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Back in March BehindMLM covered the Antares Trade 2.0 Ponzi reboot. Aleksey Zhirovkin, playing Boris CEO Alex Richter, was resurrecting his 2020 Ponzi scheme for a second time. Part of the Antares Trade reboot was Alpin Launchpad, which was marketed with its own “multi-level referral program”. As such I flagged Alpin Launchpad for its own [Continue reading…]

A Telephonic Status Conference held on April 15th has edged Mindset 24 defendants towards an SEC settlement. As per the order, individual ex parte phone conferences with the court are to be scheduled. The April 15th order states this is ‘in order for the Court to determine if further ADR is appropriate‘. “ADR” being Alternative [Continue reading…]

OmegaPro has received a securities fraud warning from Nicaragua’s Superintendencia de Bancos y de Otras Instituciones Financieras (SIBOIF).

Having unofficially collapsed in December 2020 with the launch of Electric Cash and subsequent failed shitcoins, Mining City has now officially collapsed. As per an email sent out by CEO Greg Rogowski, Mining City has implemented withdrawal restrictions.

Congo Republic’s Director General of National Financial Institutions, Jean-Pierre Nonault, has stated OmegaPro is a “Ponzi type scam”. The declaration follows arrest warrants issued against two national OmegaPro managers.

With its Digital Partners Network Ponzi in tatters, Crowd1 has revealed its next Ponzi play: Metaversy. Metaversy is a new blockchain based trading game where you as a player can trade virtual shares in companies which only exist in the Metaverse! This will be the most revolutionary game you’ll ever play! At the cutting edge [Continue reading…]

Universal Pickle was part of Anthony Norman’s EQT Bank Ponzi scheme. EQT Bank itself was a reboot of Norman’s collapsed Dragon Global Finance Ponzi. As per an undated update sent out to investors, Norman advised “both parties have agreed to discontinue the partnership in an amicable manner.” Yes, that’s Anthony Norman superficially separating one component [Continue reading…]

The SEC has filed suit against Steven Chiang (aka Cyrus Kong), Eric Tippetts, James Hardy and Maurice “Butch” Chelliah. As alleged by the regulator, the defendants scammed consumers out of millions through their Nasgo and ShareNode Ponzi schemes.

Lifevantage has prevailed against consumers forming a class-action against it. The decision was handed down on April 19th, effectively ending plans to sue Lifevantage as a class for securities fraud.

The CFTC’s fraud case against four JetCoin scammers has been stayed, pending the outcome of parallel criminal proceedings.