Articles under ‘MLM’:

Traffic Monsoon Receiver recovers $4.3 million from Allied Wallet

On November 29th the Traffic Monsoon Receiver filed her Third Stats Report. In it the Receiver revealed over $4.3 million has been recovered from Allied Wallet.

USFIA victim claims process being developed

Good news for victims of the USFIA Ponzi scheme, a claim portal is likely to be opened sometime in the first quarter of 2018. That prediction is based off the USFIA Receiver’s Ninth Interim Report, which states:

Mannatech warned over multiple FDA violations

The FDA has warned Mannatech of witnessed manufacturing and labeling violations. In a November 14th letter addressed to CEO and President Alfredo Bala, the FDA reveals it inspected Mannatech’s manufacturing facility for roughly a fortnight beginning December 28th, 2016. The regulator also reviewed the labeling of Mannatech products in May, 2017.

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…]

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…]

GTI-Net Ponzi pyramid warning issued in Belgium

 GTI-Net launched in late 2015/early 2016 and had all but collapsed. In June 2017 however the company was brought back from life support by a flurry of activity in Belgium. Alexa today estimate that Belgium is the largest source of traffic to the GTI-Net website (73%). This has caught the attention of Belgium’s Financial Services [Continue reading…]

Crypto 888 Club collapses for fourth time, reboots as Nano Crowd

Since BehindMLM published an article covering Nano Club’s launch just over a year ago, investors have been desperate to convince us that the third reboot of Crypto 888 Club would succeed. To date the article has garnered over 750 comments, mostly back and forth between the “this time…” and “history will repeat itself…” crowds. Turns [Continue reading…]

TelexFree net-winner class objects to claim resolution procedures

Having followed the Zeek Rewards case, it’s my understanding that net-winner and victim claim procedures are pretty straight forward. Both parties file claims and what’s provable on paper is accepted. The rest of the claims are tossed out and funds are then clawed back from net-winners and returned to victims. Fearful of being held accountable [Continue reading…]