John DeMarr pleads guilty to Bitcoiin fraud charge
After pleading not guilty to four counts of Bitcoiin related fraud in April, a few days ago DeMarr entered a change of plea.
MLM @ BehindMLM
Global Investment Trading fraud warning from Quebec, Canada
Global Investment Trading (dba Liyeplimal), has received a fraud warning from Quebec’s Autorite Des Marches Financiers.
Oman bans MLM, equates it to “pyramid marketing”
Oman’s Ministry of Commerce has equated MLM to “pyramid marketing”. As a result of the classification, Oman has issued a directive banning MLM nationwide. The Ministry of Commerce outlawed MLM in Oman as per the Trade Law, Royal Decree No. 55/90.
Kovars not putting up a fight in SEC’s Profit Connect case
Defendants Brent Carson Kovar and Joy Irene Kovar stand accused of running Profit Connect, which the SEC alleges was a $12 million dollar Ponzi scheme. Recent filings suggest the Kovars don’t intend to put up a fight.
Global Trading Club scammers settle CFTC fraud charges
The CFTC has approved settlements with three of four Global Trading Club scammers. The Global Trading Club settlements were presented to the court on July 27th as consent orders.
Kirill Doronin facing ten years in prison over Finiko fraud
Following his arrest last Friday, details of Kirill Doronin’s criminal charges have been revealed. Russian authorities have charged Doronin ‘under Part 4 of Article 159 of the Criminal Code (fraud by a group of persons or on an especially large scale)’. If convicted, Doronin faces a maximum ten year prison sentence.
Argentinian OneCoin arrests climb to fourteen (4 new)
As part of the ongoing Argentinian investigation into OneCoin, prosecutors in Cordoba have approved the arrest of four additional suspects. Rodrigo DomÃnguez, Aldo Leguizamón and two other people stand accused of defrauding clients through the OneCoin Ponzi scheme.
Eric J. Dalius’ Saivian fraud case fails mediation, heads to trial
Defendants Eric J. Dalius and Ryan Evans have failed to reach a settlement with the SEC. As a result, the Saivian Ponzi scheme fraud case will now head to trial.
Finiko founder Kirill Doronin arrested by Russian authorities
Russian authorities have arrested Finiko founder Kirill Doronin. According to Russian media reports, Doronin was picked up and detained in Kazan, Tartarstan.
Finiko Ponzi leader arrests in Kyrgyzstan
Authorities in Kyrgyzstan have arresed several local promoters of the collapsed Finiko Ponzi scheme. As reported by 24 KG; Criminal police officers detained suspects in organizing the FINIKO financial pyramid. This was reported by the press service of the Internal Affairs Directorate of the Leninsky district of the capital. Local promoters of the scam were [Continue reading…]
