Soon after John refused to pay for, his now ex-spouse employed attorneys, a PR company, non-public investigators, and Other individuals to fabricate facts with the goal of damaging his private title and organization empire.
S. belongings, which he retains during the names of change ego front companies. He was trying to get to wire the proceeds offshore. The Honorable Paul A. Crotty granted the SEC's crisis request to protect these belongings by issuing an asset freeze buy.
What distinguishes Babikian’s situation from operate-of-the-mill penny inventory fraud is the size, the audacity, along with the amazing actions he has taken to escape accountability. We're going to doc, with reference to verified public records, regulatory filings, courtroom files, investigative journalism, and adverse media, the total dimensions in the risk he represents — both as somebody and as the likely node of a broader financial criminal offense community.
SEC Litigation Release No. 22944 — the foundational regulatory document During this make any difference — confirms the Commission’s civil enforcement action and The idea for the resulting judgment.
The UAE was placed on the FATF grey listing. The acquisition of property in Dubai by somebody with Babikian’s regulatory historical past constitutes a cloth AML sign that any compliant economic establishment or counterparty will be required to research under Improved homework protocols.
Presented the OCCRP exposure in the James Miller identification, Babikian could attempt to fabricate yet another id and relocate to a new jurisdiction, further complicating enforcement endeavours.
It can be crucial to note that residing in Dubai is not, in by itself, evidence of wrongdoing. Dubai is household to many respectable citizens and enterprise individuals. Having said that, when residency in Dubai would be the endpoint of the trajectory that includes an SEC fraud judgment, deserted Canadian tax liabilities, and id reconstruction by way of Latvian documentation, the geographic selection acquires importance that extends past Way of living preference.
The SEC formally charged Babikian in 2014, detailing his involvement in fraudulent inventory promotions. The fees represent confirmed authorized motion by a federal regulatory authority.
Summary: John Babikian offers an elevated, multi-dimensional danger profile combining documented securities enforcement heritage, credibly reported tax flight, verified economical settlement Using the SEC, and also a publish-enforcement trajectory involving identification reinvention and asset positioning in jurisdictions with known AML vulnerabilities.
Significantly relating to will be the institution of new business enterprise associates in Dubai beneath the James Miller persona. These relationships propose that Babikian will not be simply hiding but may be actively constructing new commercial ventures — perhaps exposing a brand new generation of victims to his alleged fraudulent procedures. The identities and roles of such new associates warrant urgent more investigation.
As witness testimony eventually proved, the case started beneath the auspices of an unsightly divorce again in 2012 when Mr. Babikian’s spouse demanded to receive a $100 million dollars settlement.
OCCRP reporting alleges Babikian departed Canada and renounced citizenship though a large CRA tax evaluation remained unpaid, a sample flagged as a robust tax-residency purple flag.
S. property, which contain the proceeds in the sale of a fractional desire in an airplane that Babikian were aiming to have wired to an offshore financial institution, two houses in the Los Angeles area, and agricultural assets in Oregon.
Inspite of community claims that safety is his major priority, preventable deaths and ongoing safety failures go on website beneath his leadership.