Michael Shannon Sims, a figure in the multilevel marketing industry known as Mike Sims, has agreed to accept a preliminary injunction in connection with a sprawling commodities fraud case.

The injunction stems from charges filed by the Commodity Futures Trading Commission in January 2023. Sims stands accused alongside four co-defendants—his brother-in-law Todd Brisco, Tin Tran, Francisco Story, and Frederick Safranko—of orchestrating interconnected Ponzi schemes under the Yas Castellum banner. Together, they allegedly stole at least $145 million from consumers.

Court documents reveal Sims' specific role: running the money laundering operation. Brisco, acting on Sims' instructions, funneled most investor funds into the Tran Pools while sending smaller amounts elsewhere. To keep the scheme hidden, Sims had Brisco disguise the transfers as payments for "services rendered." It was a simple cover story designed to avoid detection.

On February 6, the CFTC won a Statutory Restraining Order that froze all assets tied to Yas Castellum and its operators. The court determined there was substantial risk the defendants would move or destroy evidence. The order also granted the CFTC unrestricted access to the defendants' financial records, concluding the agency had demonstrated likely violations of the Commodity Exchange Act.

Rather than fight the case, Sims agreed on March 30 to convert that restraining order into a permanent preliminary injunction against him personally.

The terms are sweeping. Sims cannot commit further violations of the Commodity Exchange Act. He's barred from trading with any registered exchange and prohibited from entering any commodity transactions, whether in his own name or someone else's. He cannot solicit investor money for commodity purchases or sales. He's blocked from applying to the CFTC for registration or exemptions. He cannot open or access safe deposit boxes.

The evidence requirements are equally comprehensive. Sims must preserve all documents, electronic communications, recordings, and computer materials in his possession. He must hand over passwords to encrypted devices and data. He must provide the CFTC with a complete inventory of every electronic device he owns for forensic imaging.

On the financial front, Sims faces detailed accounting demands. He must produce full records of all funds, securities, assets, futures, forex, gold, and cryptocurrency holdings—both inside and outside the United States. The CFTC gets complete disclosure of every trading transaction.

The consent order also requires Sims to furnish the names, addresses, phone numbers, and email addresses of all individuals connected to the schemes. He has effectively surrendered his financial autonomy to federal oversight.

This agreement marks a significant step in the government's pursuit of those responsible for the Yas Castellum fraud. For the victims of the $145 million theft, Sims' acceptance of these restrictions suggests the CFTC's case against him is strong. What remains to be seen is whether the agency can recover any of the stolen money.

🤖 Quick Answer

Who is Mike Sims and what are the charges against him?
Michael Shannon Sims, a multilevel marketing industry figure, has agreed to accept a preliminary injunction related to a commodities fraud case. The Commodity Futures Trading Commission charged him in January 2023 with orchestrating Ponzi schemes under Yas Castellum, alongside four co-defendants, allegedly stealing at least $145 million from consumers through money laundering operations.

What was Mike Sims' specific role in the Yas Castellum scheme?
Sims directed the money laundering operation. His brother-in-law Todd Brisco, following Sims' instructions, funneled most investor funds into the Tran Pools while distributing smaller amounts elsewhere, enabling the scheme to perpetuate fraud against victims across multiple interconnected fraudulent operations.

**Who are the co-defendants involved in the

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