Following
EmpiresX’s collapse
late last year, the company has announced it’s shutting down.

The announcement was made via a communication sent out to investors in the last 24 hours.

One immediately concern the EmpiresX’s announcement raises is potential identity theft.

Citing unnamed “stakeholders”, EmpiresX writes;

Some stakeholders have violated standards and acted in ways that purport to harm the company.

Therefore, EmpiresX will be filling [sic] to discontinue operations and dissolve.

FINRA and the SEC get a mention, albeit amidst incoherent rambling;

EmpiresX deems certain standards to be self-evident.

Most importantly, EmpiresX despites being harmed, has determined that high standards of professionalism and ethical conduct are most important consistent with FINRA and SEC guidelines.

Despite offering securities by way of passive returns, primarily to US residents, EmpiresX was not registered with the SEC.

Seemingly acknowledging its regulatory non-compliance, EmpiresX goes on to state;

Therefore, EmpiresX has been returning invested capital to stakeholders and closing accounts.

EmpiresX has already returned a material portion of capital and your expected payment date will be available on your backoffice by the end of February.

BehindMLM is unaware of any EmpiresX affiliates receiving payment since October 2021.

The final point in EmpiresX’s announcement suggests the company may have sold investor information to an unnamed third-party.

To maintain high standards of professionalism and ethical conduct, EmpiresX is making changes to the back office, closing the website, and 
redirecting your login information to a third party.

This will protect your information, and increase transparency as EmpiresX maintains its commitment to transparency.

Anyone who has provided EmpiresX with personal information would be wise to evaluate how that information might be used by a third-party.

Ultimately EmpiresX’s exit announcement feels like a whimper. The company’s owners, Emerson Pires and Flavio Goncalves, are nowhere to be found.

Based on
leaked data
obtained in early January, BehindMLM believes Pires and Goncalves were still in Florida and Brazil respectively.

Whether they have since fled is unclear.

Pending further updates, stay tuned…

Update 7th May 2022 –
The SEC has sued Emerson Pires, alleging at least $8 million in damages.

The lawsuit pertains to
Mining Capital Coin
, a
Ponzi scheme
Pires co-founded in late 2017.

On or around January 2022, Pires fled to Brazil.

🤖 Quick Answer

What happened to EmpiresX following its collapse?
EmpiresX announced its shutdown via investor communication after collapsing late last year. The company cited violations of standards by stakeholders and stated it would discontinue operations and dissolve, referencing compliance with FINRA and SEC guidelines in its dissolution process.

What risks does EmpiresX's closure pose to investors?
A primary concern raised by EmpiresX's shutdown announcement is potential identity theft. The company's dissolution process and handling of investor data creates vulnerability, particularly given the circumstances surrounding the Ponzi scheme collapse and subsequent operational discontinuation.

How did EmpiresX justify its operational shutdown?
EmpiresX attributed the shutdown to stakeholder violations and alleged harmful conduct against the company. The announcement emphasized commitment to professional standards and ethical conduct aligned with FINRA and SEC regulations, despite the organization's documented fraud history and financial collapse.

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