Armen Temurian is having trouble providing Vista Network trading proof.

Perhaps not surprising, given BehindMLM
pegged Vista Network as a MLM crypto Ponzi
back in 2017. This tracks with a CFTC investigation, which led to a
$7 million fraud lawsuit
.

Since the CFTC filed suit in 2023, there have been lengthy delays – mostly related to production and examination of discovery. Temurian (right), Vista Network’s owner, has also burned through three sets of lawyers.

Under threat of sanctions (currently held pending Temurian’s ongoing cooperation), this leads us production of discovery requested by the CFTC.

As per a Status Report filed by the CFTC on May 12th;

Since March 6, Defendant produced certain documents in response to Plaintiff’s Requests for Production (including documents and communications concerning other lawsuits).

Defendant also provided information concerning Vista-related websites, Vista customer inflows and outflows, and where materials that are responsive, but not yet produced, may be found. But responses to Plaintiff’s discovery requests remain incomplete.

Defendant has identified potentially responsive materials that he has not yet produced, such as materials located in two hard drives and certain data depositories.

More specifically,
Defendant represented that he is working to find records of trading Vista customer funds
and to produce records of Vista-related webpages.

During the meet-and-confers, Defendant also indicated difficulties in obtaining certain relevant records from a third-party service provider relating to Vista customer funds, and Plaintiff is working independently to seek such records.

The CFTC has asked the court to continue to hold its sanctions motion till July 14th. A Status Report will be filed on this date, the details of which I’ll cover in an update below.

Update 15th July 2025 – 
A Status Report was filed on July 14th. Temurian is still dragging his feet on discovery.

Since May 13, 2025, the parties have made progress in discovery, though Defendant Temurian’s responses to Plaintiff’s discovery requests remain incomplete.

Accordingly, Plaintiff respectfully requests that the Court continue to hold the motion for sanctions in abeyance and set a deadline of 60 days from now for another status report.

I’ll leave another update below when the court responds to the report.

Update 20th July 2025 – 
The court notes the CFTC has not filed a motion for sanctions. The next Status Report is due by September 12th.

Update 7th March 2026 – 
The parties informed the court that an ‘agreement in-principle” settlement has been reached. The court has requested a Stipulation of Dismissal be filed by April 3rd, 2026.

Update 4th April 2026 – 
At the request of the CFTC, the stipulation deadline has been extended to May 1st, 2026.

🤖 Quick Answer

What is the Vista Network case involving Armen Temurian?
Armen Temurian, owner of Vista Network, faces a $7 million fraud lawsuit filed by the CFTC in 2023. The case stems from allegations that Vista Network operated as a MLM crypto Ponzi scheme, a classification first identified by BehindMLM in 2017. Temurian has experienced difficulty producing trading proof during discovery proceedings.

Why is Armen Temurian unable to produce Vista Network trading proof?
Court filings indicate Temurian has struggled to provide documentary evidence of legitimate trading activity conducted by Vista Network. The CFTC's discovery requests have met lengthy delays, with Temurian cycling through three sets of lawyers and facing potential sanctions for non-cooperation in producing the requested financial documentation.

What did the CFTC allege against Vista Network?
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