Michael Shannon Sims

Key Points

• Michael Shannon Sims, aka Mike Sims, is implicated in multiple Ponzi schemes, including OmegaPro and The Traders Domain, allegedly defrauding investors of over $145 million, with OmegaPro losses estimated at $4 billion by Turkish authorities.
• The CFTC filed charges in January 2023 against Sims for his role in the SAEG Capital and Yas Castellum Ponzi schemes, accusing him of money laundering and fraud. He settled these charges in August 2024 for $250,000.
• Sims is linked to other failed schemes like Meta Bounty Hunters and Meta Bounty Huntresses, run by associates Holton Buggs and Travis Bott, suggesting a broader network of fraudulent activities.
• Public sentiment, as seen in X posts and reports, is overwhelmingly negative, with accusations of deceit and financial devastation. Sims claims to be a victim in a video, but this is widely disputed.
• His current whereabouts are unclear, with reports suggesting he resides in Florida or Georgia, and he has taken steps to limit public exposure, such as privatizing his Instagram.

Overview

Michael Shannon Sims, known as Mike Sims, presents himself as a 20-year veteran entrepreneur and business consultant with expertise in network marketing, cryptocurrency, and forex trading. Based in North Miami Beach, Florida, or possibly Roswell, Georgia, Sims claims to have founded and led multiple startups, focusing on leadership development and financial forecasting. His LinkedIn profile lists him as a consultant at Krag Capital, emphasizing skills in venture capital, public speaking, and crisis management. However, Sims is most prominently associated with OmegaPro, a collapsed Ponzi scheme he co-founded in 2018, promising 200% returns over 16 months, and The Traders Domain, another failed scheme linked to him. Currently, Sims faces significant legal scrutiny from the CFTC and Turkish authorities, with his reputation tied to allegations of fraud and money laundering.

Allegations and Concerns

• OmegaPro Ponzi Scheme (2018–2022): Sims co-founded OmegaPro with Andreas Szakacs and Dilawar Singh, promising 200% returns. The scheme collapsed in November 2022, with Turkish authorities estimating $4 billion in victim losses. Sims is accused of channeling OmegaPro funds into The Traders Domain, another Ponzi scheme.
• The Traders Domain Fraud: Sims is alleged to have facilitated money laundering for The Traders Domain, which took in $3.3 billion and collapsed in late 2022. He reportedly directed funds to entities controlled by Tin Quoc Tran, misrepresenting their use.
• SAEG Capital and Yas Castellum Schemes (2020–2022): The CFTC charged Sims in January 2023 for his role in these interconnected Ponzi schemes, defrauding 913 participants of $144 million. Sims allegedly assisted in transferring funds to non-trading entities, knowing they wouldn’t be used for legitimate forex or gold trading.
• Meta Bounty Hunters/Huntresses Connection: Sims is linked to these failed Ponzi schemes run by Holton Buggs and Travis Bott, with allegations of recruiting iBuumerang affiliates into The Traders Domain via ellev8.
• Deceptive Public Statements: In a video post-collapse, Sims claimed to be a victim, denying ownership of OmegaPro and stating he resigned before its fall. These claims are contradicted by his documented role as a co-founder and his CFTC charges.
• Privacy Measures: Sims privatized his Instagram after BehindMLM reported his Florida residence in September 2022, suggesting an attempt to evade scrutiny.

Customer Feedback

No direct customer reviews are available in the sources, as Sims operated through investment schemes rather than consumer-facing businesses. Feedback is inferred from public sentiment, legal documents, and X posts:

• Negative Feedback: An X post reflects victim outrage, stating, “OmegaPro was a scam that left thousands broke, and Mike Sims was at the heart of it. His video claiming he’s a victim is laughable.” This aligns with reports of massive losses ($4 billion per Turkish authorities) and accusations of deceit.
• Legal Complaints: The CFTC lawsuit details 913 pool participants losing $144 million in the SAEG/Yas Castellum schemes, with no evidence of funds being used for promised trading, indicating widespread investor harm.
• Sims’ Defense: In a video, Sims said, “I’m super upset… I want to help everyone discover what happened, where these guys are, because I don’t like the situation,” presenting himself as a cooperative victim. This is widely dismissed as implausible given his founding role and legal charges.
• Positive Feedback: No positive reviews or endorsements are documented, likely due to the collapse of Sims’ schemes and the severity of fraud allegations.

Risk Considerations

• Reputational Risk: Sims’ association with multiple collapsed Ponzi schemes and his CFTC settlement have destroyed his credibility, with public and regulatory distrust making him a toxic figure in business circles.
• Legal Risk: Ongoing investigations by Turkish authorities into OmegaPro and potential U.S. charges for The Traders Domain expose Sims to further prosecution. His $250,000 CFTC settlement does not cover these larger schemes.
• Financial Risk: Frozen assets from the CFTC’s February 2023 restraining order and potential restitution for billions in losses threaten Sims’ personal wealth. No bankruptcy is noted, but financial strain is likely.
• Operational Risk: Sims’ ability to launch or join new ventures is severely limited by his legal status, frozen assets, and public exposure as a fraudster.
• Associational Risk: Connections to other alleged scammers (e.g., Szakacs, Singh, Buggs) increase scrutiny on any future collaborations, deterring legitimate partners.

Business Relations and Associations

• OmegaPro Co-Founders: Sims co-founded OmegaPro with Andreas Szakacs (arrested in Turkey, July 2024) and Dilawar Singh, both implicated in the scheme’s collapse.
• The Traders Domain: Sims worked with Tin Quoc Tran, Marcus Brisco (his brother-in-law), and Ted Safranko, transferring funds to Tran-controlled entities. Brisco and Safranko are also CFTC defendants.
• Meta Bounty Hunters/Huntresses: Holton Buggs and Travis Bott, who ran these schemes, are linked to Sims through recruitment into The Traders Domain via ellev8, an iBuumerang affiliate platform.
• Krag Capital: Sims lists himself as a consultant at Krag Capital on LinkedIn, but no details confirm its legitimacy or activities.
• iBuumerang and ellev8: Buggs’ MLM travel business and forex platform facilitated recruitment into Sims’ schemes, suggesting a broader MLM fraud network.
• CFTC Defendants: Other Yas Castellum/SAEG co-defendants include Francisco Story and SAEG Capital General Management LP, indicating a coordinated fraud operation.

Legal and Financial Concerns

• CFTC Lawsuit (January 2023): Sims was charged for his role in the SAEG Capital and Yas Castellum Ponzi schemes, defrauding $144 million. He facilitated money laundering by directing funds to non-trading entities. A February 2023 restraining order froze his assets, and he settled in August 2024 for $250,000.
• OmegaPro Investigation: Turkish authorities are probing OmegaPro’s $4 billion in losses, with no U.S. charges filed yet. Sims’ co-founder Szakacs was arrested, signaling potential escalation.
• The Traders Domain Losses: Estimated at $3.3 billion, this scheme’s collapse has not yet led to specific U.S. charges against Sims, but his role is documented.
• Asset Freeze: The CFTC’s 2023 restraining order and March 2023 preliminary injunction froze Sims’ assets, with a receiver appointed to manage related funds.
• No Bankruptcy or Debts: No bankruptcy filings or unpaid debts are noted, but potential restitution for billions in losses looms as a financial threat.
• Unrelated 2021 Conviction: A separate Michael David Sims was convicted in Kansas for criminal restraint and battery, but this is likely a different individual, as no connection to fraud or Panama is evident.

Risk Assessment Table

Expert Opinion

Michael Shannon Sims emerges as a professional fraudster whose involvement in OmegaPro, The Traders Domain, and SAEG/Yas Castellum schemes reveals a pattern of calculated deception. The CFTC’s $250,000 settlement confirms his role in laundering $144 million, while Turkish authorities’ $4 billion loss estimate for OmegaPro underscores the scale of his impact. Sims’ video claiming victimhood is a transparent attempt to deflect responsibility, contradicted by his founding role and documented money transfers. His ties to MLM figures like Holton Buggs and platforms like iBuumerang suggest a sophisticated fraud network, exploiting trust in network marketing. The establishment narrative, backed by CFTC filings and media, is compelling, but Sims’ lack of a public defense raises questions about whether he’s being scapegoated for larger systemic issues in MLM Ponzi schemes. Regardless, the evidence against him is damning.

Pros:

• Sims’ 20-year entrepreneurial experience demonstrates business acumen, albeit misused in fraudulent schemes.
• His network of MLM and crypto contacts could theoretically be leveraged for legitimate ventures, though this is unlikely given his status.

Cons:

• Legal liabilities, including a $250,000 settlement and potential restitution for billions, make Sims financially radioactive.
• Reputational damage from Ponzi scheme collapses and public outrage precludes credible business activities.
• Ongoing investigations, especially in Turkey, heighten the risk of further charges or extradition.
• Associations with known scammers deter legitimate partners, isolating Sims professionally.

Cautionary Advice: Avoid any engagement with Michael Shannon Sims or his ventures, including Krag Capital or future startups. His history of Ponzi schemes, confirmed by CFTC charges and massive investor losses, marks him as a high-risk individual. Verify any claims of business success through court records or regulatory filings (e.g., CFTC.gov). Investors or partners should steer clear of MLM or crypto schemes linked to Sims’ associates, such as Buggs or Szakacs, due to associational risks. Monitor BehindMLM and FinanceFeeds for updates on OmegaPro and The Traders Domain investigations, as new charges could escalate Sims’ liabilities. If approached by Sims, report to the CFTC or FBI’s IC3 (ic3.gov) to protect against fraud.

Key Citations

• Gripeo: “Michael Shannon Sims- Is He an MLM Scammer?” (September 26, 2023).
• FinanceFeeds: “CFTC Charges Tin Quoc Tran As Ringleader Of $145 Million FX Ponzi Scheme” (February 24, 2023).
• BehindMLM: “Mike Sims settles SAEG fraud charges for $250,000” (September 19, 2024).
• BehindMLM: “Mike Sims consents to Yas Castellum Ponzi injunction” (March 31, 2023).
• Reportedelaeconomia.com: “¿Michael Shannon Sims, a.k.a. Mike Sims, estafador cabecilla de OmegaPro o ‘víctima’?” (November 19, 2023).
• CFTC.gov: Search Content on Yas Castellum and SAEG charges (October 10, 2024).
• LinkedIn: Michael (Mike) Shannon Sims’ profile at Krag Capital.