Gilbert Armenta’s OneCoin forfeiture tops $50 million
A consented to preliminary order has pegged Gilbert Armenta’s OneCoin forfeiture at over $50 million dollars.
companies @ BehindMLM
Isagenix majority sold off to undisclosed investors
Following months of financial uncertainty, Isagenix has been sold to a group of undisclosed investors.
Financial Education Services fails to dismiss FTC fraud case
Financial Education Services’ Motion to Dismiss FTC proceedings against it has been denied. The FTC filed suit against FES last June, alleging FES was a $467 million pyramid scheme. As part of those proceedings, FES filed a Motion to Dismiss on July 25th.
5th NovaTech securities fraud warning from Canada (Quebec)
NovaTech FX has received a securities fraud warning from Quebec’s Autorite des Marches Financiers. NovaTech LTD was added to the AMF’s investor warnings list on February 3rd, 2023.
AMZDoge Ponzi collapses, “tax audit” exit-scam & webs offline
AMZDoge surfaced on or around September 2022. The scheme operated both as AMZDoge and GeoDoge, operating from two primary domains: geodoge.com – private registration last updated on December 12th, 2022 amzdoge.com – privately registered on September 14th, 2022 Following AMZDoge’s collapse earlier this month, both previously accessible websites have since been disabled.
HyperCosmos Review: Another Hyperverse Ponzi spinoff
HyperCosmos fails to provide ownership or executive information on its website. In fact, as I write this, HyperCosmos’ website is nothing more than an affiliate login or signup form. HyperCosmos’ website domain (“hypercosmos.net”), was registered on November 8th, 2022. Caden Li is listed as the owner, through a resort address in Dubai. The same details [Continue reading…]
MTI’s liquidators have spent over $6 million, no restitution
One of the common misconceptions with MLM receiverships in the US is that they work to keep funds for themselves. In reality, where recovery is possible, the vast majority of recovered assets are paid out to victims of the scheme. This process typically ties into a regulatory lawsuit and is broadly overseen by the courts. [Continue reading…]
Montana’s CSI goes after collapsed Vbit Technologies Ponzi
Vbit Technologies, a collapsed MLM crypto Ponzi, has attracted the attention of Montana’s state securities regulator.
Generation Zoe’s Hector Yrimia tied to Futswap Ponzi
As its legal advisor, Hector Luis Yrimia was an integral part of Leonardo Cositorto’s Generation Zoe Ponzi scheme. Hector Luis Yrimia fled to Dubai as Generation Zoe began collapsing in late 2022. After Argentinian authorities issued an international arrest warrant, raided his properties and seized assets, Yrimia turned himself in to Interpol’s Dubai branch. Argentinian [Continue reading…]
Michael Glaspie pleads guilty to “Mike G Deal” criminal charge
Michael Glaspie, a serial promoter of fraudulent MLM schemes, has pled guilty to wire fraud. Glaspie’s criminal case stems from his promotion of the “Mike G Deal”, which the DOJ confirmed was a $55 million “investment fraud scheme”. At time of publication Glaspie’s criminal case has yet to appear on PACER. Nonetheless details of Glaspie’s [Continue reading…]
