MLM @ BehindMLM

The CFTC has secured a preliminary injunction agreement with EminiFX owner Eddy Alexandre. The proposed injunction, which awaits approval from the court, was filed on June 14th.

Nineteen Decentra promoters have been arrested in the Philippines. The arrests preceded a securities fraud warning issued against the Ponzi scheme on June 13th.

The Prosperity Grid has received a pyramid scheme fraud warning from South Africa’s Financial Sector Conduct Authority. The Prosperity Grid investigation was prompted by “several complaints received from the public”.

Decentra has received a securities fraud warning from the Philippines. As per the SEC’s June 14th warning; DECENTRA and its representatives, agents and individuals and groups of individuals acting on its behalf have been found to be offering unregistered securities to the public without the necessary authority or license issued by the Commission. The SEC [Continue reading…]

Coenie Botha’s latest legal grift in Namibia has seen him claim running his Ponzi scheme costs $62,150 a month. This is based on a March carve-out, which saw the Bank of Namibia required to unfreeze enough for CBI Global to meet its “day-to-day operations”. CBI Global is a collapsed MLM crypto Ponzi scheme run by [Continue reading…]

Emile Parfait Simb, owner of the Liyeplimal Ponzi scheme, was arrested in Cameroon last month. Cameroonian authorities apprehended Simb as he attempted to board a plane bound for Morocco. Despite being charged with “serious fraud”, Simb was released on condition he hand over his passport. Upon being released, Simb and his family promptly fled Cameroon. [Continue reading…]

The USFIA Receivership and IRS have reached a settlement regarding tax claims held by the IRS. Pending court approval, this paves the way for USFIA victim distribution payments to go out.

ZetBull has received a securities fraud warning from the UK’s Financial Conduct Authority.

Aufin has received a financial fraud warning from Russia. As per the Central Bank of Russia’s June 10th warning, Aufin exhibits signs of a “financial pyramid”.

I’ve been under the impression Malaysian authorities had done nothing about TriumphFX. Pretty much since BehindMLM first reviewed TriumphFX in 2017, Malaysia has been a top source of recruitment. Turns out while the Bank of Malaysia hasn’t done anything, the Malaysian SEC issued a TriumphFX securities fraud warning back in 2020.