The Court Responds To ROFX Victims' Default Judgment Motion

Plaintiffs assert a slew of claims against 42 defendants in this nine-count civil Racketeer Influenced and Corrupt Organizations Act (RICO) complaint originating from the design and operation of RoFx, an allegedly fraudulent investing business.

A Clerk's default has been recorded against 26 Defendants, seven Defendants have not yet been served, three Defendants are in settlement negotiations with Plaintiffs, and six Defendants have been dismissed, according to a Court-Ordered administrative status report.

Since that administrative status report, the Court has dismissed six further Defendants without prejudice, and the Plaintiffs have filed a notice of voluntary dismissal against three other Defendants.

Plaintiffs urge that the Court grant a default judgment against the following Defendants in their motions: Dmytro Fokin; Ivan Hrechaniuk; Manuchar Daraselia; Brass Marker s.r.o.; Sergiy Prokopenko; Profit Media Group LP; Auro Advantages, LLC; Borys Konovalenko; Mayon Holding Ltd.; Marina Garda; Mayon Solutions Ltd. (“Mayon UK”); Olga Tielly; Notus, LLC; Global E-Advantages, LLC;

Both motions were submitted to the Magistrate Judge for a Report and Recommendations by United States District Court Judge Robert N. Scola. The Magistrate Judge recommends that the District Court allow the motions in part and reject them in part.

In summary, the Magistrate Judge recommended the following for each count/Defendant:

• RICO Count I: The Magistrate Judge recommends that the Plaintiffs' motion for a default judgment be refused by the District Court.

• The Magistrate Judge recommends that the District Court denied the Plaintiffs' motion for a default judgment in Count II (RICO Conspiracy).

• Count III (Common Law Fraud): The Magistrate Judge recommends that the District Court approved the Plaintiffs' motion for default judgment on Count III against Defendants Mohylny and The Investing Online in its entirety. Furthermore, the Magistrate Judge recommends that the District Court approve Plaintiffs Leonov, Zarley, and Parent's motion for default judgment against Defendant Ester Holdings while denying Plaintiffs Birmingham and Hansen's request.

• The Magistrate Judge recommends that the District Court denied the Plaintiffs' motion for a default judgment in Count IV (Conspiracy to Commit Fraud).

• The Magistrate Judge recommends that the District Court denied the Plaintiffs' motion for a default judgment in Count V (Aiding and Abetting Fraud).

• The Magistrate Judge recommends that the District Court denied the Plaintiffs' motion for a default judgment in Count VII (Conspiracy to Commit Conversion).

• The Magistrate Judge recommends that the District Court denied the Plaintiffs' motion for a default judgment on Count VIII (Aiding and Abetting Conversion).

• Count IX (Unjust Enrichment): The Magistrate Judge respectfully recommends that the District Court grant Wealthy Developments, Notus, Global E-Advantages, Easy Com, ShopoStar, Grovee, Trans-Konsalt, Art Sea Group, VDD, Brass Marker, Profit Medica Group, and Auro Advantages' request for default judgment. Furthermore, he suggests that the District Court denied the Plaintiffs' motion with regard to all other Defendants.

The parties will have 14 days from the day they are served with a copy of this Report and Recommendations to submit written objections with the District Judge if any. Within 14 days, each party may submit a response to the other party's objection.

You can find out more of RoFx news here: https://www.wikifx.com/en/dealer/5451844975.html

Stay tuned for more Forex News.

Download the WikiFX App from the App Store or Google Play Store to stay updated on the latest news.