About a week ago BehindMLM reported on the collapse of Oscar Garcia’s Batched Ponzi scheme (formerly Uulala).
Following months of declined earnings, Batched investors were locked out of their accounts in early January.
As part of our coverage, BehindMLM learned of and reported on an SEC investigation into Batched and Garcia.
The SEC has since let us know they are interested in speaking with Uulala and Batched investors.
The SEC’s investigation into Batched was confirmed following Garcia’s attempt to block a financial records subpoena.
The SEC sought details of Garcia’s Mechanics Bank account, believing Garcia had transferred Uulala and Batched investor funds through the account.
Garcia’s case ultimately went in favor of the SEC, meaning Garcia had to turn over the requested records.
Outside of the subpoena, court filings revealed the SEC are investigating Garcia and Batched over potential securities fraud. This pertains to the “validation nodes” scheme Uulala and Batched investors participated in.
As part of their ongoing investigation, the SEC is interested in speaking to Uulala and Batched investors.
Uulala and Batched investors wishing to make contact with the SEC can reach out to DoHoang T. Duong @ DuongDo@sec.gov