EmpiresX · Project dossier · Crypto Newsroom

What the evidence supports

Only claims cited in the visible editions appear here. Each retains its own evidence status.

Statements and quotations retain the editorial or source language.

[1]Adjudicated finding
Joshua David Nicholas pleaded guilty in September 2022 to conspiracy to commit securities fraud, admitting misrepresentations about the EmpiresX trading bot and guaranteed returns.
Supporting excerpt: EmpiresX Head Trader Pleads Guilty to Global Cryptocurrency Investment Fraud Scheme that Amassed Approximately $100 Million from Investors
pleaded guilty today to conspiracy to commit securities fraud
EmpiresX Head Trader Pleads Guilty to Global Cryptocurrency Investment Fraud Scheme that Amassed Approximately $100 Million from Investors ↗
Source language: EN · Captured Oct 22, 2026
[2]Adjudicated finding
On 4 February 2025, the CFTC reported default judgments against Emerson Pires, Flavio Goncalves and Joshua Nicholas. Pires and Goncalves were jointly and severally ordered to pay more than $32 million in disgorgement and $96 million in penalties; Nicholas faced separate amounts. The order found that a displayed brokerage account was fabricated and that the business had no account with the named trading platform. These findings go beyond the earlier report of Nicholas's guilty plea.
Supporting excerpt: Florida Court Orders Brazilian Nationals to Pay Over $128 Million for Fraudulent Commodity Pool Scheme | CFTC
issued an order of default judgment
Florida Court Orders Brazilian Nationals to Pay Over $128 Million for Fraudulent Commodity Pool Scheme | CFTC ↗
Source language: EN · Captured Oct 22, 2026
[3]Source reported
FTC consumer guidance warns about promised or guaranteed cryptocurrency profits.
Supporting excerpt: What To Know About Cryptocurrency and Scams | Consumer Advice
Nobody can make those guarantees.
What To Know About Cryptocurrency and Scams | Consumer Advice ↗
Source language: EN · Captured Oct 22, 2026