SOUTHERN DISTRICT OF ILLINOIS
Re: United States v. NICHOLAS A. SMIRNOW, 10-M-6147-CJP
The United States Department of Justice believes it is important to keep victims of federal crime informed of court proceedings. This notice provides information about the above-referenced criminal case
Filing of Criminal Complaint
On Friday, May 28, 2010, a criminal complaint was filed against NICHOLAS A. SMIRNOW, 53, of Buck Estate, Alfonso, Davite, Philippines, formerly of Baysville, Ontario, Canada arising out of his operation of an internet investment scheme called “Pathway to Prosperity.” The complaint, the affidavit which describes the evidence in support of it and the press release describing the complaint can all be accessed through links on this page. The complaint alleges that Pathway to Prosperity was a massive international investment scam that promised unattainable and unrealistic investment returns. It further alleges that Pathway to Prosperity was a Ponzi scheme in which investors who received returns on their investments received, not legitimate earnings from legitimate investments, but investment funds contributed by later investments. The complaint alleges that there were few, if any, legitimate investments.
According to the complaint, Pathway to Prosperity victimized over 40,000 investors on 6 continents, as well as U.S. residents in 48 states.
Shortly, a request will be submitted to the government of the Philippines for the extradition of SMIRNOW to the United States.