Articles under ‘companies’:

Bank of Ghana issues MMM Ghana investor warning

One of the more pervasive Ponzi schemes that refuses to die is MMM Global. Founded by Sergey Mavrodi and with origins dating as far back as 1994, MMM Global collapsed last year. Due to the scheme using bitcoin and Mavrodi walking away scott free, total investor losses were never quantified. The aftermath of MMM Global’s [Continue reading…]


Daniel Filho intends to plead insanity (DFRF Enterprises)

For the past couple of month, practically anything of interest in Daniel Filho’s criminal trial has been filed under seal. Filho founded and ran the DFRF Enterprises Ponzi scheme. He was arrested back in July, 2015 but has yet to stand trial. The only information I’ve been able to glean thus far is that Filho is [Continue reading…]


PayPal sued for facilitating Traffic Monsoon Ponzi fraud

Known throughout the MLM underbelly for it’s prohibition of Ponzi and pyramid schemes, PayPal nonetheless still pops up as a payment processor for various schemes. The problem with PayPal’s current fraud detection mechanisms is that, by the time it’s detected, the damage has already been done or PayPal quietly freeze the account. No information is [Continue reading…]


Xango acquired by Zija International

On May 6th, Xango announced it had been acquired by Zija International. Xango market mangosteen juice and Zija a range of moringa-based supplements. As per a press-release issued on the Xango website;


German Public Prosecutors investigating OneCoin reps for fraud

In the aftermath of BaFin’s regulatory ban of OneCoin on April 28th, promotion of OneCoin in Germany has come to a screeching halt. Yesterday, top German affiliate Udo Deppisch was forced to cancel two OneCoin events in Germany that had been organized prior to the ban: Not content with having thwarted the scheme locally, now the [Continue reading…]


Hungarian authorities put together massive OneCoin taskforce

The bad news for OneCoin continues, with the Hungarian Central Bank today announcing a joint investigation with various police departments and tax authorities.


Another $3.7 million in OneCoin funds seized in India

With the glitz of the Global Macau event come and gone, it’s back to reality for OneCoin affiliates. As authorities in India continue to investigate the scam, the latest development is another Rs. 240 million ($3.7 million USD) has been seized.


Controversy dogs OneCoin’s blockchain whitepaper

The problem with OneCoin affiliates getting excited about their blockchain whitepaper reveal earlier today, is it suggests that OneCoin are only now using a blockchain. Despite evidence to the contrary, OneCoin has maintained its Ponzi points have operated as a legitimate cryptocurrency since day one. At a training event earlier today it OneCoin’s whitepaper was [Continue reading…]


Macau police fail to prevent OneCoin event, Gerlach Report fake news?

With affiliates unable to withdraw their Ponzi points, the stakes for OneCoin have never been higher. The 2018 date for going public has bought the company some time but alone isn’t enough to placate affiliates who’s invested and lost money. Enter the glitzy global event in Macau, which serve as a distraction from the predicament OneCoin [Continue reading…]


Traffic Monsoon Receivership to continue during appeal

Following the filing of an appeal by Charles Scoville, there’s been some uncertainty as to the status of the court-appointed Receivership. In particular, whether or not recovery efforts would continue while the appeal was being decided on. While distribution payments might not be possible pending the outcome of the appeal, the good news is the Traffic [Continue reading…]