MLM @ BehindMLM

Resolution of several motions in the Success by Health case, have pushed the FTC’s claims against the Individual Defendants to the forefront. A hearing was held on February 17th, following which we’ve had some important decisions come in.

Argentine authorities believe Leonardo Cositorto is now hiding in the Dominican Republic. Wanted for financial crimes, Argentinian media are report an international arrest warrant has been issued through Interpol.

The SEC has been unable to locate Craig Grant for service in Jamaica. As an alternative, the regulator now seeks permission to effect service via email and publication.

Steve Chen, founder of the USFIA Ponzi scheme, has been sentenced to ten years in prison. Chen has also been ordered to pay back $49.2 million in restitution.

OmegaPro funds have been seized by UK authorities. The regulatory action occurred through OMP Money, a UK shell company set up by OmegaPro to access banking channels. OMP Money was in turn tied to Viola Money, which was shut down by UK authorities last December.

IX Inversors has received a securities fraud warning from Spain’s Comision Nacional del Mercado de Valores.

Generation Zoe’s Argentinian offices and three residential homes were raided last Friday. Authorities have since made four arrests. The Generation Zoe crackdown follows a securities fraud warning issued by Argentinian authorities.

DagCoin’s Success Factory Ponzi scheme has been banned by the Central Bank of Jordan. The CBJ’s nationwide Dagcoin ban was handed down as part of a 2019 Financial Stability Report.

A supplemental motion filed by the DOJ suggests Michael Noble is facing BitConnect criminal charges.

The Department of Trade and Industry has revealed plans to issue MLM companies with legitimacy seals. The seals aim to “protect consumers against trade malpractice”.