Articles under ‘MLM’:

Mary Dee files expenses opposition, FTC responds to both objections

Mary Dee has filed an opposition to the FTC’s request to modify the Digital Altitude preliminary injunction. The FTC has requested the court cut off Force and Dee from victim-funds, which under the current injunction sees them collecting a monthly living expense.

Is WorldVentures operating illegally in Brazil?

WorldVentures response to Rwanda declaring the company was an illegal pyramid scheme was certainly strange. Rather than prove it wasn’t a pyramid scheme, WorldVentures brushed off the ban by claiming it didn’t do business in Rwanda. This caught the attention of several Brazilian WorldVentures affiliates. Because despite Brazil not appearing on WorldVentures list of authorized [Continue reading…]

CFTC confirms iMarketsLive & Wealth Generators operated illegally

The CFTC has issued a press-release confirming iMarketsLive and Wealth Generators were ‘illegally offering forex and binary options to retail investors in the United States‘. According to the CFTC, both MLM companies failed to register their respective offering, making the businesses illegal.

SEC takes Zeek Receivership to task over excessive billing

In an attempt to dismiss their victims, a cliché trotted out whenever the government steps in and shuts down a scam is that said government will keep most of the money. What scammers don’t realize is that there are checks and balances in place to ensure this doesn’t happen, as evidenced by a recent SEC [Continue reading…]

Force demands continued access to frozen funds, blames lawyers

As of September 7th, Michael Force and Mary Dee have been paid combined living and medical expenses of $42,367 and $48,504 respectively. Citing “significant changed circumstances”, the FTC now want to stop these monthly payments – and Michael Force isn’t too happy about it.

OneCoin scammer indicted on $400 million money laundering charge

After seemingly little no progress on the regulatory front for some time, a key OneCoin insider has been indicted on a money laundering charge in the US.

$10.8 mill judgement in Sean Brown Digital Altitude settlement

Following on from news a settlement between Sean Brown and the FTC had been reached back in July, details of the settlement have now been made public.

WorldVentures pyramid scheme warning issued in Rwanda

Following an internal investigation into WorldVentures by Rwandan authorities, yesterday the Rwanda Development Board issued a pyramid scheme warning to the public.

US authorities seek to recover $5.6B from BitConnect scammers

The leading theory behind BitConnect is that it was run by Indian scammers looking to launder funds, following devaluation of specific banknotes in late 2016. This theory is increasingly looking probable, following a request to Indian authorities by their US counterparts.

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.