Mining Capital Coin Review- Scam

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I’m not sure of all the details, but there has been a change in the way the preliminary injunction for Mining Capital Coin is handled. On May 10, the case docket showed that a hearing for a preliminary injunction would take place on May 19.   

Instead, on May 18th, a Magistrate Judge filed a “report and recommendation” (R & R).   

The good news is that the filing suggests giving a preliminary injunction.   

According to the R&R, the SEC has shown enough evidence to get a preliminary injunction against all of the defendants. So, I respectfully suggest that the motion’s request for a preliminary injunction be granted.   

“We have talked about the SEC’s request for a preliminary injunction before.” 

In his argument against the motion, defendant Luiz Carlos Capuci (right) said that, even though the motion was wrong, because he was running away to Brazil in the middle of an investigation, the SEC had to find a way to serve process on him (for the preliminary injunction that was asked for); and the SEC didn’t have the right to get involved because “the securities scheme described in the Complaint was centered on foreign investors and only involved a small number of U.S. investors as an afterthought.” 

Both defenses were turned down by the Magistrate Judge.   

Emerson Sousa Pires, who is also being sued by the SEC, hasn’t done anything to help the case.   

When the SEC called Pires’ lawyer during their investigation, they were told that the lawyer was no longer working for Pires. 

During the SEC investigation, Pires also ran away to Brazil. If you read between the lines, it sounds like Pires, who is Brazilian, thinks he can’t be reached in Brazil.  And it’s possible that he is.

“Brazil does not extradite its nationals.”   

Capuci and Pires’s decision to go to Brazil was certainly a factor in the Magistrate’s decision.   

The defendants seem to know that what they did was wrong, and at least one of them, Capuci, is said to have sold off a number of assets and left the U.S. for Brazil after the SEC sent subpoenas as part of its investigation.

The Court also points out that both Capuci and Pires were called to testify during the SEC’s investigation of this case, but they both said they were protected by the Fifth Amendment. Also, the SEC says that both Capuci and Pires are thought to be in Brazil. Due to the defendants’ lack of remorse and how easy it would be for them to start up a similar scheme on the internet, the court has decided that a preliminary injunction is needed to stop them from breaking securities laws again in the future.   

If you don’t agree with the R & R filings, you have until June 1st to say so. After that, it is likely that Mining Capital Coin, Capuci, and Pires will be given a preliminary injunction.   

On June 2, 2022, Capuci’s lawyers replied to the R & R filings by saying that they were wrong. The TRO has been extended until June 13 by the court.   

I’m not sure if the SEC will answer Capuci’s objections or if the court will just take them into account at the preliminary injunction hearing, which hasn’t been set up yet.   

I’ll come back early next week to see if the docket has changed.

I’m not sure of all the details, but there has been a change in the way the preliminary injunction for Mining Capital Coin is handled. On May 10, the case docket showed that a hearing for a preliminary injunction would take place on May 19.    Instead, on May 18th, a Magistrate Judge filed a…

I’m not sure of all the details, but there has been a change in the way the preliminary injunction for Mining Capital Coin is handled. On May 10, the case docket showed that a hearing for a preliminary injunction would take place on May 19.    Instead, on May 18th, a Magistrate Judge filed a…

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