Oscar Garcia has been removed from the SEC’s ongoing Batched inquiry.
According to a Wells release from October 2024.
Garcia (right) was notified by the SEC that it had “concluded the investigation as to you.”
We do not plan to suggest that the Commissioner take enforcement action against you based on the facts we currently have.
The SEC recommends, citing “the final paragraph of Securities Act Release No. 5310”;
In no way should this notification be interpreted as suggesting that the party has been cleared or that the staff’s inquiry will not lead to any action.
Batched participated in a brief revival of the fraudulent investment scam known as Uulala. Following Garcia’s 2021 settlement of Uulala fraud allegations with the SEC, Uulala relaunched with a cryptocurrency node investment plan.
Garcia held Batched co-founder Frank DiCrisi (right) accountable for Uulala and Batched’s demise in January 2023.
In late 2022, Garcia revealed an SEC inquiry against Batched via court documents.
DiCrisi sold Batched to Savvy Wallet as part of the collapse of Uulala and Batched’s node investment program.
It is believed that DiCrisi and Gregory Baum, his business partner at Savvy Wallet, used Savvy Wallet to launder Traders Domain Ponzi monies.
Garcia claims that Traders Domain money laundering started as early as Batched in a different California action against DiCrisi and Baum.
In October 2024, The Traders Domain was charged with fraud by the CFTC. The CFTC’s Complaint does not identify DiCrisi or Baum as defendants.
Batched investors were being drawn into Micah Theard’s defunct CashFlow NFT Ponzi scam as of May 2023.
Garcia would later work as a financial advisor for the defunct NextGen Ponzi scam after being batched.
However, as of October 2024, Garcia is no longer involved, therefore it is unclear how the SEC’s Batched inquiry is progressing.
In his lawsuit in California, Garcia claims that DiCrisi and Baum have been “non-responsive” for the last two months. Garcia explains this by saying that DiCrisi and Baum are now “busy with other cases.”
