
