Ryan Morgan Evans just got added to a major SEC lawsuit over a $165 million Ponzi scheme—and he appears to be running the exact same scam all over again.

The SEC named Evans as a defendant in its amended complaint against Saivian and owner Eric J. Dalius. Evans held the titles of Director of Operations and Vice President of Marketing at Saivian, putting him front and center in promoting the fraudulent scheme. Court records show the company operated as a hybrid Ponzi pyramid that bilked investors out of more than $165 million before collapsing.

But Evans didn't learn his lesson. After Saivian went down, he launched Elamant—a company we exposed in 2018 for running nearly identical business practices. Same playbook, same target market. The operation primarily marketed itself across southeast Asia, just like its predecessor.

When the SEC added Evans as a defendant on October 3rd, something changed fast. Elamant's website now displays a vague holding message: "A NEWER and BETTER Experience is Coming SOON! We are undergoing a complete system rebuild and will be back shortly!" Translation: the site went dark. Elamant's official Facebook page vanished entirely. Though Evans kept promoting Elamant on YouTube as recently as last month—right up until the lawsuit papers hit.

Evans himself appears to have scattered. Social media profiles show him fleeing the US for Singapore after Saivian's collapse. He's now supposedly based in California, though his actual whereabouts remain unclear.

The legal machinery accelerated in early 2023. After Eric Dalius settled with the SEC in August 2022, regulators moved to wrap up the case against Evans. The SEC filed a summary judgment motion on February 9th, seeking to end the lawsuit without a trial. Evans fought back with his own filing on February 23rd, opposing the motion.

A federal court scheduled a hearing for March 23rd to hash out the dispute. That hearing went forward as scheduled. The judge has taken the matter under advisement, meaning a ruling could come at any time. The docket will show when the court issues its order.

🤖 Quick Answer

Who is Ryan Evans and what is his connection to the Saivian Ponzi scheme?
Ryan Evans served as Director of Operations and Vice President of Marketing at Saivian, a hybrid Ponzi pyramid scheme that defrauded investors of $165 million. The SEC named him as a defendant in its amended complaint against Saivian and owner Eric J. Dalius for his central role in promoting the fraudulent operation.

What allegedly happened after the Saivian collapse?
Following Saivian's downfall, Evans launched Elamant, a company exposed in 2018 for employing nearly identical business practices and targeting the same investor market. This pattern suggests Evans replicated the fraudulent scheme structure without addressing the underlying legal violations.

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