EmpiresX’s Joshua Nicholas has asserted “NovaTech FX has recently been brought to justice”.
The claim, which BehindMLM
has not
been able to verify, was made in an April 11th court filing.
Through
EmpiresX
, Joshua David Nicholas worked with Emerson Pires and Flavio Goncalves to defraud consumers out of ~$100 million.
The ruse behind EmpiresX was automated trading. To that end Nicholas played “Joshua Greg”, EmpiresX’s “Master Trader”.
In addition to $3.3 million restitution and a
$300,026 judgment
in parallel civil proceedings brought by the SEC, Nicholas was
sentenced to 51 months
in prison last November.
On April 10th Nicholas filed a pro-se letter with the court requesting modification to his sentence.
In the motion, Nicholas stated;
Since being in physical custody I have continued to work with the SEC.
In fact NovaTech FX has recently been brought to justice at no benefit to me or discussion of such benefit.
The government just reached out to me weeks ago asking for additional help which I expect to provide any day now.
However, my help is significantly limited from being behind prison bars.
It is unclear what, if any, connection there is between Nicholas, EmpiresX and NovaTech FX.
While BehindMLM can’t verify Nicholas’ claim, we’ve anticipated federal action against NovaTech FX since
California’s securities fraud cease and desist
last November.
Wisconsin also revealed
NovaTech FX securities fraud charges and a $50,000 fine
earlier this month.
NovaTech FX
collapsed
in February 2023. Withdrawals were disabled till April 1st, after which, while re-enabled, withdrawals functionality remains severely restricted.
Nicholas’ claim suggests NovaTech FX’s ongoing withdrawal issues might be the result of the SEC and/or DOJ closing in on owners Cynthia and Eddy Petion.
The Petions, US nationals with ties to New York and Florida, have not been seen in public since late 2022.
Getting back to Nicholas’ motion, he believes there’s been a miscalculation with his sentencing.
I only played a specific function, was not involved in the planning, had limited knowledge, and I only made roughly 150 thousand compared to a cited loss amount of 40 million.
It should be noted that while the
CFTC’s
and
SEC’s
EmpiresX civil cases cite losses of around $40 million, the DOJ’s criminal case
pegged EmpiresX losses at over $100 million
.
How can I be sentenced under a loss of 40 million I was responsible for … when the court determined I was responsible for 3.3 million in loss?
Nicholas has requested his sentence accordingly be reduced to 24 to 30 months.
Outside of his sentencing claims, Nicholas also reveals he’s not having a great time in prison.
On my 30th day in custody I was attacked by a much larger black man (I’m a 140 lb. white guy) suffering broken ribs as a result.
Then, days later while in the SHU for no reason (I have no disciplinary infractions) another large black man tried to rape me.
Despite having prison camp custody
🤖 Quick Answer
Who is Joshua Nicholas and what was his role in EmpiresX?Joshua David Nicholas was a key figure in the EmpiresX fraud scheme, operating under the alias "Joshua Greg" as the company's purported "Master Trader". He collaborated with Emerson Pires and Flavio Goncalves to defraud consumers of approximately $100 million through a fake automated trading platform.
What legal consequences did Joshua Nicholas face?
Nicholas received a 51-month prison sentence in November. Additionally, he was ordered to pay $3.3 million in restitution and faced a $300,026 judgment from parallel SEC civil proceedings. In April, while incarcerated, he filed a pro-se motion requesting sentence modification.
What claims did Nicholas make regarding NovaTech FX?
In an April 11th court filing, Nicholas asserted that "NovaTech F
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