Shaklee top earner John Cranney’s 11 year Ponzi scheme
John William Cranney, aka Jack Cranney, joined Shaklee back in 1967. He remained with the company until 2012. That same year Cranney was charged with running a $10.4 million dollar Ponzi scheme.
MLM @ BehindMLM
Omega Pro securities fraud warning issued in Spain
The Comision Nacional del Mercadeo de Valores (CMNV) has issued a securities fraud warning against Omega Pro.
FTC files for summary judgment against Cardiffs
The FTC has moved for summary judgment against all counts filed against Jason and Eunjung Cardiff. Default judgment has also been sought against their company Redwood Scientific Technologies.
Flexkom scammers convicted in Belgium
A criminal court in Antwerp has convicted Asker Sakinmaz, Cengiz Ehliz and Erwin Fally. The pair were behind the Flexkom pyramid scheme, which collapsed in 2017.
TelexFree victims receive early recovery distribution payments
Like most of you we weren’t really sure why a January 13th, 2021 date for distribution payments was set. Turns out that was more of a deadline, following reports from multiple TelexFree victims of received payments.
Plus Token scammers arrested in China
A year on from its collapse, Chinese authorities have arrested 109 scammers tied to the Plus Token Ponzi scheme.
Jay Noland unlikely to get Enhanced Capital Funding funds
A tentative ruling has signaled it is unlikely Jay Noland will gain access to ~$450,000 tied up in Enhanced Capital Funding. Enhanced Capital Funding (ECF) appears to be a shell company partially owned by Noland. The FTC asserts Noland owns 80% of ECF, with the remaining 20% owned by his wife Lina.
QNet human trafficking recruitment ring busted in Liberia
Evidently QNet International’s pyramid scheme isn’t doing to well, prompting the company to use human trafficking as a recruitment tool. No, that’s not a play on words. Authorities in Liberia have made arrests, smashing QNet International’s human trafficking ring.
Gilbert Armenta’s OneCoin fraud indictment
Gilbert Armenta, a resident of Florida, was a key figure in OneCoin’s money laundering operations. He has also been romantically linked to OneCoin’s founder, Ruja Ignatova. On September 12th, 2017, Armenta was indicted by a Grand Jury on three counts of extortion; conspiracy to commit extortion, attempted extortion and travel act extortion. Armenta was arrested [Continue reading…]
Mind Capital & EXW illegal in Italy, websites blocked
Mind Capital and Exchange Wallet, both MLM Ponzi schemes, have been declared illegal in Italy. CONSOB, Italy’s top financial regulator, has ordered both company’s websites blocked.
