Jeremie Sowerby has been arrested on fraud charges related to multiple MLM crypto Ponzi schemes.

Sowerby and co-conspirator Luis Ortega were indicted under seal on September 19th.

The indictment details charges related to Now Mining, VIP Mining and Millennium Technologies.

As reviewed here on BehindMLM;

Now Mining
(2017) pitched investors on a 1% daily ROI for 280 days

VIP Mining
(2018) pitched investors on a variable daily ROI rate

Millennium Technologies I’m not familiar with but is described as a “cryptocurrency investment fraud scheme” in Sowerby’s and Ortega’s indictment. This is in line with Now Mining and VIP Mining (both used a crypto mining ruse).

The indictment cites Ortega (right) as CEO of all three Ponzi schemes.

ORTEGA regularly misrepresented and mischaracterized his employment history, business background, and financial expertise to victim investors.

Before 2017, ORTEGA had no meaningful background, experience, or knowledge about cryptocurrency mining or trading operations.

For each fraudulent cryptocurrency enterprise, ORTEGA represented himself as an owner, manager, and salesman.

Although he was co-owner of each scam, Sowerby’s role was to be the “primary salesperson” in each scheme.

SOWERBY also misrepresented and mischaracterized ORTEGA’s employment history, business background, and financial expertise to victim investors.

SOWERBY had no meaningful background, experience, or knowledge about cryptocurrency mining or trading operations.

Together with ORTEGA, he created deceptive sales presentations that contained elaborate lies and dishonest investment opportunities.

For each fraudulent cryptocurrency enterprise, SOWERBY also represented himself as an owner, manager, and salesman in each fraudulent enterprises.

Between Now Mining, VIP Mining and Millennium Technologies, Sowerby (right) and Ortega “defrauded about 290 victims of approximately $6,282,775.”

This money was wrongly deposited into, and transferred between, seventeen (17) banks controlled individually by either ORTEGA, SOWERBY, or SOWERBY’s girlfriend (K.B.).

As with all MLM Ponzi schemes, the primary beneficiaries of invested funds were those running the scam.

No victim funds in Now Mining were used to lease or buy cryptocurrency mining machines that generated profits for any of the victim-investors in Now Mining.

Instead, approximately two million dollars of investor funds were inappropriately used by defendants to buy actual Bitcoins in the market, and some of the Bitcoins were then used in a deceptive way by defendants to make it appear to victims that their actual investments were used to lease legitimate mining machines that purportedly generated profits for victims.

Most of the $2,000,000 in actual Bitcoins that defendants fraudulently purchased was never disbursed to victims, and the $6.2 million in victim funds overall were either moved to private accounts controlled by defendants or spent by defendants to buy homes and live lavishly.

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🤖 Quick Answer

Who is Jeremie Sowerby and what are the charges against him?
Jeremie Sowerby was arrested on fraud charges related to multiple MLM cryptocurrency Ponzi schemes. He and co-conspirator Luis Ortega were indicted on September 19th for operating Now Mining, VIP Mining, and Millennium Technologies, which defrauded investors through misrepresented cryptocurrency investment returns.

What were the investment schemes operated by Sowerby and Ortega?
Now Mining promised 1% daily ROI over 280 days, while VIP Mining offered variable daily returns. Both schemes utilized cryptocurrency mining as a cover for their fraudulent operations. Millennium Technologies was similarly characterized as a cryptocurrency investment fraud scheme in the indictment.

What role did Luis Ortega play in these schemes?
Luis Ortega was cited in the indictment as CEO of all three

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