Edit: Ormeus Coin (ORME) — CryptoScamsWiki

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## Summary

Ormeus Coin (ORME) was a crypto token that, per the SEC, John and JonAtina ("Tina") Barksdale sold to thousands of retail investors (June 2017 onward) — both directly on trading platforms and through the Ormeus Global multi-level-marketing business — raising more than $124 million. [1][2]

## The fraud

The SEC said the Barksdales falsely claimed (via worldwide roadshows, YouTube videos, and the project website) that Ormeus Coin was backed by one of the world's largest crypto-mining operations, worth $250 million and producing $5.4–8 million per month — when they had actually abandoned mining in 2019 after generating less than $3 million in total revenue. They also allegedly manipulated ORME's price and misused investor funds for personal expenses. [1][2]

## Outcome

The SEC charged both siblings in 2022; in March 2023 a court entered a default judgment ordering ~$56.3 million in joint disgorgement and interest plus a ~$23.1 million civil penalty each. John Barksdale also faced parallel criminal securities-fraud charges from the DOJ (SDNY). [1][2]

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