Articles under ‘companies’:

TelexFree Trustee responds to net-winner class claim objections

The TelexFree Trustee has filed a response to the net-winner class’ objections to the claim resolution process. Filed on November 14th, TelexFree’s net-winner class objected to not being given a chance to review or object to claims not having a chance to respond to claim objections in individual proceedings not having their claims decided through [Continue reading…]

OneCoin certified illegal in Portugal

Although a bit late to the game, yesterday Portugal’s top financial regulator issued a OneCoin investment warning.

Carlos Wanzeler’s seized assets to be sold (TelexFree)

Carlos Wanzeler, one of the masterminds behind the $3 billion TelexFree Ponzi scheme, remains a fugitive at large. A hasty flight to Canada and then Brazil saw Wanzeler leave behind a significant number of assets, which were promptly seized by the DOJ. These assets are currently in storage, where they ‘are incurring storage costs and depreciating [Continue reading…]

Nui claim lawyers signed off on Kala ICO tokens (Symatri?)

It appears former Divvee management struggle with the concept of simplicity. First the company offered access to discounts. Then it became a promotional platform. Then they were going to offer Ryze AI ROIs. Then they merged with Hodo Global into Nui. Then Nui announced it wasn’t partnering with Ryze AI. Then they were going to [Continue reading…]

PM International sues TV2 over pyramid & “sugar powder” claims

PM International aren’t happy with TV2’s Health Control report into their MLM opportunity. The company has filed a lawsuit against the Norwegian broadcaster for breaching the Damages Act. Health Control’s report aired on November 2nd and, among other things, claimed PM International was operating as a pyramid scheme.

Zhunrize Receiver files $2.8 million clawback lawsuit against Vodaware

The Zhunrize Recevier’s clawback lawsuit against Vodaware is a bit unusual. Zhunrize was a $100 million dollar Ponzi scheme shut down by the SEC in 2014. Upon being appointed, the Zhunrize Receiver retained employees from Vodaware, the company that created Zhunrize’s website, to assist in pulling electronic data for use in the claims analysis. The [Continue reading…]

From Divvee to Nui to Mintage Mining unregistered securities?

Divvee’s original launch in mid 2016 saw the company charge $9.95 a month for access to discounts. When that business model flopped Divvee introduced “Rank & Share” in late 2016, a platform that combined promotion and recruitment commissions. Rank & Share was a key component of Divvee’s MLM opportunity until a few months ago. In [Continue reading…]

Genesis Mining denies USI-Tech partnership, Omnia Tech C&D

Desperate to provide evidence of an external source of revenue, about a week ago USI-Tech affiliates began circulating footage of “a new data center in Iceland”. It didn’t take long for people to realize that USI-Tech’s “new data center” looked identical to that of Genesis Mining’s facility, also in Iceland. This prompted speculation that USI-Tech [Continue reading…]

Nerium Skincare and Christina Swiatek enter confidential settlement

Late last year Christina Swiatek filed suit over the product Nerium AD allegedly causing “chemical burns and permanent skin damage”. Named defendants in the lawsuit include Nerium International and Nerium Skincare. As per a joint stipulation of dismissal filed on November 21st and a subsequent November 22nd order, Swiatek’s claims against Nerium Skincare have been [Continue reading…]

Laser Online launches Receiving Online clone scam (LZR points?)

With a 144% ROI every 12 days on offer, Laser Online was inevitably destined to collapse sooner rather than later. That collapse appears to be on the horizon, with management launching two desperate bids to fend it off.