U.S. Securities and Exchange Commission Litigation Release No. 26539, dated April 24, 2026.
John Fernandez and his companies, Avail Progression and Elite Generators, defrauded investors by promising guaranteed returns through forex trading. Instead, Fernandez used the majority of the funds for Ponzi payments and personal expenses. The SEC obtained a final judgment against them, ordering disgorgement, interest, and civil penalties.
Imagine someone promises to grow your money by trading in a special market. They say they'll give you a guaranteed profit every month. But instead of trading your money, they use it to pay off earlier investors and for their own spending. That's what happened here, and now the government has stepped in to stop it and get some money back for the people who were tricked.
Disclaimer: all facts are drawn from the SEC's own filings; the claims described are allegations unless and until a court rules or the parties settle, and some cases end in dismissal.
On April 14, 2026, the U.S. District Court for the Southern District of Texas entered a final judgment against John Fernandez, Avail Progression, LLC, and Elite Generators, LLC. The judgment permanently enjoins the defendants from violating federal securities laws, bars Fernandez from issuing or selling securities (except for his own accounts), and prohibits him from serving as an officer or director of a public company. The defendants are ordered to pay disgorgement of $5,002,383.00 and prejudgment interest of $1,626,707.93 on a joint and several basis. Fernandez is also ordered to pay a civil penalty of $472,902.00.