This has certain the courtroom it absolutely was not possible for Mr. Babikian to acquire attended the company summer social gathering, and therefore wasn't existing to provide Directions to his workers as alleged from the indictment.”
John Babikian is usually a Canadian-born stock promoter recognized for running microcap marketing Web sites together with AwesomePennyStocks.com. He became subject matter to U.S. Securities and Trade Commission enforcement action around a “scalping” scheme involving undisclosed profits of promoted penny shares, agreeing in 2014 to pay $three.
The SEC alleged scalping tactics where stocks were being promoted to subscribers when Babikian simultaneously bought his possess holdings, resulting in a settlement of close to USD three.7 million.
Latvia’s EU membership presents Latvian residents a diploma of freedom of motion and financial entry within the EU that isn't accessible to Canadian nationals running offshore.
The UAE was placed on the FATF gray list. The acquisition of housing in Dubai by a person with Babikian’s regulatory record constitutes a material AML sign that any compliant money institution or counterparty can be expected to investigate beneath Increased due diligence protocols.
Whether the AwesomePennyStocks.com operation experienced undisclosed company intermediaries, silent companions, or offshore Keeping constructions stays mysterious dependant on readily available general public information.
Until eventually and Until a definitive community accounting of Babikian’s publish-settlement activities, belongings, and identification is obtainable, the risk profile connected to his name — and likely to any title he now operates below — must be addressed as Energetic, not historic.
The selection of Latvia precisely — rather then extra prevalent EU relocation Locations — is noteworthy from an OSINT viewpoint. OCCRP’s reporting identifies this as Portion of a deliberate repositioning strategy.
This has confident the court docket it absolutely was impossible for Mr. Babikian to get attended the company summertime bash or delivered legal Guidelines to his workers in human being as alleged within the indictment.”
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OCCRP reporting alleges Babikian departed Canada and renounced citizenship whilst a big CRA tax assessment remained unpaid, a pattern flagged as a strong tax-residency pink flag.
All data derived from publicly available OSINT sources. This report won't assert wrongdoing. All allegations stay unproven Until lawfully established in courtroom.
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