John Barksdale indicted on Ormeus Global criminal charges

John Barksdale has been indicted on securities and wire fraud charges.

Barksdale stands accused of running Ormeus Global, a $70 million dollar Ponzi scheme.

Barksdale’s indictment recognizes Ormeus Global fraud occurring between 2017 and October 2021.

For reference,
BehindMLM reviewed and identified Ormeus Global’s securities fraud
 in June 2017.

Ormeus Global’s original Ponzi ruse was a trading bot. This then changed to mining profits, which is the subject of Barksdale’s indictment.

Barksdale (right) set up Ormeus Global as a Panamanian shell company operated out of Hong Kong.

The DOJ alleges Barksdale, identified as John Albert Loar Barksdale;

perpetrated a scheme to sell a new cryptocurrency token named Ormeus Coin (ORME) through false representations.

Through a series of white papers, in- person roadshows, online webinars and videos , social media platforms, and other marketing materials approved by Barksdale … Barksdale falsely represented, among other things, that Ormeus Coin was a digital money system secured by a $250 million cryptocurrency mining operation, which was one of the biggest such operations in the world.

To perpetuate the Ormeus Global false representations, Barksdale pushed out marketing materials depicting

photos of a purported Ormeus Coin mining facility , deceptively referenced an “Ormeus Reserve Vault” (“ORV” ) that stored over 3,000 Bitcoin purportedly derived from Ormeus Coin ‘ s mining operations that was represented as securing the value of Ormeus Coin, and falsely stated that Ormeus Coin ‘ s mining revenues exceeded $5 million on a monthly basis.

Ormeus Global’s fraudulent marketing claims
featured on Ted Nuyten’s BusinessForHome
;

Whether
money changed hands
between Barksdale and BusinessForHome is unclear.

In truth, Ormeus’ s mining operations never approached a value close to $250 million and never produced revenues exceeding one million dollars in any month, and the Bitcoin stored in the “Ormeus Reserve Vault ” belonged to a third party.

Specifically detailing Ormeus Global’s fraudulent mining representations, Barksdale’s indictment states;

In or about December 2017, BARKSDALE directed the transfer of approximately $10 million in Bitcoin for the purchase of mining equipment for Ormeus to the Mining Supplier, but no mining equipment procured with that payment was put into operation until at least in or about March 2018.

In February 2018, Barksdale published Ormeus Global’s whitepaper, in which he claimed Ormeus Global had

already commenced its cryptocurrency mining operation through private investment and is not seeking public money through an ICO.

Featured in the whitepaper was an “actual photo of Ormeus Coin(‘s) Mining Facility”.

This same photograph was used multiple times in marketing materials throughout early 2018 to create the false impression that it was a photo of an Ormeus mining facility.

That photo however was a data center in Montana, owned by a third-party.

Ormeus Global repr

🤖 Quick Answer

Who is John Barksdale and what are the charges against him?

What was Ormeus Global's structure and operation?
Ormeus Global was established as a Panamanian shell company operated from Hong Kong. Initially, the scheme promoted a trading bot as its core offering, later pivoting to claims of mining profits. Investors were deceived through misrepresentations regarding the legitimacy and profitability of these operations.

When was Ormeus Global's fraud first identified?
BehindMLM identified and reviewed

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