Default judgment has been granted towards EmpiresX founders Emerson Pires and Flavio Goncalves.
Respective orders towards the 2 scammers, each of whom have fled to Brazil, had been filed on December seventh.
It’s presently unclear on what default judgment towards Pires and Goncalves means within the EmpiresX civil class-action.
BehindMLM discovered of the class-action again in August. Distinctive to the case is the appointment of a Receiver, who has been put in command of the EmpiresX property Pires and Goncalves left behind.
This has thrown a spanner within the works of each the SEC’s and CFTC’s respective EmpiresX proceedings.
In October each instances had been stayed pending the end result of service by way of the Hague Conference. The method is anticipated to take round six months.
As per a November thirtieth Fifth Standing Report from the class-action Receiver, each the SEC and CFTC are nonetheless
contemplate(ing) how (they) will proceed towards Empires Consulting given the appointment of the Receiver.
And all of that is on high of legal expenses introduced by the DOJ.
In associated information, Excell Auto Finance was denied a Movement to Intervene on December seventh.
Excell Auto Finance’s movement stems from a dispute over a seized Ferrari.
That is from the Receiver’s Fifth Standing Report;
On or October 17, 2022, the Receiver recognized a Ferrari … that’s titled within the identify of 2U Enterprise Consulting & Expertise Corp. (“2U Enterprise”).
2U Enterprise is an entity owned by Defendant Flavio Mendes Goncalves.
As an entity owned by the Defendant, 2U Enterprise’s property are the topic of the asset freeze imposed by the Receivership Order.
For the reason that identification of the Ferrari, the Receiver has seized the automobile (which required incurring a service value to get the automobile in working situation), and has positioned the automobile in storage.
The automobile is believed to be valued in extra of $215,000. The Receiver is soliciting bids for the sale of car for its liquidation.
On October 25, 2022, the Receiver discovered that Columbus Day Finance contends that it has a lien on the aforementioned Ferrari within the approximate quantity of $127,000.
Excell Auto Finance and Columbus Day Finance are the identical entity.
Excell Auto Finance, LLC n/okay/a as Columbus Day Finance has filed a Movement for Depart to Intervene looking for to asset a declare to the Ferrari.
That movement is the one which was denied on December seventh.
Pending updates from the EmpiresX Receiver, SEC and/or CFTC, we’ll preserve you posted.
