An indictment was unsealed in the District of Puerto Rico charging two men for their roles in operating and promoting OmegaPro, an international investment scheme accused of defrauding investors of over $650 million.
According to court documents, Michael Shannon Sims, 48, from Georgia and Florida, was a founder, strategic consultant, and promoter of OmegaPro. Juan Carlos Reynoso, 57, from New Jersey and Florida, led OmegaPro’s operations in Latin America and parts of the United States, including Puerto Rico.
“As alleged, the defendants preyed upon vulnerable individuals in the U.S. and abroad, defrauding them of over $650 million by making false promises of substantial returns and that their money was safe,” said Matthew R. Galeotti, Head of the Justice Department’s Criminal Division. “The Criminal Division is committed to prosecuting these bad actors and pursuing justice for their many victims. Thanks to the dedicated work of our multiagency and international law enforcement partners, we are leading efforts to combat these complex and insidious digital asset investor scams.”
U.S. Attorney W. Stephen Muldrow for the District of Puerto Rico commented on the case: “As alleged in the indictment, the defendants operated a global fraud scheme through OmegaPro that deceived investors with false promises of extraordinary returns only to misappropriate hundreds of millions of victim funds. We remain committed to dismantling international financial schemes that target U.S. victims — including here in Puerto Rico — and to recovering illicit proceeds through criminal prosecution and asset forfeiture.”
“The FBI will not stand by while the American public is defrauded,” stated Assistant Director Joe Perez of the FBI Criminal Investigative Division. “Through coordination with our partners, these individuals will have to defend their actions in a court of law.”
“This case exposes the ruthless reality of modern financial crime,” noted Chief Guy Ficco from IRS Criminal Investigation (IRS-CI). “OmegaPro promised financial freedom but delivered financial ruin – stealing over $650 million from everyday people and vanishing it into virtual currency."
Ricardo Mayoral from U.S. Immigration and Customs Enforcement Homeland Security Investigations (HSI) emphasized international cooperation: “This case highlights the critical role international partnerships play in dismantling transnational financial fraud schemes that exploit global markets."
Sims allegedly misled victims by vouching for OmegaPro’s trading performance while Reynoso claimed it was operating under a legitimate license or not subject to legal rules anywhere. The indictment alleges lavish promotional events were held worldwide to convince investors about OmegaPro's legitimacy.
The indictment claims Sims and Reynoso profited millions as they transferred raised funds first into virtual currency wallet addresses controlled by OmegaPro executives before dispersing them further.
Both defendants face charges including conspiracy to commit wire fraud and conspiracy to commit money laundering with potential maximum penalties reaching 20 years imprisonment per count if convicted.
The investigation involves multiple agencies such as FBI’s Virtual Asset Unit along with HSI offices across various cities globally alongside other national enforcement bodies like J5 alliance members from Australia, Canada among others.
Trial Attorneys Ariel Glasner along with Tamara Livshiz are prosecuting this case alongside Assistant U.S Attorney Jonathan Gottfried who is currently detailed within Computer Crime & Intellectual Property Section.
Individuals believing themselves victimized by OmegaPro or possessing relevant information can reach out via provided contacts at FBI’s Victim Witness website or email address specified for assistance.
It should be noted all allegations remain just that until proven otherwise within judicial proceedings where innocence remains presumed till guilt stands established beyond reasonable doubt.
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