Accused Shopping Receipt Ponzi Schemer Ends Case for $24 Million

A man with a criminal history will pay $24 million, with his company, to settle SEC allegations that he operated a Ponzi scheme that was also a paid-membership pyramid scheme purporting to monetize shopping receipt data.

Eric J. “EJ” Dalius and Saivian LLC must pay $3 million in civil penalties within 30 days, and the full $21 million in disgorgement and prejudgment interest within one year, according to a judgment entered Tuesday in the US District Court for the Central District of California.

Dalius pleaded guilty to conspiracy charges after a January 2000 fraud indictment, according to the Securities and ...