Friday, November 18, 2022

Pelahatchie Pig Lady to Pay Up in Fraud Case

The Pelahatchie Pig Lady, aka Cheri Bowen, will pay the SEC an amount to be determined at a later date after the agency sued her for participating in a ponzi scheme.  The ponzi scheme involved the selling of bogus cryptocurrency.

The SEC sued Bowen on August 1 in the U.S. District Court of Northen Illinois.  An SEC press release stated:

The Securities and Exchange Commission today charged 11 individuals for their roles in creating and promoting Forsage, a fraudulent crypto pyramid and Ponzi scheme that raised more than $300 million from millions of retail investors worldwide, including in the United States. Those charged include the four founders of Forsage, who were last known to be living in Russia, the Republic of Georgia, and Indonesia, as well as three U.S.-based promoters engaged by the founders to endorse Forsage on its website and social media platforms, and several members of the so-called Crypto Crusaders—the largest promotional group for the scheme that operated in the United States from at least five different states.

According to the SEC’s complaint, in January 2020, Vladimir Okhotnikov, Jane Doe a/k/a Lola Ferrari, Mikhail Sergeev, and Sergey Maslakov launched Forsage.io, a website that allowed millions of retail investors to enter into transactions via smart contracts that operated on the Ethereum, Tron, and Binance blockchains. However, Forsage allegedly has operated as a pyramid scheme for more than two years, in which investors earned profits by recruiting others into the scheme. Forsage also allegedly used assets from new investors to pay earlier investors in a typical Ponzi structure.

The Pig Lady ate quite well at the trough.  The SEC said Bowen was a co-founder of the Crypto Crusaders group and a Forsage promoter. The complaint stated Bowen: 

has been a participant and co-host of many of the webinars hosted by Martinez on the Crypto Crusaders YouTube channel. Bowen has prior experience participating in MLM projects. Upon information and belief, she holds Forsage Ethereum IDs XX7957 and XX9418; and Forsage Tron ID XX1742; among others. Bowen declined to respond to the Commission’s subpoena during its investigation or appear for testimony....

Since the summer of 2020, Martinez hosted twice-weekly webinars on the Crypto Crusaders YouTube channel. On Mondays, he held webinars for individuals who had already invested in Forsage. These “training” webinars often included testimonials, as well as tips on social media marketing and responding to investor questions. Shepperd, Theissen, Bowen, and Deering regularly appeared on these webinars as “leaders.” On Wednesdays, Martinez hosted his so-called “Weekly Webinars” that were aimed at recruitment. These typically included a 30-minute presentation on Forsage Ethereum (and later Tron), followed by testimonials from Forsage investors within the Crypto Crusaders group. The testimonials uniformly highlighted how much the person had invested and how much they had earned in a short period of time....

In a webinar entitled “Weekly Forsage Training 2-17-2021,” Bowen told viewers she joined Forsage as a Level 8 for $3,100 on June 8, 2020 and had made $1.1 million in eight months..... Two days after that, Bowen hosted a webinar on the Crypto Crusaders’ YouTube channel where she advised her audience not to list Forsage’s name in any Facebook posts because, according to Bowen, people would Google Forsage and see videos and articles that it was a Ponzi scheme.

 

 

Bowen did not fight the charges but agreed to a partial judgment on September 1.  The motion for entry of partial  judgment by consent states:

Bowen also has agreed to a partial settlement of the SEC’s claims. Attached as Exhibit 1 is her signed consent to the proposed partial judgment. This judgment obviates the need to litigate substantive liability on the part of Bowen, and it permanently enjoins her from violating the federal securities laws at issue in the complaint as well as from engaging in certain other activity. The proposed judgment further provides that monetary relief sought by the SEC – in the form of disgorgement, prejudgment interest and a civil penalty – shall be determined by the Court at a later date on the SEC’s motion. We anticipate moving for such monetary relief after the claims against the remaining Defendants are resolved.

 The case is still pending against several defendants.  

Bowen is known for her pigs in Pelahatchie.

 


5 comments:

Anonymous said...

Uh-oh! The price of her Kunekune pigs just went up! Glad I got mine before she inflates their price to cover her judgment. Those gonna be some expensive damn pigs now!

Anonymous said...

Thank god I took that Udemy course about making money with the Blockchain. I knew to avoid these pitfalls. I already made my millions during the Covid lockdowns and sold my stakes as soon as I saw every greenteeth hillbilly scrambling to get in on some random shitcoin rug-pull, and/or buy a dozen Nvidia GPUs to mine etherium!

Anonymous said...

I knew there was no way her husband was making that kind of money being a plumber. They lived redneck bougee. Sh recently had a post on FB about scammers using CashApp. That's rich!

Anonymous said...

No pics? You know the rules.

Anonymous said...

Pics? I'm here for the comments.


Recent Comments

Search Jackson Jambalaya

Subscribe to JJ's Youtube channel

Archives

Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
.