Marcus Brisco is paying $400,000 to settle with the court-appointed receiver overseeing the SAEG Ponzi scheme collapse. The settlement, filed October 7th, marks the first major recovery from Brisco since the Commodity Futures Trading Commission sued him in January 2023 for his role in the fraud.

The CFTC appointed a Receiver to hunt down stolen assets and return them to victims of the scheme. Under the settlement terms, which cover Brisco's company Rolly Receipts, the Receiver gets access to $400,000 spread across multiple accounts and assets. The money comes from Chase Bank and E*Trade accounts, a Third Bank account, and a Bank of Hawaii account. Another $33,000 comes from Rolly Receipts directly. The Receiver also gets $196,065 in equity from Brisco's Maui house, which is pending sale.

The Receiver approved the deal September 17th. Brisco signed on October 9th. The court rubber-stamped it five days later.

But Brisco's legal troubles aren't finished. The CFTC's original lawsuit against him remains unresolved. Two of his co-conspirators moved faster. Mike Sims settled with the CFTC for $250,000. Francisco Story paid $125,000.

The real architects of SAEG got crushed by default judgments. Tin Quoc Tran owes $512 million. Ted Safranko faces a $3.8 million judgment.

Sims and Safranko show up again in a second fraud case. The CFTC recently charged them in connection with The Traders Domain, another Ponzi scheme. The two frauds are intertwined through these men's involvement in both schemes.

OmegaPro, a collapsed crypto MLM Ponzi, fed money into The Traders Domain. Sims co-founded OmegaPro.

Sims is still in the United States. Safranko, a Canadian citizen, has vanished. According to the SAEG Receiver's October 1st status report, investigators tried to personally serve Safranko with a subpoena for a deposition. They couldn't find him. Despite being served with the initial complaint, Safranko ignored orders to surrender assets and records. The Receiver has no leads on his location or his money.

So far, federal authorities have only filed civil fraud charges. No criminal cases have been brought against anyone involved in SAEG or The Traders Domain.

A December 6th update: Brisco struck a separate settlement with the CFTC itself for $2 million.

🤖 Quick Answer

What is the SAEG Ponzi scheme settlement involving Marcus Brisco?
Marcus Brisco agreed to pay $400,000 to the court-appointed receiver overseeing the SAEG Ponzi scheme collapse. The settlement, filed October 7th, represents the first major recovery from Brisco since the CFTC lawsuit in January 2023. Funds come from multiple accounts including Chase Bank, E*Trade, and Bank of Hawaii, plus equity from his Maui property sale.

Who oversees asset recovery in the SAEG Ponzi fraud case?
A court-appointed Receiver, designated by the Commodity Futures Trading Commission, manages the asset recovery process. The Receiver's mandate includes locating stolen assets from the SAEG scheme and distributing recovered funds to defrauded victims. The receiver gained access to Brisco's accounts and property equity through the settlement agreement.

🔗 Related Articles

- CFTC files suit against The Traders Domain scammers
- Marcus Brisco settles SAEG fraud with CFTC for $2 mill
- Mike Sims settles SAEG fraud charges for $250,000
- Was OmegaPro tied to collapsed The Traders Domain Ponzi?
- Mike Sims consents to Yas Castellum Ponzi injunction