Overview

• The indictment alleges that Michael Shannon Sims and Juan Carlos Reynoso ran OmegaPro as a multi-level marketing scheme promising investors 300% returns over 16 months through virtual currency-based forex and crypto trading.
• Prosecutors say the defendants used lavish global promotions, including projecting the OmegaPro logo onto Dubai’s Burj Khalifa, to lend legitimacy and lure thousands of victims.
• After OmegaPro claimed a network hack in January 2023, investors were told their funds had been transferred to a platform called Broker Group but were never able to withdraw money.
• More than $650 million in victim funds allegedly passed through executive-controlled virtual wallets before being funneled to insiders to obscure their origins.
• The case is being led by the Justice Department, FBI, IRS Criminal Investigation and Homeland Security Investigations with support from international partners as asset-forfeiture proceedings move forward.