Articles under ‘regulation’:

Infinity2Global criminal trial delayed, DOJ attorney will stay on case

With the jury trial on August 28th approaching, last month Richard Maike moved to have the case declared complex and the trial delayed. Maike’s motion was filed with his wife Angela, Doyce Barnes and Richard Anzalone. Faraday Hosseinipour later filed a response in support of the motion. The DOJ didn’t object and so on August [Continue reading…]


DFRF Receivership motion “unnecessary and premature”

Victims of Daniel Filho’s DFRF Enterprises Ponzi scheme are in for a long wait, following the denial of a motion requesting the appointment of a Receivership. The motion was filed on July 11th by Gailon Arthur Joy, who identifies himself as a DFRF Enterprises victim.


Final Judgment granted against US Zeek Rewards net-winners

Back in June the Zeek Rewards Receiver filed for Final Judgment against outstanding US net-winners. That is Zeek Rewards affiliates who, even five years after the Ponzi scheme was shut down, refuse to pay back the victims they stole from. On August 14th Final Judgment was granted, rendering the remaining net-winner class liable for the [Continue reading…]


China announces four-month crackdown on pyramid schemes

For all intents and purposes, Chinese regulation of MLM pyramid schemes is of the *winkwink, nudgenudge* variety. The last major MLM pyramid scheme bust we covered was Nu Skin back in 2014. After announcing it suspected Nu Skin was a pyramid scheme, a few months later a paltry $781,000 fine was doled out and that [Continue reading…]


BC Academy Bookcoins Ponzi busted by Malaysian authorities

BC Academy surfaced last year as a reboot of the uFun Club Ponzi scheme. Based out of Malaysia, the ruse behind BC Academy is that affiliates were investing in bookcoins, a silver-backed cryptocurrency. Following victim complaints from investors, last week Malaysian police arrested two men running the scam.


OneCoin’s nonsensical response to Italian pyramid scheme fine

When Italy’s Antitrust and Consumer Protection Authority (AGCM) banned promotion of OneCoin last year, OneCoin responded with pseudo-compliance nonsense. Not surprisingly, the AGCM took no notice and pressed ahead with their investigation. Eventually declaring OneCoin to be a “deceitful Ponzi scheme”, banning the company outright and last week, slapping it with a €2.5 million euro fine. [Continue reading…]


Crackdown on illegal sale of Valentus products in UK

Charlotte Thomson resides in the UK county of Cornwall. Looking to build a local business to compliment real estate development, Thomson signed up as a Valentus affiliate earlier this year in January. After six months of promoting Valentus and putting her “heart and soul into it”, last week Thomson received a visit from Trading Standards.


OneCoin warning issued by the Bank of Mauritius

In what appears to be a response to solicitation of investment into OneCoin across the country, the Bank of Mauritius has issued a public warning.


OneCoin cops 2.5 million euro pyramid scheme fine in Italy

The Italian Antitrust and Consumer Protection Authority has fined OneCoin 2.5 million euro for being a pyramid scheme.


Pay Diamond criminal case to be opened in Paraguay

Appearing on CFA Radio, Fernando Escobar, President of Paraguay’s National Securities Commission (CNV), has revealed Public Prosecutor’s are likely to file a criminal case against Pay Diamond.