A local leader of the GIG-OS Ponzi scheme has been arrested in Argentina. Only identified as “FMV”, the scammer was arrested during a series of raids last Thursday.
EmGoldex @ BehindMLM
GIG-OS and marketing arm Global Success Management have been banned in Italy. As per a September 6th announcement, CONSOB advises GIG-OS and GSM have violated Italy’s financial laws.
GIG-OS has received a pyramid scheme warning from the Central Bank of Russia. Cited by its old name, Global InterGold, the Central Bank’s January 2nd notice warns GIG-OS has “signs of a pyramid scheme”.
GIG-OS is the latest chapter in the EmGoldex scam saga. EmGoldex was a gold themed cycler Ponzi scheme that launched in 2014. Following multiple regulatory investigations and fraud warnings (the US, Philippines, Malaysia, UAE), EmGoldex collapsed in mid 2015. The company rebooted as Global InterGold shortly after the collapse, carrying on as if nothing happened. [Continue reading…]
According to local news reports, serial-scammer Joseph Tran has been arrested by Swedish authorities. Tran’s arrest is believed to be in connection with his promotion and participation in a number of fraudulent MLM companies.
The Superintendencia de Banca is responsible for the ‘regulation and supervision of the Financial System of Insurance and Private Pension System‘ in Peru. In an action that slipped under the radar, last month the Superintendencia de Banca issued a warning against Global InterGold (EmGoldex) and Jeunesse.
Attempts to quash EmGoldex and its various incarnations in the Philippines continue, with news of the SEC filing a second round of complaints.
Hot on the heels of the arrest of Philippine EmGoldex ringleaders, news today that the central bank of Curaçao has issued it’s own warning against the scheme.
Last month saw the Philippine SEC issue a cease and desist against Global InterGold. Alongside the SEC’s warning, criminal charges were also filed against top Philippine Global InterGold investors by the Philippine National Police (PNP). Details of the criminal case have been thus far sketchy, with specifics of the PNP’s criminal case only coming to light [Continue reading…]
In a predictable dejavu turn of events, Global InterGold have sought to distance themselves from local business operations in the Philippines. The move comes after it was revealed last Friday that the Philippine SEC have filed criminal charges against several top Global InterGold investors.