Who Is Eric Dalius – Is the Man Behind Saivian Ponzi Scheme

Eric Dalius SEC Penalty

For the last few years, Eric Dalius constantly found a way to get into the news with progress in his Saivian case. Since the SEC has filed a lawsuit against him, he has been facing justice really hard.

This article will reveal the story behind it, more previous links, and the current standings of Eric’s Saivian Ponzi plot. Additionally, it will cover the next moves and how this man is still on the road to another potentially fraudulent scheme.

Who is Eric Dalius?

Eric Dalius portrays himself as a tech entrepreneur, empathetic to the world’s well-being. However, he has been involved in many swindling, deceitful, and fraudulent crimes in the past. In fact, he is still running multiple fraudulent companies, and some of them are being sued.

The man graduated in 1992 from Penn State University with a degree in Marketing. But most of his marketing and business models are subjected to lawsuits and raises questions about its legitimacy. In this process, he has been jailed and millions of dollars in fines. Still, he is submerged in various deceitful ventures, such as (the topic in discussion) the Saivian Ponzi Scheme.

Eric Dalius Roles and Careers

Today, Eric Dalius considers and presents himself in multiple roles. Currently, he is a tech entrepreneur, marketing executive, crypto investor, and even real estate investor. As a result, he has started several projects, where most of them are questioned for illicit and fraudulent ventures, while some are considered neutral or progressive.

MuzicSwipe, a music-sharing platform, has not been subjected to raising finger. Multiple initiatives, such as the Eric Dalius Foundation and related projects are considered quite helpful to students and needy families. Now, given the past life and the recent Saivian Ponzi case, the intent behind these projects becomes doubtful.

Read: Another Backstab to Community By EJ Dalius

The Beginning of Saivian Case

Savian was the project launched in October 2015, which promised an unreal cashback of 20% on shopping. People only have to send them a picture of the receipt and they will get a cashback to the account.

For this privilege, it charges $125 from its subscribers every 28 days. Although there was nothing wrong with the platform, as several companies were (and are) already operating on the same principles, the percentage (20%) triggers alarms in higher authorities.

Eric Dalius SEC Penalty

The Securities and Exchange Commission (SEC) filed a case against Eric Dalius, the owner that his company is allegedly operating a Ponzi scheme in the name of Saivian and promising fraudulent cashbacks. The complaint reports Eric doesn’t have any solid financing support. Instead, it claims a return to investors from the investments of other people.

The Convicted Past

What made the case against Eric Dalius strong is his shady and quite criminal background which dates back to 2001. In 2001, he was accused and demanded to clarify activity about frauding several investors by carrying out a multi-level marketing (MLM) business. He still has failed to provide any evidence or report to either support his claim or nullify the allegations.

In addition to this conviction, he also faced hearing on mail fraud and credit card fraud in 2000, for which he was also sentenced to five years in prison. Plus, the court fined Dalius $250,000.

With such a shady and convicted past, his Saivian venture becomes even more questionable and suspicious, given the fact he is offering insane cashback value without any accountable funding partner. What makes it worse is his involvement in these cases is based on fraud and swindling, putting investors’ money at risk (proven right in a while).

Allegations Against Eric J. Dalius

SEC imposes multiple allegations on EJ Dalius that perfectly fit the picture of his lifestyle and the working mechanism of the Saivian group. As per the SEC claims, Eric has generated more than $165 million from the scheme by frauding investors and further stole a significant portion to finance his luxurious life.

From the subscription fee that he charges from the members, he invested most of it into the purchase of Bitcoin (risking their investments in a highly volatile market). But the list doesn’t end here, but it becomes even worse.

SEC questions the accountability of Eric’s Saivian platform and states that from the investments of tens of millions of dollars, he purchased himself opulence and luxuries, like private jets, VIP island vacations, expensive entertainment and sports trips and tickets, a $500,000 Lamborghini, and several multi-million properties in NYC and Miami Beach.

Effects of Tightening Shackles Around Eric

To such a deceitful person, the SEC allegations and the lawsuit actions finally bear results. Due to his already shady past and previous suspicious ventures, Eric Dalius is fined $24 million in disgorgement to his Saivian revenue, which also includes other prejudgment interests and several other penalties.

The tremendous sum of this fine is a collection of three different penalties, including:

  • $20 million that he will pay in disgorgement
  • $1.5 million civil penalty
  • Nearly $1 million ($919,215 to be exact) in prejudgement interest

In addition to the already fined $1.5 million civil penalty. He is ordered to pay an additional $1.5 million afterward, making the total sum $24 million.

In order to cover up the huge chunk of these fines, Eric J. Dalius recently sold his waterfront North Bay Road mansion in January 2023. He bought this mansion with his wife in 2017 for $16.5 million. However, he sold it in the first month of the last year for $24.8 million.

A Man Who Learned Nothing

Although this one mansion sale put him off the cases, he made multiple other properties from the illegal money he made via the Saivian Ponzi scheme. It also included a Manhattan townhouse, which he bought for $10.3 million in 2016.

So, have the heavily fined Saivian case and the prison sentence shown Eric some light? Nope, didn’t learn from his mistakes. In fact, he is further on a mission to expand his notorious and wicked legacy.

In 2021, EJ Dalius launched MuzicSwipe, a platform where fans meet artists via swiping their clips. If people like a clip, they swipe. Three swipes and they are matched with the song. Nothing’s wrong, or is it? According to SimilarWeb, the MuzicSwipe didn’t even get 1000 visits in December 2022, and in January 2023, it surged to more than 30,000. Now, if this is not suspicious then what?

A New Plot in the Making

MuzicSwipe may seem harmless at first sight, but it can be a ploy for something even bigger. According to some reports and evidence, Eric has been constantly traveling between Colombia and Dubai. The reason behind these flights appears to be the establishment of Naivias (which is exactly the backward spelling of the infamous Saivian).

The financing of his ventures is still vague and hidden. Is it the next big Ponzi or Pyramid scheme in the making? It is unclear for now, but soon it will appear. However, due to the not-so-convincing background and questionable recent approaches made this Naivias project another threat to multiple individuals’ financial statuses.

Final Words

The 2001 Multi-Level Marketing (MLM) sentence was not an eye-opener for Eric Dalius, as he started Saivian in 2015. However, it soon grabs the attention of the SEC, and he even has to lose his almost $25 million North Bay Road mansion. But even this was not enough.

In 2021, Eric started MuzicSwipe, which might be the cover and funding company for Naivias (a Saivian’s backward). It’s just a hope that if Naivias is another ploy to swindle people and risk their investment, it gets to authorities’ notice without someone hurting.

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