Articles under ‘companies’:

Back in March the SEC filed a complaint against Vizinova owners Renato Rodriguez and Gutemberg Dos Santos. The SEC alleged Vizinova was a $5 million dollar Ponzi scheme. BehindMLM reviewed Vizinova in 2014 and concluded the same. Rather than contest the allegations and clear their name, both Rodriguez and Dos Santos settled. On June 8th, [Continue reading…]

Following criminal charges filed against Richard Maike back in April, Maike, his wife and several top Global1Entertainment affiliates have been indicted. Named in the indictment are Richard Maike, Doyce Barnes, Richard Anzalone, Faraday Hosseinipour, Dennis Dvorin and Jason Syn. Maike’s wife Angela R. Leonard-Maike is also a named defendant.

Estonia’s Financial Supervision Authority (FSA) is the country’s top financial regulator. Following increased interest and participation in Skyway Capital, the FSA issued an investment warning back in April.

Initially targeted at South America and Europe, the D9 Clube Ponzi scheme has since spread to west Africa. In a move to stem propagation of the scam across Rwanda, the National Bank today banned D9 Club. According to the National Bank of Rwanda, D9 Clube is

David Wood has always come across as a bit of an oddball. Used to the best of his ability to promote Empower Network, it’s resulted in a string of hit and miss marketing attempts over the years. We last checked in on Wood and Empower Network earlier last year. Coming of the back of several [Continue reading…]

The MLM underbelly doubler business model is nothing new. Affiliates sign up and invest, with a 200% ROI offered either via a set timetable or open-ended. The only source of revenue to pay the ROI is subsequently invested funds, making every doubler a Ponzi scheme. HYIP scams have been using it with fiat currency for [Continue reading…]

With twenty-four OneCoin affiliates already behind bars, Indian authorities are closing in on top Indian OneCoin affiliates. The latest out of India is reports that the Economic Offenses Wing are “hunting” four Indian nationals and Mary Beyance and Ereena Andreva.

For his part in aiding and abetting William Apostelos to run a $70 million dollar Ponzi scheme, attorney Steven Scudder was criminally charged early last year. Scudder plead guilty to one count of wire fraud in January and was up for sentencing this week.

OneCoin’s days in Norway appear to be numbered, following a request to the company’s Norwegian lawyer for information on local affiliates.

Charles Scoville is currently at the center of regulatory action against the Traffic Monsoon Ponzi scheme. After the granting of a preliminary injunction against Traffic Monsoon, based on the likelihood of the SEC winning at trial, Scoville filed an appeal. The appeal is still playing out in court, with a decision expected to be many [Continue reading…]