MLM @ BehindMLM

It’s been seven months since our last Saivian update. The case has been progressing but up until now there hasn’t been any significant events. On May 3rd a joint motion was filed requesting a stay on the SEC’s Savian fraud case. The stated reason for the requested stay was mediation.

As per our last update, Jason Cardiff had been given until May to secure VPL Medical mask contracts. Failing which the Redwood Receiver had been directed to cease funding the company’s operation. Since then we’ve also had the AMG Supreme Court decision, further complicating proceedings.

Belgium’s Financial Services and Markets Authority has issued securities fraud notices against EndoTech, CashFX Group and Mirror Trading International. As per the FSMA, EndoTech, CashFX Group and MTI are offering what they refer to as “expert advisors” schemes.

Muhammad Zafar, one of OneCoin’s top earners, has been arrested in Pakistan. Zafar is facing fraud charges in relation to his promotion of “OneCoin and others”.

The recent AMG Supreme Court decision has created a headache for the FTC. Following the decision, Success by Health now seek to dissolve the granted preliminary injunction. SBH also wants the Receivership to return any funds obtained as fees paid by the company.

After four years of literally doing nothing, BaFin are investigating a German OneCoin promoter’s website.

Frank Schneider, a key figure in OneCoin’s money laundering operations, has been arrested in France. Schneider is also believed to have tipped off Ruja Ignatova about the FBI investigation, leading to her disappearance.

Back in October 2019 the Traffic Monsoon Receiver sought to employ local attorneys to go after Canadian net-winners. The motion was denied later the same month. In denying the motion, the court recommended the Receiver ‘solicit multiple bids from attorneys experienced in this area of Canadian law’. On April 26th the Receiver filed a new [Continue reading…]

Although it’s been on my radar, BehindMLM hasn’t covered the AMG v. FTC lawsuit as it isn’t itself an MLM related case. That said, on April 22nd the Supreme Court handed scammers a victory. That victory has ramifications for MLM fraud related lawsuits.

While South African authorities continue to twiddle their thumbs and do nothing, liquidation proceedings against Mirror Trading International’s ringleaders continues. The latest decision has seen provisional sequestration granted against Johann and Nerina Steynberg.