Articles under ‘companies’:

OneCoin warning issued by the Bank of Mauritius

In what appears to be a response to solicitation of investment into OneCoin across the country, the Bank of Mauritius has issued a public warning.

OneCoin cops 2.5 million euro pyramid scheme fine in Italy

The Italian Antitrust and Consumer Protection Authority has fined OneCoin 2.5 million euro for being a pyramid scheme.

Pay Diamond criminal case to be opened in Paraguay

Appearing on CFA Radio, Fernando Escobar, President of Paraguay’s National Securities Commission (CNV), has revealed Public Prosecutor’s are likely to file a criminal case against Pay Diamond.

Waszupp Global Review: $35 matrix Ponzi cycler

I first came across Waszubb Global under the company name Waszupp Network. The Waszupp Mentor Network website names Blaine Williams (Wealth Creation Alliance Ponzi), Fred Bender, Ricky Howe and Mark Campese (Paycation) as Global Directors of the company. Further research however reveals Ash Sahib (full name: Ashraf Ash H Sahib) is credited as founder and [Continue reading…]

Chris Principe’s motion for entry of default rejected (OneCoin)

Chris Principe’s defamation case against Tim Tayshun continues, with the latest seeing a motion for entry rejected and filed answer to Principe’s complaint. Less than twenty-four hours after the deadline to respond had passed, Chris Principe’s attorney filed for an entry of default with the Court Clerk.

Is Forever Living Products encouraging affiliate autoship recruitment?

Forever Living Products’ Leadership Bonus pays affiliates on sales volume generated down three Manager generations. To qualify for the bonus affiliates must meet sales volume requirements, which can be met entirely with self-purchase (no retail). The volume can of course be also generated via retail sales (or a combination of retail and personal purchase), and [Continue reading…]

Receiver decides Traffic Monsoon victims will not file written claims (updates)

A common trait of multi-million dollar Ponzi schemes is a lack of independent accounting on the backend. Records are stored higgledy-piggledy and often riddled with errors and/or incomplete. Traffic Monsoon is no exception, with the Receivership currently sifting through millions of transaction records in an attempt to forensically piece together the business. While circumstances might change [Continue reading…]

Connie Apostelos sentenced to 30 months prison (Genesis Acquisitions)

Connie Apostelos used her share of funds stolen through Genesis Acquisitions to fund $35,000 a month in expenses for her horse racing company. She also had a $400 a month Victoria’s Secret lingerie habit. Connie and her husband William ran the $70 million dollar WMI Enterprises Ponzi scheme. WMI Enterprises was made up of a [Continue reading…]

D9 Clube raided by police in Brazil

Despite promises to continue running the scam on Facebook, authorities are closing in on D9 Clube in Brazil. Following a six month investigation, Brazilian police launched operation Giza on Thursday morning. Operation Giza saw search warrants issued and raids conducted at ten different locations.

Empower Network is bankrupt, David Wood explains all?

When David Wood last appeared in public, the situation appeared rather grim. Obviously under the influence of something, Wood appeared disheveled and suffering from an acute case of “God complex”. That was early June. Less than a fortnight later Wood’s brother William walked out and since then things have been quiet. With the future of [Continue reading…]