[1manband]

MNGG's scamming ex-CEO Joel Natario just got charged by the SEC for a new scam. It was a $10 million ponzi scheme.

Joel J. Natario; Jefferson Scott Baker

https://www.sec.gov/enforcement-litigation/litigation-releases/lr-26311
https://www.sec.gov/files/litigation/complaints/2025/comp26311.pdf

U.S. SECURITIES AND EXCHANGE COMMISSION

Litigation Release No. 26311 / May 23, 2025

Securities and Exchange Commission v. Joel J. Natario and Jefferson Scott (a/k/a “PATCH”) Baker, No. 25-cv-00895-JCM-EJY (D. Nev. filed May 21, 2025)

SEC Charges Promoters of Purported Merchant Cash Advance Business with Operating $10 Million Ponzi Scheme

On May 21, 2025, the Securities and Exchange Commission filed charges against Joel J. Natario and Jefferson Scott Baker for allegedly operating a Ponzi scheme that raised more than $10 million from approximately 23 investors.

According to the SEC’s complaint, between February 2020 and February 2021, Natario and Baker solicited and sold investments in a purported business venture involving merchant cash advances (“MCAs”)—short term loans to small businesses in need of immediate capital. The SEC alleges that Natario and Baker developed and utilized written MCA purchase agreements that falsely stated, among other things, that investor proceeds would be used to fund a portion of the MCAs and that investors would earn rates of return from 16% to 18% for every twelve-week investment period. As alleged, in reality, there was no MCA venture and no MCAs were made. Instead, according to the complaint, purported returns paid to investors were financed, not by actual MCA transactions, but, at least primarily, by other investors’ money. The complaint further alleges that Natario and Baker engaged in additional fraudulent conduct to create the false and misleading appearance that the MCA venture was successfully yielding profits and that investor funds were safe, including by deploying a deceptive online investor portal and disseminating a fake bank account statement to at least one investor.

The SEC’s complaint, filed in the United States District Court for the District of Nevada, charges Natario and Baker with violating Section 17(a) of the Securities Act of 1933, and Section 10(b) of the Securities Exchange Act of 1934 and Rule 10b-5 thereunder. The SEC seeks injunctive relief, disgorgement with prejudgment interest, and civil penalties against both defendants.

The SEC’s investigation was conducted by Thomas E. Woods IV and Karaz S. Zaki under the supervision of David Frohlich and Michael Brennan, all of the Home Office. The litigation will be led by Nick Margida and supervised by James Carlson.

[bwmgftw]

Wondering if it will trade again soon. Once gold is done pulling back here, maybe 3k or so, the next leg up to 4k+ begins.

[DDA]

What I find stranger is that first we got the news we're back in business trading gold and than ... nothing ...

[ZenDwarf831]

Thanks for explaining. It's strange they're doing this though. Then again nothing makes sense anymore.

[bwmgftw]

Gold is ramping again hard. If it gets to $3,500 - $4k and this
starts trading again, could be a huge gap up as very few people own this.

Of course I'm long and understand this can go to 0.

[getmoreshares]

foreign brokers can buy and sell. USA can ONLY SELL. It must return to pinks to become tradable for USA traders.

[ZenDwarf831]

How can the stock rise if it can never be bought? Why would anyone buy this stock if it could never be sold? I own a lot of useless pink sheet stocks, but I now couldn't buy more? This is crazy. How are people going buy in a pump? Any info would be great. thx.

[getmoreshares]

most USA brokers will not trade an expert stock- they allow sells-- no buys

[bwmgftw]

Saw a mil trade yesterday, don't know if it means anything. First trade in awhile.

[Penny2Dime]

Need to wait by Summer IMO!

[bwmgftw]

I'm still long here 14mil. If this trades again I believe it will 10x or higher.
Of course I'm an idiot, so dyodd. No risk, no reward. #otc for life.

[Lime Time]

Attorney Letter is good til July to get current. Then OTCM requires a Management Cirtification, which is basically a simple form to be submitted correctly. Looks like it will still need a review by lawyer or at least the OK to use name.

[Penny2Dime]

With the new Penny stock regulations , just attorney letter is enough to make it current?!

[Lime Time]

Yes. For now to sum it up the situation pretty much sucks. But we've been here before and then it ran again.

[Penny2Dime]

What a shame!

[Lime Time]

Back to Expert Market again today, 12/30 MNGG. Hopefully it sees another pump in 2025. I was going to dump some of this out as tax loss today. Decided to keep it for 2025.

Happy Holidays and Happy New Year

[Iggy_Bot]

No idea, just hoping 2025 is a turn around.

[calluch]

Why did they spend all that money to bring the company back from the dead just to kill it again? How does that make any sense?

[Iggy_Bot]

Could be a 2025 come back.. we can only hope. glta

[Penny2Dime]

Patience pay off imo!

[harr449]

Was able to sell a few million shares at .0001 Limit Order thru Fidelity.

Took awhile. Need tax loss.

Schwab message said CALL BROKER TO SELL.

[bwmgftw]

Up to 13mil and done buying. I expect a pump shortly [obviously, or I wouldn't be here].
Making this trade purely on TA [technical analysis].
I see exhaustion of sellers.

[bwmgftw]

I've bought 2mil today, and am long 9mil now. At .0001 this is a no brainer, and the technical chart on the monthly is starting to show a positive divergence in money flow [mfi14], momentum [14], stoch [14]. Macd histogram looks good as well.

[DDA]

Let's hope so, got some millions of shares lined up to catch the light ...

[Penny2Dime]

Correct!!

[starman2]

There's a lightening storm.. Quick, raise the body

[Penny2Dime]

I think so!

[Lime Time]

Are they ever gonna pump this again

[camarotyphoon]

my sell order is in since days. sill no order done
nothing but manipulation here

[getmoreshares]

another slap! 11m- hope there is an update-- not just a P&D

[Ribo]

Moon coming??!! 🌙

[Buck_eye38]

Do we know anything?

[rkk45300]

I didn't hear anything. Please report anything you know

[starman2]

Hey, alright Nelson. Good to hear from you.

[starman2]

Thanks

[Nelson2]

Dude! That’s f——-g hilarious!

GLTU

[DDA]

Yep, it's dead ...

[starman2]

Has anyone tried poking it with a stick?

[rkk45300]

Is anyone knows is will be any upcoming news in the next few months

[Teddytropics]

Thank you..

[calluch]

None

[Teddytropics]

Has there been a lot of dilution here since the new guys came in? Thanks in advance..

[Ribo]

Pink Limited

[CryptoRain]

Tweet..miro
“Shadi? Should say Clueless! $mngg. CEO is OK with us,I can only serve 1 master. CEO Eu lawyers unregistered co from SEC! (Dumb move IMO) Shady basher comparing a beat up co to #1 most traded co on OTC with billionaire backers! Sorry I don't stand down to Bashers & bullying.”

[Buck_eye38]

So basically a smoke screen.

[CryptoRain]

Yeah they tweeted me back that they were only involved to get them out of expert market

[getmoreshares]

nope- did not know

[CryptoRain]

So did anyone here know that mngg was only a “client” of min*ma* until getting out of expert market? Thats news to me

[Buck_eye38]

Been had... this is nothing.. scam

[DDA]

Pffffff... where's the money