Articles under ‘MOBE’:

MOBE’s Russel Whitney dead, Susan Zanghi’s $318M settlement

Lawyers for top MOBE affiliate Russel Whitney have confirmed Whitney passed away on November 20th. The revelation was made seeking an extension of time for Whitney to reply to the FTC’s lawsuit. The motion was granted, staying Whitney’s response in favor of a joint notice or motion detailing a proposed course of action.


MOBE Receiver seeks to recover $925,000 from Peoples Trust

In an attempt to retain almost a million dollars fraudulently obtained through MOBE, Peoples Trust in Canada decided the preliminary injunction didn’t apply to them. This prompted a lawsuit against Peoples Trust by the MOBE Receiver, which is currently playing out in the Superior Court of Quebec.


Matt Lloyd starts up Scale Fast Advertising ($5000 set up fee)

Three and a half weeks ago a preliminary injunction was granted against MOBE founder Matt Lloyd. “About 3 weeks ago” Lloyd created the “Scale Fast Secrets” private Facebook group.


Qualpay & Synovus Bank file appeal over $6.3 mill MOBE funds

Rather than accept an August 8th ruling denying them $6.3 million in stolen MOBE victim funds, Qualpay and Synovus Bank have filed an appeal. The previously granted TRO directed MOBE’s bank and payment processors to turn over any funds related to the business to the Receivership.


MOBE preliminary injunction granted against Matthew Lloyd

Following MOBE insiders Russel Whitney and Susan Zanghi consenting to preliminary injunctions, a preliminary injunction has been granted against MOBE and owner Matt Lloyd McPhee.


MOBE bilked nun out of $60,000, CFO made death threats (and more)

Since the appointment of the MOBE Receivership, the Receiver has been approached by a wide-range of victims. Virtually all of the consumers with whom the Receiver has communicated did not earn back the amounts they paid to purchase MOBE memberships. One specific example cited in the Receiver’s Initial Report is a Catholic nun, who purportedly [Continue reading…]


MOBE processor QualPay ordered to return $6.3 million in stolen funds

A request from Qualpay to keep $6.3 million stolen from MOBE victims has been denied. The TRO in place against MOBE requires all funds related to the fraudulent business be turned over. Rather than hand over the $6.3 million it processed for MOBE, Qualpay instead sought an exemption from the TRO. The processor argued that [Continue reading…]


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…]


MOBE processor cries croc tears, claims TRO will render it insolvent

Whenever we see a major regulatory bust, there’s always at least one individual or entity that believes the rules don’t apply to them. For whatever reason, the concept of “funds obtained through illegitimate business activities don’t belong to you” doesn’t ring home. Following the recent FTC shutdown of MOBE, Qualpay have stepped up and demanded [Continue reading…]