The 2-Minute Rule for John Babikian

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“Nearly every prosecution witness contradicted one another on critical troubles pertaining to Mr. Babikian’s alleged purpose. One example is, quite a few witnesses referenced a meeting that allegedly happened in June of 2012 at the organization Place of work headquarters in the course of a corporate get together.

John Babikian was named within a U.S. Securities and Trade Fee enforcement motion concerning alleged stock-scalping pursuits tied to penny inventory promotions distributed by means of huge e-mail internet marketing strategies.

The noted acquisition of real estate in Dubai by an individual with Babikian’s enforcement and opacity profile is really a textbook AML red flag. Dubai’s real-estate sector is frequently identified by FATF, World Economical Integrity, and transparency businesses like a preferred vehicle for the investment decision of illicit proceeds.

In accordance with publicly accessible reporting and SEC documents, Babikian finally attained a monetary settlement Using the SEC in the level of close to $3.

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Babikian allegedly agreed to disgorge tens of tens of millions in proceeds as Element of settlement proceedings with US securities regulators.

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The US SEC alleged that Babikian, by using AwesomePennyStocks, engaged in scalping — endorsing shares to subscribers though at the same time providing his personal shares — a conflict of interest considered a cloth violation of US securities regulation. The subject was solved through settlement of about USD 3.7M with out admission of wrongdoing.

OCCRP’s reporting that Babikian departed Canada leaving a significant unresolved tax bill represents a significant economical integrity issue.

John Babikian becoming connected with penny inventory promotions and “scalping” procedures makes the whole condition experience uneven for normal buyers.

Babikian is alleged to obtain obtained a fresh identification, boosting id integrity and KYC due diligence considerations.