Articles under ‘regulation’:

eBiz pyramid scheme busted in India, two arrests

Authorities in Hyderabad, India, have shutdown the long-running eBiz pyramid scheme. Two eBiz representatives have been arrested; Hitak Malhan, son of eBiz Managing Director Pavan Malhan; and eBiz Director Anitha Malhan, wife of Hitak Malhan.

Ruja Ignatova was originally indicted on October 12th, 2017

The specifics of Ruja Ignatova’s OneCoin exit-scam are coming together. The latest piece of the puzzle is the revelation that Ignatova was initially indicted back October 2017 – around the same time she “went on maternity leave”.

DOJ pushing for September 2019 Mark Scott OneCoin trial date

The case against the first of OneCoin insider to fall, Mark Scott, is slowly progressing towards trial. At present there’s a bit of a standoff regarding an agreed trial date. The DOJ want a trial on or around September 2019. Mark Scott’s attorneys want July.

Michael Force cops $54 mill Digital Altitude judgment, stripped of assets

Michael Force’s settlement with the FTC has been approved. As per the settlement, the FTC has received a $54 million dollar monetary judgment against Force. An injunction has also been granted, prohibiting Force from committing further violations of the FTC Act.

Subpoenaed emails reveal OneCoin was fraudulent from inception

Over the course of the DOJ’s investigation into OneCoin, the department issued multiple subpoenas. Some of those subpoenas pertained to email evidence, the publication of which has provided revealing insight into OneCoin’s operation. Below are excerpts from emails and other sources of information obtained by the DOJ. Below, I’ve categorized the DOJ’s evidence into relevant [Continue reading…]

Konstantin Ignatov charged with conspiracy to commit wire fraud

Before OneCoin collapsed, Konstantin Ignatov is believed to have worked as personal bodyguard for his sister, Ruja Ignatov. Ruja Ignatov was the public face of OneCoin, while Ignatov lurked in the shadows. Following Ignatova going into hiding on or around mid 2017, Konstantin was thrust into the spotlight. Awkward on stage and poorly groomed for [Continue reading…]

OneCoin’s Ruja Ignatova indicted by New York grand jury

Two weeks ago BehindMLM ran a story regarding Mark Scott attempting to hide evidence from a grand jury. The grand jury proceedings themselves were believed to pertain to other individuals related to OneCoin. We can now cross Ruja Ignatova off that list, following the revelation she was indicted back in February.

Konstantin arrested, criminal charges filed against Ruja Ignatova

Three days ago OneCoin’s Konstantin Ignatov was arrested at Los Angeles International airport. Today the Manhattan US Attorney’s Office announced criminal charges have been filed against Konstantin Ignatov and his sister, Ruja Ignatova.

Traffic Monsoon Receiver clawbacks to target 4,800 net-winners

Following on from claims process approval, the Traffic Monsoon Receiver has now filed for permission to pursue net-winners.

SEC moves for $38.6 million in relief against Fort Ad Pays defendants

Last May Pedro Fort and his Fort Ad Pays Ponzi scheme entered default. Now the SEC has moved for $31.5 million in relief against three Fort Ad Pays defendants.