Articles under ‘MLM’:

BitConnect cease and desist permanent in North Carolina

Following no response from BitConnect, a cease and desist issued against the company by North Carolina has been ordered permanent.

Noble 8 Revolution collecting fees, continue to delay commissions

Question: As a Ponzi cycler admin, what’s better than collecting the majority of invested funds through pre-loaded positions? Answer: Not paying anyone and keeping all of the money for yourself. Noble 8 Revolution’s admins have redefined the gullibility of Ponzi investors. Mark Campese and Blaine Williams have been collecting $25 membership fees since January, and [Continue reading…]

Michael Force “uncooperative”, unpaid attorneys want out ($90,000+)

The client relationship between Michael Force and his attorneys has reached breaking point, with all three requesting permission to withdraw from the case.

Nui and Mintage Mining to “vigorously defend” securities cease & desist

Although we’d caught wind of it a day before, yesterday Nui published it’s official response to the Texas cease and desist. Following months of assurances that Nui, Mintage Mining, Symatri and the Kala altcoin had been signed off on by “top law firms in the US”, Texas issued the company with a securities fraud cease [Continue reading…]

Eyeline Trading seek to avoid regulation through unbranded advertising

With Eyeline Trading shaping up as the next USI-Tech, owner and CEO Dan Putnam is doing everything he can to prolong a US regulatory investigation. The latest has seen Eyeline Trading demand affiliate investors remove any reference to the company in their marketing efforts.

Amazing Living offer affiliates Xalles Holdings shares. Um, why?

A few months ago we covered Amazing Living’s apparent unregistered securities offering. So the offer went, a prepaid debit card was to be distributed to Amazing Living affiliates. Through use of the card, stock in an undisclosed company would be awarded. The name of the company stock was to be issued from was not disclosed. [Continue reading…]

Nui & Mintage Mining securities fraud cease and desist in Texas

Despite reassurances by Nui that their Kala altcoin and Mintage Mining have “stability and protection with the SEC“, a US securities regulator has issued the company with a cease and desist.

SingliWorld scammers arrested, facing prison time and fines

Six SingliWorld scammers have been arrested in Singapore, including Founder Leong Koon Wah (aka Hermes Leong). Wah, along with five of his associates, faced court on Wednesday on charges related to illegal operation of a pyramid scheme.

Russell Whitney settles MOBE fraud with FTC, stripped of assets

For his part in scamming consumers through MOBE, the FTC named Russell Whitney as a defendant in their fraudulent business lawsuit. Rather than defend the FTC’s allegations and clear his name, Whitney has instead opted to reach a settlement.

Matt Lloyd heading towards MOBE fraud settlement with FTC

As expected, rather than fight the FTC’s allegation that MOBE was a $125 million dollar fraudulent business, owner and CEO Matthew Lloyd McPhee appears to be heading towards a negotiated settlement. Settlement negotiations between Lloyd and the FTC at this stage are well underway but the outcome is still uncertain. Nevertheless, the FTC appear confident [Continue reading…]