A federal receiver is now seizing the luxury toys and real estate that Mike Sims allegedly purchased with money stolen from a sprawling Ponzi scheme. The SAEG Receiver, named after SAEG Capital General Management, a company central to the fraud, began liquidating Sims' assets after his May deposition. The seized items include a Florida condo, a Mercedes G-Wagon, a Bentley Continental, a Bentley Flying Spur, a Rolls Royce Cullinan, a leased Cadillac Escalade, a Rolex watch, cryptocurrency holdings, and forex investments. Authorities also took a laptop, two cell phones, and Sims' financial stakes in MAS Capital, Mike Sims Worldwide, and NYC Futures Fund.

The Commodity Futures Trading Commission (CFTC) filed suit against the SAEG operation earlier this year, targeting what investigators described as a coordinated Ponzi scheme. Sims collaborated with Tin Quoc Tran, the owner of SAEG, and Tran’s brother-in-law Marcus Brisco, who facilitated the laundering of investor funds. The scheme also operated under the corporate name Yas Castellum, a front for moving money. Sims’ connection to OmegaPro made him a key focus of the CFTC investigation.

The asset seizures are not limited to Sims. Tran, identified as the scheme's owner, had two houses confiscated. One property in Katy, Texas, sold for $695,000 in May 2023, and another in Anaheim is also being liquidated. A third property in Santa Ana, California, is similarly being sold off. Authorities recovered $124,000 Tran had paid as a retainer to his lawyers.

Brisco lost a house in Maui, a Mercedes Benz, a Jeep truck, three watches, a laptop, and a cell phone. Francisco Story, who worked closely with Tran, had two motorcycles seized: a 2018 Triumph and a 2022 Kawasaki. The Triumph was abandoned after its lien value exceeded the motorcycle’s worth. Regulators are also pursuing Story’s interests in his bank and brokerage accounts.

Ted Safranko, another associate of Tran, has disappeared. The receiver attempted to serve Safranko with a subpoena for an asset deposition but could not locate him. Safranko has not responded to the CFTC’s lawsuit or complied with his legal obligation to turn over assets, records, and information to the Receiver.

Safranko is believed to be the primary link between SAEG and the larger Traders Domain Ponzi scheme, which collapsed concurrently with SAEG last year. The CFTC has filed for a default judgment against Safranko, which is still pending. His disappearance suggests he is evading pending civil litigation and potential criminal charges. The CFTC is pursuing charges against all involved parties.