An indictment has been unsealed in the District of Puerto Rico, charging two individuals for their alleged involvement in a $650 million investment scheme through OmegaPro. Michael Shannon Sims and Juan Carlos Reynoso are accused of operating and promoting the fraudulent scheme.
According to court documents, Sims, from Georgia and Florida, was a founder and promoter of OmegaPro. Reynoso, from New Jersey and Florida, led operations in Latin America and parts of the U.S., 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,” stated Matthew R. Galeotti, Head of the Justice Department’s Criminal Division.
U.S. Attorney W. Stephen Muldrow commented on the global fraud scheme: “As alleged in the indictment, the defendants operated a global fraud scheme through OmegaPro that deceived investors with false promises of extraordinary returns.”
The FBI is also involved in the case. Assistant Director Joe Perez said, “The FBI will not stand by while the American public is defrauded.”
IRS Criminal Investigation Chief Guy Ficco noted, “This case exposes the ruthless reality of modern financial crime.”
International cooperation played a key role as well. Ricardo Mayoral from Homeland Security Investigations emphasized this: “This case highlights the critical role international partnerships play in dismantling transnational financial fraud schemes.”
Sims and Reynoso allegedly promoted OmegaPro as a multi-level marketing scheme offering investment packages with falsely promised high returns via forex trading by elite traders.
The indictment claims Sims misled victims about OmegaPro’s trading performance while Reynoso falsely claimed it operated under a legitimate license.
The FBI, IRS-CI, and HSI New York are investigating with assistance from various international law enforcement agencies.
Trial Attorneys Ariel Glasner and Tamara Livshiz are prosecuting alongside Assistant U.S. Attorney Jonathan Gottfried.
Individuals who believe they may have been victimized by OmegaPro can contact authorities through specified channels.
An indictment is merely an allegation; all defendants are presumed innocent until proven guilty beyond a reasonable doubt.
