Pre-Trial Services in the Central District of California has most likely stipulated and approved by the judge/court that Julian does not engage with the company or securities while he proceeds through trial and the order is modified based on circumstances and orders from a later date.
Since he decided that he is the only officer, and only director, and he decided to issued billions upon billions to shareholders all over the world, there are no shareholders left to fill the vacancy at the board.
There is nobody to sign board resolutions, no officer to engage in day to day operations, and no large shareholders to effect a written consent to enforce a shareholder action. Based on Nevada law, someone will petition the court in Nevada to take over the company and assign a trustee. But as we know there are more liabilities that assets, so the shareholders will get squat. And the SEC will file a 12(j) invoking Section 12(k) suspending the stock, and it will never trade again.
Julian's cohort in his arrest, Colin Nix faces life in prison.
Julian faces numerous charges, including $6.8 million in securities fraud. I am going to guess Julian pleads down in two years from now to 5-10 years inside a federal facility.
He will get 10 years probation, $6.8 million in restitution, a fine, and penalties, and if he does not pay, he will have to get incarcerated for violation of probation. He will be banned from the securities industry for life.
Guess what that means. He cannot pay $6.8 million without scamming shareholders. So he will fail to pay restitution and get picked up by probation and find himself doing more time.
That is what career criminals do.
