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Michael Shannon Sims, a defendant in the CFTC’s The Traders Domain Ponzi case, has been accused of mortgage shenanigans, hiding luxury watches and failing to disclose requested financial information. On July 28th, the Traders Domain Receiver filed a motion requesting Sims be ordered to show cause over multiple injunction violations.

Iyovia defendants Jason Brown, Matthew Rosa and their company Global Dynasty Network, have settled fraud allegations brought by the FTC and State of Nevada for $36 million.

Following on from myWorld filing for bankruptcy in 2023 and being declared insolvent earlier this week, Lyconet has now also been declared insolvent.

A Carter-Ruck partner solicitor has been recommended for prosecution over OneCoin legal threats. The UK’s Solicitors Regulation Authority (SRA) recommended Claire Frances Gill for prosecution on March 21st, 2025. As noted by Dan Neidle, founder of Tax Policy Associated, Carter-Ruck attempted to prevent Gill’s prosecution recommendation from being made public. This failed, resulting Gill’s prosecution [Continue reading…]

Following myWorld filing for bankruptcy and reports it was drowning in $110 million in debt in 2023, myWorld has been declared insolvent in Europe.

The head of myWorld Spain has been arrested on pyramid fraud charges. Spain’s National Police confirmed the arrest in a July 31st press-release.

Pruvit and CEO Brian Underwood have been sued for sex discrimination and assault. Plaintiff Clarissa Jones filed suit against Pruvit and Underwood on July 14th in Jefferson Circuit Court, Kentucky.

As per a July 31st order, the Texas State Securities Board has opted to set aside its Apertum Foundation emergency order. The order, issued on March 20th, pertains to ongoing alleged securities fraud. In addition to Apertum Foundation, TSSB’s order named Josip Heit, Dirc Zahlmann, Bruce Innes Wylde Hughes and Dennis Christopher Loos as respondents.

Back March BehindMLM received a reader request for an updated MWR Life review: Then, another reader reached out in late May claiming MWR Life had a new compensation plan: MWR Life has made its way up the review list with an update due soon. In the meantime, I couldn’t have predicted what happened next.

Following the arrest of top OmegaPro Ponzi promoter Juan Carlos Reynoso on June 30th, the DOJ was initially denied a motion seeking pre-trial detention. The DOJ filed an emergency motion challenging the order on July 3rd. The court stayed Reynoso’s release and held a second hearing on the matter on July 23rd. Following the hearing, [Continue reading…]