John Barksdale
Co-creator of Ormeus Coin who led worldwide roadshows promoting it with false claims of a $250M mining operation. The SEC won a default judgment over the $124M fraud, and the DOJ brought parallel criminal securities-fraud charges.
Also known as: John Barksdale
Note: The SEC obtained a civil default judgment; John Barksdale also faced criminal charges, which (per the public record) had not resulted in a conviction.
Bio
John Barksdale, with his sister JonAtina ("Tina") Barksdale, created and promoted Ormeus Coin, holding global roadshows and producing videos that falsely claimed the token was backed by a $250 million crypto-mining operation. The SEC said they raised over $124 million while abandoning real mining in 2019. [1][2]
Status
The SEC charged Barksdale in 2022 and obtained a March 2023 default judgment (joint ~$56.3M disgorgement/interest; ~$23.1M penalty). The DOJ (SDNY) brought parallel criminal securities-fraud charges. [1][2]
Bracketed numbers refer to the numbered sources listed below.
Linked scams & cases
Sources (2)
See also
- Bitcoin Latinum (LTNM)TokensA ~$16M token offering (SAFTs for 'Bitcoin Latinum' / LTNM) that the SEC charged in 2026 as fraud: founder Donald Basile falsely called LTNM 'the world's first insured digital asset' backed by an 'existing trust,' neither of which existed, and diverted investor funds for personal use (including a $160,000 horse).
- Loci (LOCIcoin)TokensA 2017–2018 ICO for 'LOCIcoin' tied to the InnVenn IP-search platform. The SEC charged Loci and CEO John Wise with fraud for raising $7.6M on false claims about revenue, headcount, and user base; Wise also misused investor funds. Settled with a $7.6M penalty and an officer/director bar.
- Blockchain Terminal (BCT)Tokens
This page was last updated on Jun 8, 2026. View revision history.