Articles under ‘regulation’:

FTC sues Digital Altitude & Michael Force for over $14 million in fraud

If you’ve searched for an MLM company as part of your due-diligence, chances are you’ve come across a Digital Altitude spam blog. The owners of these blogs shamelessly plagiarise MLM content from around the internet and present it as their own – combined with bait and switch advertising for Digital Altitude and related companies. The [Continue reading…]

BitConnect TRO extended till February 27th (Kentucky)

The Temporary Restraining Order previously granted in the BitConnect class-action Kentucky lawsuit, has been extended until February 27th.

3 million EUR tied to OneCoin to remain frozen, objection dismissed

An internal investigation by Germany’s top financial regulator revealed OneCoin had received around 360 million euros into German bank accounts. The funds were deposited and transferred through OneCoin’s international money laundering network between December 2015 to 2016. Unfortunately by the time BaFin was in a position to seize the funds, only 29 million EUR remained [Continue reading…]

DavorCoin securities fraud cease and desist issued in Texas

While nothing has emerged from the SEC yet regarding fraudulent ICO lending Ponzi schemes, Texas is on a roll. An emergency cease and desist order against DavorCoin marks the third enforcement order Texas has taken against ICO lending Ponzi schemes.

Texas takes credit for USI-Tech US and Canada shutdown

The gulf between USI-Tech management’s narrative and what actually happened continues to widen, following a January 31st news-release issued by the Texas Securities Board.

USFIA victim claims process to be submitted “in the coming days”

Although monetary relief is still a ways off, USFIA victims can probably except a claims process to go live before mid 2018. In his January 29th Tenth Interim Report, the USIFA Receiver claims he’s developed a “recommended claims process”. The claims process will be filed in court “in the coming days” and if approved, ‘will [Continue reading…]

Traffic Monsoon appeal arguments scheduled for March 21st

Just a quick update on the Traffic Monsoon appeal, following arguments from both parties to be heard scheduled for March 21st. Both the SEC and Scoville have acknowledged the date, so barring any unforeseen events between now and then the hearing should take place.

Helping Hands pyramid scheme training Nigerian police officers?

At one time there was a charity bearing the same name as the Helping Hands International pyramid scheme. So when I read a firm named Helping Hands International recently held a training event for Nigerian policeman, I assumed it was an initiative of the charity. Nope, turns out Nigerian policemen are being “trained” by the [Continue reading…]

“Do not invest in USI-Tech” warns Saskatchewan securities regulator

Despite assurances to the contrary, USI-Tech continues to run foul of securities regulation in Canada. The latest is a cease and desist issued by the Financial and Consumer Affairs Authority of Saskatchewan (FCAA).

R2B Coin securities fraud emergency cease and desist issued in Texas

Texas continues to lead US regulation against MLM cryptocurrency fraud, with the latest an emergency cease and desist filed against R2B Coin. Filed on January 24th, Texas’ cease and desist cites R2B Coin as having a last known address in Hong Kong.