MLM @ BehindMLM

The SEC is hunting down John Barksdale to serve him a copy of their $124 million civil lawsuit. In addition to the SEC’s civil action, Barksdale (right) has been indicted on Ormeus Global related charges.

Two Crowd1 promoters in India’s south-west have been arrested. Authorities in Kerala allege suspects “Joshy” and “Berson” stole over ten million rupees (~$130,000 USD).

CBI Global has received a securities fraud warning from South Africa’s Financial Sector Conduct Authority.

BeOnWise has received a pyramid fraud warning from the Central Bank of Russia. As per the CBR’s April 25th warning, BeOnWise exhibits “signs of a financial pyramid”.

BaFin has finalized its cease and desist order against Karatbars International.

PetronPay, or what’s left of it, has been added to the SEC’s PAUSE list. The PAUSE list is maintained by the SEC and lists entities that falsely claim to be registered, licensed, and/or located in the United States in their solicitation of investors. PetronPay launched in 2020 as a 300% “oil barrels” themed Ponzi scheme.

The USFIA Receiver intends to file an Amended Distribution Plan (ADP). The ADP intends to deal with the IRS roadblock, currently holding up approved victim distribution payments.

Both the SEC and defendant Daniel Pacheco have had their motions for summary judgment denied. Both parties sought to get the upper hand via the filings, made in July 2021.

PLC Ultima has received a fraud warning from Mongolia’s Financial Regulatory Commission. PLC Ultima is part of Alex Reinhardt’s PlatinWorld Ponzi scheme.

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…]