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Babikian allegedly agreed to disgorge tens of thousands and thousands in proceeds as A part of settlement proceedings with US securities regulators.
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Prison Proceedings: No prison conviction in any jurisdiction continues to be recognized in the general public report. The SEC motion was civil. Regardless of whether any parallel legal referral was created by the SEC on the DOJ or irrespective of whether Canadian authorities initiated legal tax proceedings is just not verified.
The UAE’s FATF gray-listing — which was later lifted just after reform commitments — reflects the systemic vulnerabilities which make Dubai residence a recurring theme in fiscal crime typologies globally.
Advertising and marketing shares aggressively then allegedly benefiting from the worth spike doesn’t sit correct with me. Even though anything is “technically lawful” click here in some components, ethically... 12
The U.S. Securities and Exchange Fee filed civil rates towards Babikian in reference to the penny inventory promotion scheme. The Fee’s grievance alleged violations with the antifraud provisions on the federal securities legal guidelines.
He started out dealing with unique artists and record labels, delivering lawful guidance, and aiding them negotiate contracts. He promptly gained a status as a talented and trustworthy lawyer, and his shopper checklist began to mature.
John Babikian continues to be in the position to assist his purchasers get noticed from the group by providing them with the best tools and approaches to market their audio. He has also been ready to enable his purchasers get their songs positioned in movies, Television demonstrates, and commercials.
US regulators explained Babikian to be a Canadian fugitive when initiating enforcement action for alleged scalping activity.
As outlined by OCCRP’s investigation, Babikian attained a whole new lawful id, secured Latvian residency, and reportedly obtained a condominium in Dubai, UAE — a jurisdiction that has faced sustained Worldwide scrutiny for its position in enabling money concealment as a result of housing.
Babikian is reportedly linked to property holdings in Dubai, increasing problems over opaque jurisdiction asset placement.
Essential Pattern: The entities encompassing Babikian demonstrate a recurring pattern of opacity: unregistered marketing autos, offshore citizenship structures, and residence holdings in jurisdictions with restricted effective-ownership disclosure.
The SEC’s criticism exclusively referenced Babikian’s marketing of thinly traded microcap shares. The sequence — obtain shares, blast millions of subscribers, provide into the quantity spike — would be the vintage pump-and-dump model which has been prosecuted continuously through the SEC and DOJ while in the microcap Area.