MLM @ BehindMLM

Ed Zimbardi released by Dutch authorities (/facepalm)

Details of the Dutch investigation into Ed Zimbardi have emerged, including the revelation that Zimbardi was released “after interrogation”.


Mining City securities fraud warning from Cyprus

Mining City has received a securities fraud warning from Cyprus. Mining City was one of eleven fraudulent investment schemes cited in a February 22nd warning from the Cyprus Securities and Exchange Commission (CySEC).


Konstantin Ignatov receives time served for OneCoin fraud

Konstantin Ignatov has received time served for his role in OneCoin. As reported by Matt Lee of Inner City Press, Ignatov will also be subject to two years supervised release and $118,000 in forfeiture.


LegacyX under fraud investigation in Germany

LegacyX, the second reboot of the collapsed Trust Your Universe Ponzi scheme, is under investigation in Germany.


HyperTech Group securities fraud warnings from Australia

The HyperTech Group series of Ponzi schemes have received a securities fraud warning from the Australian Securities and Investments Commission (ASIC). HyperTech Group related Ponzi schemes cited by ASIC in their March 1st warnings include:


CryptoProgram’s Ed Zimbardi arrested in the Netherlands

Serial Ponzi scammer Edward Zimbardi (aka Ed Zimbardi), has been arrested in the Netherlands. As first spotted by Brandon @ Ponzi Patrol, WSB-TV Atlanta reports Zimbardi “has been arrested and charged with money laundering overseas.”


Joby Weeks back to home incarceration, upcoming bail hearing

BitClub Network scammer Joby Weeks has had his bail conditions downgraded back to home incarceration. A February 22nd petition filed by a Pretrial Services Officer requested the change, pending an also requested bail review hearing.


GSB Global securities fraud cease & desist from Texas

GSB Global has received a securities fraud cease and desist from Texas. Respondents named in the Texas State Securities Board’s February 29th order are GSB Global, Carson Williams, Sheila Thompson, Patrick Snider and Keneth Henderson.


Anthony Norman tied to Dubai money laundering in Norway

An investigative report from Norway has provided insight into Anthony Norman’s criminal case in Sweden. As per a February 8th report from Kapital, “the money trail leads to money laundering and international organized crime.”


TINA finds 98% of sampled MLMs make misleading income claims

A new study from Truth in Advertising (TINA), claims 98% of studied MLM companies are using misleading income claims. In other words, of the hundred MLM companies TINA studies, 98 percent are openly violating the FTC Act.