Articles under ‘regulation’:

MBI International added to Central Bank of Malaysia’s alert list

Nine years after it launched in 2009, Malaysia’s top financial regulator has finally taken action against MBI International. Bank Negara Malaysia is pretty much Malaysia’s SEC equivalent and regulates the country’s financial sector. On May 22nd, the bank added MBI International and M Face International to its consumer alert list.


MMM Nigeria affiliate facing eighteen years in prison

Following the collapse of MMM Nigeria a few months ago, it was estimated that some 3 million Nigerians together lost $57 million dollars. Following a criminal complaint filed by two affiliates, now one MMM Nigeria affiliate is facing up to fifteen years in prison.


Two more OneCoin arrests, money trail leads to Bulgaria & Mauritius

The interrogation of Indian OneCoin affiliates in custody continues to pay off, with a continuing investigation by the Mumbai EOW leading to two more arrests. While OneCoin is notorious for laundering money through shell companies at a corporate level, the Indian investigation is revealing how things work on the ground.


Paraguay’s Public Prosecutors investigating D9 Clube Ponzi

D9 Clube launched last year and, in addition to Ponzi ROIs and pyramid recruitment commissions, provided affiliates with 52 weeks access to the BetFair betting platform. BetFair is an independent company that has nothing to do with the operation of D9 Clube. Despite this however, BetFair is a key factor in D9 Clube marketing presentations. D9 [Continue reading…]


Austrian Public Prosecutor launches OneCoin criminal investigation

Early last year Austria’s Federal Ministry of Labour, Social Affairs and Consumer Protection issued a warning against OneCoin. Some point after it appears the Austrian Financial Market Authority (FMA) opened their own investigation, the conclusion of which has now prompted a criminal investigation.


Indian OneCoin scammers siphon $11.6 million out of bank accounts

Efforts to recover funds stolen by Indian OneCoin affiliates have hit a roadblock, following the revelation that 75 crore ($11.6 million USD) has been withdrawn from bank accounts used to accept invested funds.


Police and Market Inspectorate investigating OneCoin in Slovenia

Following regulatory bans in Germany and India, the latest country to confirm an investigation into OneCoin is now Slovenia.


Worldwide Solutionz under criminal investigation in South Africa

Worldwide Solutionz was a Ponzi scheme that popped up BehindMLM’s radar back in 2014. Under the guise of helping the poor, Worldwide Solutionz affiliates invested $25 on the promise of a $40 ROI. This ROI was funded by subsequent affiliate investment. With a $15 liability generated per $25 investment made, in early 2015 the scheme began [Continue reading…]


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…]