Articles under ‘MLM’:

Traffic Monsoon Receivership order slightly amended

Following a request for briefings on the duties and powers of the appointed Traffic Monsoon Receiver, an amended order has been filed.


FirstCoin Club under police investigation, reports exchange

FirstCoin are set to have their FRST altcoin dumped from the LiveCoin exchange, following the revelation the company is under police investigation in “at least 2 countries”.


Carlos Wanzeler stripped of Brazilian citizenship (extradition finally?)

Breaking news on US efforts to extradite TelexFree owner Carlos Wanzeler on criminal charges, following a decision to strip Wanzeler of his Brazlian citizenship. Can’t say I saw this one coming…


Avon closing Australia and New Zealand, 21,000+ reps abandoned

On February 15th Avon announced it would be closing operations in Australia and New Zealand by the end of 2018. From the sounds of it, Avon’s announcement came as a complete surprise to the company’s 21,400 Australian representatives. How many representatives Avon has in New Zealand is unclear.


Another $1.8 mill collected from Zeek Rewards net-winners

The Zeek Rewards Receiver files his quarter four report for 2017 on February 15th. The Zeek Receivership has mostly wound down, however a few outstanding clawback related tasks remain.


USI-Tech securities cease trade order issued in Ontario

Whereas USI-Tech regulatory warnings by other Canadian provinces have been mostly passive (alerts, warnings etc.), Ontario has upped the stakes by issuing a temporary cease trade order against the company and two affiliates.


Bitcoiin sign Steven Seagal as ICO Brand Ambassador?

When you’re just another pump and dump altcoin launch in a see of thousands, you can either work on actually adding to cryptocurrency or try to gimmick your way to legitimacy. Through the hiring of Steven Seagal as Brand Ambassador, take a guess which route BitCoiin have chosen.


Digital Altitude prelim injunction hearing delayed, TRO extended

Following a Temporary Restraining Order granted against Digital Altitude and owner Michael Force on January 29th, a preliminary injunction hearing was scheduled for February 15th. On February 12th the FTC filed a joint Stipulation to a Continuance of the hearing, which was granted the same day.


Questra World and AGAM founder Pavel Krymov arrested in Russia

Despite Questra World and Atlantic Global Asset Management attempting to portray themselves as Spanish companies with African ties, it was always obvious that someone from Russia or a neighboring country was pulling the strings. Turns out I was right on the money, following the arrest of Pavel Krymov in Moscow on February 6th.


WCM777 Receivership to wind down over next 60-90 days

WCM777 was an MLM Ponzi scheme shut down by the SEC in March, 2014. A Receivership was appointed immediately after and has been overseeing victim refunds from seized assets for just shy of four years. In the Receiver’s February 13th Sixteenth and Final Interim Report, it has been announced the WCM777 Receivership is finally winding [Continue reading…]