Angel Rodriguez settles $12 mill fraud case with SEC

Angel Rodriguez settles $12 mill fraud case with SEC

Angel Rodriguez has settles a $12 million fraud case filed against him by the SEC.

On September 5th, 2024, the court issued a final judgment at the request of the SEC. Rodriguez consented to the motion, constituting an effective settlement.

As per per the terms of Rodriguez’s consented to order, he will pay

$45,000 in disgorgement$6204 in prejudgment interest anda $45,000 civil penalty

Undisclosed balances in various bank and Coinbase accounts held in Rodriguez’s name, frozen as part of the SEC’s proceedings, were also ordered turned over to the SEC.

The SEC sued Rodriguez and co-defendants Dan Putnam and Jean Paul Ramirez in mid 2020.

The regulator alleged the trio defrauded consumers through his Modern Money Team, Eyeline Trading and WealthBoss Ponzi schemes.

Ill-gotten gains received through Putnam’s scams were laundered through R & D Global LLC and MMT Distribution LLC, also named defendants.

 

Judgment was ordered against R & D Global and MMT Distribution on January 6th, 2023 – the same day judgment was ordered against Daniel Putnam (right).

Judgment was ordered against Jean Paul Ramirez on January 24th, 2023.

Over $16 million in disgorgement and monetary relief was ordered against Putnam and Ramirez on September 10th, 2024.

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