PlatinWorld & PLC Ultima fraud warning from Mongolia
PLC Ultima has received a fraud warning from Mongolia’s Financial Regulatory Commission. PLC Ultima is part of Alex Reinhardt’s PlatinWorld Ponzi scheme.
companies @ BehindMLM
FSCA punishes MTI Ponzi scammers by waiving R50 mill fine
It’s been a terrible week for global MLM regulation. First we had Dubai release someone who had an Interpol issued arrest warrant out on them. The worst of it is Dubai hadn’t yet bothered to arrest the perp, they’d voluntarily turned themselves in. Then we had Bulgaria, home of the still very much active OneCoin Ponzi [Continue reading…]
Gordon Beckstead’s BitClub Network money laundering plea
As per a chargesheet filed on March 24th, Gordon Brad Beckstead helped BitClub Network scammers launder “millions of dollars”.
Model Farming pyramid fraud warning from Russia
Model Farming has received a pyramid fraud warning from the Central Bank of Russia. As per the CBR’s April 20th warning, Model Farming exhibits “signs of a financial pyramid”.
Interpol Dubai refuse to arrest Generation Zoe Ponzi lawyer
Generation Zoe’s legal advisor Hector Luis Yrimia is wanted by Argentinian authorities. Yrimia has an international arrest warrant out on him, issued through Interpol. On Tuesday April 12th, following additional seizures and raids on his properties in Argentina, Yrimia turned himself in to Interpol’s Dubai branch. Instead of arresting Yrimia and initiating extradition proceedings, Interpol [Continue reading…]
Bulgaria fobs Ruja Ignatova off to Germany (PR disaster)
Bulgarian authorities have taken the extraordinary step of disowning OneCoin Ponzi founder Ruja Ignatova. Ignatova, who was born in Bulgaria, held dual Bulgarian-German citizenship. In an April 18th press-release, Bulgaria’s Ministry of the Interior declared Ignatova has been “released from Bulgarian citizenship.”
Quwiex Ponzi collapses, site gone after withdrawals suspended
The Quwiex Ponzi scheme has collapsed. Following disabling of withdrawals over a week ago, Quwiex told investors they would be resumed on April 18th. Instead of that happening, Quwiex disabled its website and it’s now been down for two days.
Traffic Monsoon Receiver working on plan of distribution
The Traffic Monsoon Receivership has flagged work starting on a “plan of distribution”. The announcement follows resolution of a significant percentage of investor claims.
Amway a suspected pyramid scheme in India, $99 mill frozen
Authorities in India have launched a pyramid fraud investigation into Amway. The preliminary stage of the investigation has seen ₹ 757 crore in assets frozen ($99.1 million USD).
DOJ seeks to notify OneCoin victims of crim proceedings
The DOJ has filed for permission to notify OneCoin victims of upcoming criminal proceedings.
