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Following the arrest of twenty ProCap Insurance scammers last October, the Philippine SEC noted the Ponzi scheme was still being promoted in the Philippines. Apparently the foregoing [arrests] did not deter ProCap from carrying out its unauthorized investment-taking activities as the EIPD showed another evidence that ProCap is continuously offering/selling its unregistered securities. ProCap had [Continue reading…]

Following a petition filed by a Pretrial Services Officer, a court has altered Joby Weeks’ release conditions to be “more restrictive”.

Debt Box promoter Ryan Bowen has been voluntarily dismissed from the SEC’s case. A stipulation filing also provides clarity on how the SEC intends to handle the case going forward.

The British Columbia Securities Commission has published reasoning behind its decision to extend a temporary order. The order, issued on November 16th, 2023, prohibits promotion of GSPartners’ “MetaCertificates” unregistered securities offering. Specific breaches of British Columbia law cited by the BCSC included: illegal distribution of securities; illegal trading of securities; prohibited representations; and fraud In [Continue reading…]

Google has filed a RICO lawsuit against two Chinese scammers it alleges are behind the OTCAI “click a button” app Ponzi. Named defendants in Google’s filed April 4th Complaint are: Yunfeng Sun (aka Alphonse Sun), an app developer believed to reside in Shenzhen, China Hongnam Cheung (aka Zhang Hongnim, Stanford Fischer), an app developer believed [Continue reading…]

Terrence Pounds has been sentenced to 94 months in prison for COVID-19 loan fraud. Pounds, who orchestrated the multi-million dollar fraud scheme, will also have to pay back $4.2 million in restitution.

Brazil’s Supreme Court has approved the extradition of BitRobot admin  Laurent Myriam Claude Barthelemy. Barthelemy was arrested in Brazil on an international arrest warrant request by Belgium in April 2023.

Andrew Eaton has claimed GSPartners is on the verge of negotiating settlements with US regulators. Eaton, a top earner in the fraudulent investment scheme, leads a group of South African promoters under “GIHugeness” branding.

Irina Dilkinska, OneCoin’s former Head of Legal and Compliance, has been sentenced to four years in prison.

Jury selection for the SEC’s MyNyloxin trial was supposed to kick off on March 25th. Instead on March 7th, a Joint Motion was filed requesting the pending trial. The basis for the request was a reached settlement. On March 8th the Joint Motion was granted, requesting the parties file a Status Report or Stipulation of [Continue reading…]