Jonathan Sifuentes’ My Dealer Coin securities fraud trial has been scheduled for August twenty second.
The Arizona Company Fee filed go well with in opposition to Sifuentes and 6 different particular person defendants in 2020.
The ACC’s allegations pertain to securities dedicated by means of 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 details concerned on this case.
The court docket has but to handle the Herreras’ submitting.
At time of publication, Jonathan Sifuentes is ready to seem earlier than the court docket as scheduled. Whether or not Sifuentes attends the trial in individual is but to be decided.
The court docket has requested Sifuentes legal professional present discover on how their representatives and witnesses intend to seem earlier than the court docket. Both in individual or electronically.
The Fee has decided that it’s acceptable to supply the events to every Division case that may have a listening to the choice to have their representatives and witnesses attend and take part within the listening to in individual or remotely through 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 way by which its representatives and witnesses will take part through 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 making ready to launch Xira Way of life in late 2019.
Upon studying he was beneath 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. By way of 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 doubtlessly runs the danger 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 sudden filings or occasions, our subsequent replace needs to be someday after Sifuentes’ August trial.
