Beware of EmpiresX – Review Part 7

Emerson Pires and Flavio Goncalves, the creators of EmpiresX, have been given a default judgment.

On December 7th, restraining orders were issued against the two fraudsters, both of whom had fled to Brazil.

It is currently unknown what the default judgment against Pires and Goncalves in the EmpiresX civil class-action implies.

BehindMLM first learned of the class action in August. The appointment of a Receiver, who will be in control of the EmpiresX assets Pires and Goncalves left behind, is unique to this instance.

This has put a wrench for the SEC’s and CFTC’s separate EmpiresX actions.

Both lawsuits were delayed in October pending the outcome of service under the Hague Convention. The procedure is scheduled to take six months.

According to the class-action Receiver’s Fifth Status Report dated November 30th, both the SEC and the CFTC are still investigating.

considering how to continue against Empires Consulting in light of the appointment of the Receiver

All of this is on top of the criminal accusations filed by the DOJ.

On December 7th, Excell Auto Finance was refused a Motion to Intervene.

The action filed by Excell Auto Finance stemmed from a disagreement over a confiscated Ferrari.

This is from the Fifth Status Report of the Receiver.

The Receiver identified a Ferrari… titled in the name of 2U Business Consulting & Technology Corp. (“2U Business”) on or about October 17, 2022.

Defendant Flavio Mendes Goncalves owns the company 2U Business.

The assets of 2U Business, being a business controlled by the Defendant, are subject to the asset freeze imposed by the Receivership Order.

Since the Ferrari was identified, the Receiver has seized the car (which required a service expense to bring the vehicle in functioning order) and placed it in storage.

The automobile is said to be worth more than $215,000. The Receiver is seeking offers for the sale of a car in order to liquidate it.

The Receiver discovered on October 25, 2022, that Columbus Day Finance claims a lien on the aforementioned Ferrari in the sum of $127,000.

The companies Excell Auto Finance and Columbus Day Finance are the same.

Excell Auto Finance, LLC, also known as Columbus Day Finance, has filed a Motion for Leave to Intervene, requesting that a claim be assigned to the Ferrari.

That is the motion that was refused on December 7th.

We’ll keep you updated pending updates from the EmpiresX Receiver, SEC, and/or CFTC.

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