BULLETIN: Troy Barnes, Kristi Johnson Invoke 5th Amendment In SEC’s Pyramid/Ponzi Case; Barnes Tells Agency He Is ‘Target’ Of Criminal Investigation; SEC Says Barnes ‘Discussed’ Moving ‘Victim Funds’ Outside Of United States

achievelogoBULLETIN: “Achieve Community” Ponzi/pyramid defendants Troy Barnes and Kristi Johnson have informed the U.S. Securities and Exchange Commission that they have invoked their Fifth Amendment right not to incriminate themselves in the agency’s civil case.

A deposition scheduled for Barnes Feb. 20 in Detroit was canceled. So was a deposition set for Johnson today in Denver.

Barnes, according to the SEC, advised the agency in an email that he consulted with an attorney and understands he is the “target of a criminal Investigation involving many of the same issues” before the SEC.

“If Deposed, I intend to take the Fifth Amendment in any and al[l] ongoing investigations Including Kristine Johnson, Work With Troy Barnes Inc. And The Achieve International LLC,” Barnes wrote.

Achieve allegedly operated through Work With Troy Barnes. Achieve International allegedly received ill-gotten gains from the fraud.

Precisely who is representing Barnes is unclear. Johnson is represented by David A. Zisser, a veteran securities attorney.

In court filings today, the SEC said it had learned Barnes “has discussed moving victim funds in this matter outside of the United States in a manner that would make recovery for the benefit of investors particularly difficult or impossible.”

When and with whom Barnes allegedly discussed moving the money are unclear. The SEC said today that, as a result of the asset freeze imposed Feb. 12 in the Achieve case, it has frozen more than $2.5 million.

Johnson, the agency alleged, “withdrew approximately $80,000 in TAC investor funds in cash from a TAC-related account or accounts” on Feb. 6, six days before the agency brought its fraud complaint and a judge imposed an asset freeze.

Although both Barnes and Johnson have stipulated to the entry of a preliminary injunction in the SEC case, Work With Troy Barnes Inc. and Achieve International LLC have not.  A hearing is set for tomorrow in Colorado.

If the corporate entities do not appear, the SEC said in court filings, the agency intended to ask a judge to extend the injunctions to the companies. And if the judge wanted to hear testimony, the agency said it has “two witnesses who are not local to Colorado, but rather reside in Washington, D.C. and North Carolina, respectively.”

These unidentified individuals could testify by telephone, the agency said.

NOTE: Our thanks to the ASD Updates Blog.

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13 Responses to “BULLETIN: Troy Barnes, Kristi Johnson Invoke 5th Amendment In SEC’s Pyramid/Ponzi Case; Barnes Tells Agency He Is ‘Target’ Of Criminal Investigation; SEC Says Barnes ‘Discussed’ Moving ‘Victim Funds’ Outside Of United States”

  1. Patrick I would like to say you and oz doing a great job in helping people worldwide so people don’t get scam out of there money thank you the truth has to be said even if it hurt Patrick who is this Nancy Jo Frazer I keep seeing on YouTube

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  2. Hi Patrick
    Can you folks investigate The Reach Society please l know for a fact the owner Myjhen
    Cabanag is not paying the members after they cycle … here is the fb group https://www.facebook.com/groups/thereachsocietyllc/
    here is her fb link :https://www.facebook.com/myjhen?fref=nf

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  3. Great job as usual Patrick – Thank you for keeping up with this one too..

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  4. @LB,

    Thank you. Hope you and yours are well.

    Patrick

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  5. I am from Nigeria. Troy Barnes and Kristi Johnson are criminals. They sent-up Achieve Community to collect our money illegally world-wide. I am a member of Achieve community and my statement of account will testify to the money withdrawn from my account using my ATM Matser-Card as payment for Achieve Community International. Please, Troy Barnes and Kristi Johnson, return our hard earned funds.

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  6. GILBERT: I am a member of Achieve community and my statement of account will testify to the money withdrawn from my account using my ATM Matser-Card as payment for Achieve Community International.

    Hello Gilbert,

    If I’m following you correctly, you purchased a “position” or “positions” from Achieve from Nigeria and used a MasterCard debit card or credit card. When the debit entry from your funding account was made, the entry noted the money went to “Achieve Community International.”

    Is this correct? Did it possibly read “Achieve International” or “Achieve International LLC,” rather than “Achieve Community International?”

    I’m also wondering about the dates of the transaction[s] and the Achieve URL from which you signed up.

    Your information suggests that Achieve Community had a means of segmenting U.S. domestic purchases from international ones and was using using a separate bank account and possibly a separate processor for overseas purchases.

    Patrick

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  7. When I purchased positions the money from my Mastercard showed up as deducted by Suyingshop.com Shenzen She. This happened to a lot of the other members as well.

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  8. Thanks you for this opportunity PATRICK. I also joined the Achieve Community with the hopes of being able to get discounts on marketing products as well as to make a profit on my $50 dollar purchases. I’m from Nigeria and I used VISA PREPAID CARD for my purchases, I paid Three Thousand, Two Hundred and Fifty US Dollars ($3,250.00) to the Achieve Community between 23 September through 04 November 2014, hoping to make a profit off of my $50 purchases. To my dismay, this never happened due to the fraud that occurred by the owners, Troy Barnes & Kristi Johnson. Please let me know if you need any documentation or further explanation to assist you in your investigations. I really want my money back.

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  9. I’m beating myself over the head for getting involved with this company. I invested $2500. My sister called my a fool and I cursed her for being negative. I failed miserably on this one. Luckily I did not put anymore money in it like a lot of people but it still bums me out that I was so naive. All that positive nonsense got to me. Strangely enough the SEC call me.

    Keep up the good work and great site. Expose these people for who they are.

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  10. I will send you details tomorrow. Thanks, Patrick.

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  11. I can’t believe that friends could do this to us. Let the world know about them and I hope they get their come uppance !! They cleared off with mine and a lot of other peoples monies !!

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  12. I too was scammed by Achieve Community. If there is anything I can do via phone , email, paper documentation, please contact me. I want these two , Kristi and Troy, to be punished for what they have done.

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