Following an asset deposition of Mike Sims again in Might, the SAEG Receiver has begun seizing belongings tied to fraud.
Word that BehindMLM has beforehand referenced the SAEG case because the Yas Castellum case. Each SAEG and Yas Castellum are company entities tied to a Ponzi scheme the CFTC sued earlier this yr.
In a nutshell, Yas Castellum was a cash laundering shell firm tied to Mike Sims and his brother-in-law Marcus Brisco.
SAEG Capital Basic Administration was tied to Tin Quoc Tran, who along with Sims and different accomplices ran the Ponzi scheme.
Given the Receiver has been given the “SAEG” title, we’ll be referring to proceedings utilizing SAEG branding going ahead.
Property being seized from Sims embody:
- a rental in Florida;
- a down fee on one other “E11even” rental in Florida;
- a Mercedes G-Wagon;
- a Bentley Continental;
- a Bentley Flying Spur;
- a Rolls Royce Cullinan;
- a leased Cadillac Escalade;
- a Rolex watch;
- cryptocurrency;
- foreign exchange investments;
- a laptop computer;
- two cell telephones; and
- a monetary curiosity in MAS Capital and Mike Sims Worldwide and NYC Futures Fund
As a consequence of his involvement in OmegaPro, Mike Sims is our major curiosity within the CFTC’s SAEG case.
For reference although, belongings being seized from different SAEG defendants embody:
Tin Quoc Tran (proprietor of SAEG Ponzi)
- a Katy, Texas home Tran tried to liquidate by way of Thuylinh Nguyen (the Receivership took possession of the home as of Might 2023, pending courtroom approval it has been bought for $695,000);
- one other home in Anaheim, California;
- one other home in Santa Ana, California; and
- $124,000 paid as a retainer to Tran’s attorneys
Marcus Brisco (laundered investor funds with Mike Sims)
- a home in Maui, Hawaii;
- a Mercedes Benz automobile;
- a Jeep truck;
- a pool desk;
- three watches;
- a laptop computer pc; and
- a cellphone
Francisco Story (labored intently with Tran)
- a 2018 Triumph bike (deserted as a consequence of a lien that “exceeds its honest market worth”);
- a 2022 Kawasaki bike; and
- an curiosity in “sure financial institution or brokerage accounts”
Ted Safranko (labored intently with Tran)
Ted Safranko (proper) labored intently with Tran and is the first hyperlink to the a lot bigger Merchants Area Ponzi scheme. I imagine, at the very least on some stage, that SAEG fed into The Merchants Area.
Because the SAEG and Merchants Area collapses final yr, Safranko seems to have gone into hiding.
So far Safranko has failed to reply to the CFTC’s SAEG lawsuit. This prompted the CFTC to file for Default Judgment, a choice on which stays pending.
With respect to the SAEG Receiver recovering belongings from Safranko;
The Receiver tried to personally serve Safranko with a subpoena to look for an asset deposition, however Safranko couldn’t be discovered.
Though Safranko was served with the Grievance and the SRO, he has not complied together with his obligations underneath the
SRO to show over belongings, data, and knowledge to the Receiver.
I think Safranko’s disappearance is in anticipation of pending civil and prison The Dealer’s Area fraud costs.
Victims of Tran’s SAEG Ponzi scheme can contact the Receiver by way of the SAEG Receivership’s web site.
The Receiver notes that, as of September 1st, “greater than 30 potential claimants” reached out.
