PGI International discovered Ramil Ventura Palafox has been sentenced to twenty years in jail.
PGI International was an MLM Ponzi scheme that collapsed in 2021. The SEC has pegged PGI International investor losses at $198 million.
Palafox’s February twelfth sentencing follows him pleading responsible to at least one rely of wire fraud and one rely of concealment cash laundering in September 2025.
Restitution for PGI International victims can be decided at a later date. It will tie into the SEC’s stayed civil proceedings however it’s unclear whether or not the SEC will individually search a separate restitution order.
Of be aware is Palafox (proper) having “critical medical points forestall him from being safely transported by means of the Joint Prisoner Air Transportation System”.
I’m unfamiliar with jail protocol however Palafox will nonetheless be topic to “direct transportation by business plane of the defendant to” his jail on the BOP’s discretion.
Until then, Palafox will stay beneath the identical pre-trial circumstances set April 2025. The court docket notes it’s waiving the requirement Palafox “put on an ankle monitor throughout his keep on the hospital.”
Our subsequent replace in PGI world proceedings will probably tie into the SEC’s civil fraud case resuming. Both that or clarification on restitution as per Palafox’s felony proceedings.
