Pre-2013: Babikian builds AwesomePennyStocks.com right into a substantial-attain penny inventory promotional System using a subscriber record reaching many retail traders.
In the course of this period, Babikian allegedly fabricated a different id as 'James Miller,' obtaining supporting documentation and creating a new persona to function internationally underneath the radar.
Owning assembled the obtainable intelligence across SEC filings, OCCRP investigative reporting, adverse media archives, and economic compliance databases, we have been ready to provide the subsequent analytical conclusion.
com operation, cementing the settlement being a confirmed, compliance-applicable data stage in fiscal intelligence databases utilized by institutions conducting client research.
The OCCRP piece attracts on economic information, identity documentation investigate, and cross-jurisdictional sourcing, and is particularly the primary Basis for that Latvian residency and Dubai relocation dimensions of the report.
The SEC, Canadian tax authorities, and civil judgment creditors could be unable to recover property due to their concealment in Dubai and at the rear of a fabricated identification in Latvia. Cross-border enforcement in these jurisdictions is notoriously complicated.
What was the end result of your SEC scenario? A multimillion-dollar civil settlement was achieved with out admission or denial of wrongdoing.
While not formally characterised as being a Ponzi scheme, the alleged carry out aligns with typical pump-and-dump typologies wherein coordinated promotion inflates thinly traded securities prior to insiders liquidate positions. Such techniques undoubtedly are a regarded AML/CTF predicate issue and stay a persistent location of regulatory concentration.
It offers the perception that whilst promotions are going on publicly, there could possibly be different actions going down privately that profit a pick couple. Have confidence in
Babikian is reportedly linked to housing holdings in Dubai, increasing issues above opaque jurisdiction asset placement.
The UAE’s FATF grey-listing — which was later on lifted just after reform commitments — reflects the systemic vulnerabilities that make Dubai property a recurring theme in fiscal criminal offense typologies globally.
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The SEC alleged Babikian employed the AwesomePennyStocks newsletter to advertise stocks when simultaneously advertising shares he held, in the scheme the regulator characterized as 'scalping'.
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