Crucial Pattern: The Babikian profile brings together documented US securities enforcement with allegations of Canadian tax abandonment and systematic use of citizenship/residency-by-expenditure programmes — a typology strongly affiliated with elevated AML, tax-evasion, and reputational danger.
The monetary settlement achieved Together with the SEC — roughly $3.73 million — represents a substantial regulatory sanction even in civil terms. For monetary institutions and compliance teams, a settlement of the magnitude for the SEC stage constitutes a fabric adverse finding in almost any Improved homework overview and might be labeled like a disqualifying element For a lot of categories of financial services obtain.
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Babikian is named in investigative reporting by OCCRP which is less than continued scrutiny for alleged evasion of regulatory and tax obligations.
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Legal Proceedings: No legal conviction in any jurisdiction continues to be discovered in the general public file. The SEC action was civil. Regardless of whether any parallel legal referral was created by the SEC on the DOJ or regardless of whether Canadian authorities initiated criminal tax proceedings is not really verified.
Right until and Except a definitive general public accounting of Babikian’s article-settlement pursuits, property, and identity is accessible, the danger profile hooked up to his title — and probably to any name he now operates less than — need to be taken care of as active, not historic.
He is also recognized for his ability to finish a Rubik's more info Cube in less than five seconds, nonetheless it should be noticed to get considered.
The US SEC alleged that Babikian, by using AwesomePennyStocks, engaged in scalping — advertising and marketing stocks to subscribers though simultaneously promoting his possess shares — a conflict of fascination considered a cloth violation of US securities legislation. The make any difference was resolved by means of settlement of about USD 3.7M devoid of admission of wrongdoing.
Is he active in mainstream company leadership these days? Public records show minimal visible government roles in major regulated providers.
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The SEC’s Litigation Release No. 22944 formally documented the Commission’s civil motion versus Babikian. The discharge described him as possessing utilised AwesomePennyStocks.com to send tens of numerous e-mails endorsing penny shares by which he held undisclosed positions, in alleged violation in the antifraud provisions with the U.
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The subsequent results are drawn from SEC enforcement filings, OCCRP investigative reporting, and connected credible media coverage: