On July 27th the Securities Division informed the Arizona Corporation Commission that
Jonathan Sifuentes Saucedo has agreed to a proposed Order to Cease and Desist, Order for Restitution, Order for Administrative Penalties and Consent to Same.
In doing so, Sifuentes will settle My Trader Coin securities fraud charges brought against him.
For now, the purpose of the Securities Division’s motion was to vacate Sifuentes’ scheduled August 23rd trial.
The court granted the Securities Division’s motion on July 28th.
Unfortunately while we know Sifuentes has settled the securities fraud charges, we’ll have to wait till September for specifics.
This proposed order will be presented for approval by the Commission at the Open Meeting scheduled for September 7, 2022.
My Trader Coin was a $550 a day Ponzi scheme run by Sifuentes. It collapsed in 2017.
The Arizona Securities Division filed suit against Sifuentes for securities fraud in 2020. Upon learning he was under investigation by US authorities, Sifuentes fled to Mexico.
There he continued to commit securities fraud through his Xifra Lifestyle Ponzi scheme.
Sifuentes was arrested in Mexico in January 2022. Later that same month Mexican authorities slapped Xifra Lifestyle with a $49,321 securities fraud fine.
In addition to defending a clear-cut case of securities fraud, facing off against the Arizona Securities Division would likely have seen Sifuentes return to the US.
There he’d be potentially subject to arrest, although it’s unclear whether there’s a federal US investigation into Xifra Lifestyle and now Decentra.
Nineteen Decentra promoters in the Philippines were arrested last month.
While Decentra is desperate to resuscitate itself in Central and South America…
…most of Xifra Lifestyle’s victims haven’t migrated over.
As part of what is likely an effort to prevent a flood of complaints to authorities, Sifuentes has kept Xifra Lifestyle’s website online. SimilarWeb reports top sources of traffic to Xifra Lifestyle’s website as Mexico (51%), the US (19%) and Colombia (14%).
Traffic to Decentra’s website originates from Martinique (51%), Mauritius (23%) and Thailand (12%).
Martinique and Mauritius have a combined population of 1.63 million. It’s not going to take long for Decentra to exhaust Ponzi recruitment between the small islands.
Although overall traffic is down, Xifra Lifestyle’s website is still receiving over five times the amount of traffic as Decentra’s website.
While Sifuentes may be wanted in Mexico and the US, unfortunately nothing much is likely to happen while he remains in Dubai.
Through limited extradition treaties, non-cooperation with foreign law enforcement and turning a blind-eye to MLM related securities fraud, Dubai provides safe-haven to scammers from around the world.
Stay tuned for specifics of Sifuentes’ securities fraud settlement details in September.