Articles under ‘regulation’:

Daniel Filho declared mentally incompetant

Daniel Filho’s mental health issues, which appear to have only sprung up after he was arrested, have been stalling criminal proceedings for some time now. Filho was arrested back in July of 2015 and criminal proceedings have been pending since. Unfortunately the delays look set to continue, with a US Judge ruling Daniel Filho is officially [Continue reading…]

$314,228 Canadian Zeek net-winner’s $2800 settlement offer rejected

Beverly Trca-Kitchen stands accused by the Zeek Receiver of stealing $314,228 from Zeek Rewards victims. In the wake of Paul Burks receiving jail time for masterminding the scheme, Trca-Kitchen approached the Zeek Receiver with a $2801 settlement offer. Seeming not impressed, the Receivership rejected the offer. In a letter dated March 23rd, Trca-Kitchen has asked the [Continue reading…]

$79,191 final judgement entered against Keith Laggos

With a securities violation already under his belt, Keith Laggos wasn’t in a position to contest his involvement in the Zeek Rewards Ponzi scheme. The SEC saw Keith Laggos as a Zeek insider and sued him for securities fraud on March 22nd. Based on a Statement of Financial Condition Laggos provided last December, a settlement was submitted [Continue reading…]

Lyoness a pyramid scheme according to Swiss Court of Appeal

It’s the same old story, a Lyoness affiliate invests in Accounting Units, nobody signs up under them and so they lose thousands of dollars. Between 2014 and 2015 a Lyoness affiliate in Switzerland invested 4500 CHF ($4510 USD). When it became clear he wasn’t going to earn any money, the affiliate asked for a refund. [Continue reading…]

VenusFX scammers arrested in Malaysia

Following a police investigation that began late last year, news today that several VenusFX scammers have been arrested in Malaysia.

Traffic Monsoon is a Ponzi scheme, preliminary injunction granted

Last July the SEC shut down Traffic Monsoon on the basis it was a Ponzi scheme. Rather than admit he’d stolen millions of dollars through Ponzi fraud and settle, Scoville vowed to defend the case. This saw all manner of nonsensical defenses raised. With the TRO set to expire, in November a preliminary injunction hearing was held. It’s [Continue reading…]

Mental health issues continue to delay Daniel Filho’s criminal trial

With pretty much every court update filed under seal, I don’t have much concrete information to report on Daniel Filho’s criminal trial. It emerged Filho was wanted by the FBI in July, 2015. He was arrested later that month and faces criminal charges for running the DFRF Enterprises Ponzi scheme. Last we checked in a second [Continue reading…]

5Linx co-founders arrested, criminal charges filed

The beef between 5Linx’s former CEO Craig Jerabeck and former partners Jason Guck and Jeb Tyler has escalated, following criminal charges filed by the DOJ. Arrest warrants were issued for Jerabeck, Guck, Tyler earlier this week, in conjunction with a criminal complaint filed on March 21st.

SEC sues Keith Laggos for promoting Zeek Rewards Ponzi scheme

Keith Laggos was involved with Zeek Rewards almost from inception. Laggos joined Zeek Rewards as a paid consultant around June 2011 and shortly after, the company switched from guaranteeing a 125% ROI on every bid purchased, to paying a variable ROI over 90 days. Laggos publicly credited himself as the prime instigator of the change [Continue reading…]

uFun Club scammer prison sentences top 12,000 years

After a long investigation and over a hundred arrests, twenty-two uFun Club scammers have been sent to prison in Thailand. Forty four uFun Club scammers stood trial on Wednesday. Twenty-two were found guilty and the remaining twenty-one were acquitted ‘due to insufficient evidence‘.