Articles under ‘regulation’:

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…]


USI-Tech scam warning issued in New Zealand

New Zealand’s Financial Markets Authority has issued an investment warning against USI-Tech. Better late than never?


Richard Maike argues I2G recorded webinars = illegal wiretap

In an attempt to gut the DOJ’s criminal case against him, Richard Maike claims recordings of incriminating webinars are illegally obtained wiretaps. If that sounds ridiculous… it’s because it is.


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…]


Five Winds & AGAM criminal investigations continue

Authorities in Russia and Kazakhstan are continuing to investigate the fallout of the collapsed Five Winds and Atlantic Global Asset Management Ponzi schemes.


Digital Altitude discovery contains “glaring omissions and inadequacies”

As of a Status Report filed by the FTC on August 7th, discovery provided by Digital Altitude, Michael Force and Mary Dee is riddled with “glaring omissions and inadequacies.”


BitConnect investor “detained, threatened and interrogated by the FBI”

Things are getting serious for BitConnect’s top promoters, as “Crypto Clover” found out upon returning to the US. Crypto Clover (real name: Calen Powell), promoted BitConnect through his YouTube channel until it collapsed. How much money Powell stole from BitConnect victims is unclear. Powell refers to himself as a “crypto nomad”, having sold most of his assets [Continue reading…]


Lyoness reveals only 21% of Cashback World cards used in 2017

One of the common rebuttals we see to Lyoness’ Ponzi scheme is the cashback side of the business. Originally offered through Lyoness itself, the cashback scheme was rebranded as CashBack World last year. Following the Gaming Board’s decision to ban and then uphold Lyoness’ ban in Norway, the company has filed a second appeal. In [Continue reading…]


Charles Scoville enters Traffic Monsoon settlement negotiations with SEC

After just over two years of vowing to clear his name and prove Traffic Monsoon wasn’t a Ponzi scheme, Charles Scoville has entered into settlement negotiations with the SEC.


Redwood Scientific Technologies fail to communicate with FTC

Last we checked in, Redwood Scientific Technologies was facing fines of $5000 a day for non-compliance with an FTC investigation. Redwood Scientific Technologies is the parent company of the now defunct RengaLife MLM opportunity. On July 13th the FTC filed a Status Report regarding a database Redwood provided in June. The FTC allege information crucial [Continue reading…]