Securities and Exchange Commission v. Eric J. “EJ” Dalius et al., No. 2:18-cv-08497 (C.D. Ca. filed Oct. 3, 2018)
WASHINGTON – The Securities and Exchange Commission has charged an individual and seven corporate entities that he controlled with defrauding investors through the promotion and operation of a multimillion dollar Ponzi and pyramid scheme.
The SEC alleges that Eric J. “EJ” Dalius, who pled guilty in 2001 to criminal charges in connection with a long distance phone card scam, and the companies he controlled under the umbrella name “Saivian,” sold securities that entitled holders to receive 20% cash back on their shopping purchases in exchange for paying a fee of $125 every 28 days, and submission of receipts.