Overview

• Michael Shannon Sims and Juan Carlos Reynoso are charged with conspiracy to commit wire fraud and conspiracy to commit money laundering, each count carrying up to 20 years in prison.
• Prosecutors allege that the OmegaPro scheme used a multi-level marketing model to lure thousands of investors with promises of 300% returns over 16 months.
• After a claimed network hack in late 2022, victims were told their funds were shifted to a new platform called Broker Group but were unable to withdraw their investments.
• The investigation has been led by the Department of Justice with support from the FBI, IRS Criminal Investigation, Homeland Security Investigations and international partners.
• Authorities are pursuing asset forfeiture and restitution for victims as the case moves toward trial in the District of Puerto Rico.