The Profit Connect Receiver and Juan Caminero, also known as John Caminero, have reached a settlement regarding Profit Connect fraud.
Caminero will reimburse $10,500 in accordance with a proposed settlement that was filed on January 22.
The Receiver’s investigation into Caminero revealed he received $32,354 from Profit Connect.
Upon further investigation, the Receiver contends that the Caminero funds were sent by Profit Connect to Caminero as “payment” for amounts “earned” and/or payment for reimbursement of purported expenses by Caminero when he was acting as an agent, servant, employee, and/or in concert with [the Profit Connect] Defendants.
Caminero argues that some of the Caminero Funds were used to cover services he rendered while working for Profit Connect for which he was compensated.
In the end, the money paid to Caminero was taken from the investors in Profit Connect.
On February 7, 2025, Caminero’s Profit Connect settlement was accepted. The compensation will be repaid by Caminero in $500 monthly installments.
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