John Monarch, Shutdown by the SEC, Has Links to $100M+ Alleged Bank Fraud Scheme

“This has to be one of the biggest internet scams I have ever personally seen even if it is for relatively small amounts of money.  Why they continue to get away with this is mind boggling.”

“They are a bait and switch, they offer the 30-day “risk-free” and 14-day trial, however the fine print is how they take advantage of you and charge you extra, including doubling shipping charges.”

The alleged bank fraud scheme that John Monarch has links to is still running under the statute of limitations for mail fraud and wire fraud prosecutions which is five years (18 U.S.C. § 3282), except for mail and wire fraud schemes that affect a financial institution, in which case the statute is ten years (18 U.S.C. § 3293).   It appears that in Monarch’s case both statutes would apply.

The USA Herald cannot confirm nor deny whether the FBI is investigating Monarch.   Typically the SEC brings its action first with the DOJ to follow.    It is possible that Monarch committed a federal crime when he took money from Shipchain investors under alleged false pretenses, as we’ve reported here in the past.   Many of Monarch’s investors in  Shipchain took to the internet to lament over lost money.