MLM @ BehindMLM

On June 3rd a $778,455 final judgment was entered against Faith Sloan. Sloan’s judgment was part of the SEC’s case against TelexFree scammers, who collectively stole over $3 billion from their victims. As part of the judgment, Sloan is “permanently restrained and enjoined” from committing securities fraud. Trouble is that while her attorney was engaging [Continue reading…]

As part of a May 31st filed Status Report, the USFIA Receiver has provided an update on victim claims.

RegalCoin launched in late 2017, at the height of the BitConnect lending Ponzi craze. RegalCoin itself was unremarkable. In our September 2017 review, we noted it was just another BitConnect clone. Turns out this was true beyond the business model, following Indian authorities outing Divyesh Darji in connection to RegalCoin.

A Traffic Monsoon appeal court docket order has revealed Charles Scoville has until June 21st to file his Supreme Court writ.

Konstantin Ignatov’s preliminary hearing went ahead as scheduled on May 28th. In his capacity as “the top leader” of OneCoin, the DOJ charged Ignatov with conspiracy to commit wire fraud back in March. As per the Minute Entry for the hearing, Ignatov has plead not guilty to the charge.

Rwanda is the latest country to issue an investment scam warning against the OneCoin Ponzi scheme.

Authorities in Switzerland have announced My Crypto World and several related persons of interest are under criminal investigation.

The Australian Securities & Investments Commission is the latest regulator to issue a warning against the OneCoin Ponzi scheme.

Following a fight over handing back funds fraudulently obtained via MOBE, the Receiver has discovered new potential clawback claims against Synovus Bank and QualPay. Talk about kicking an own goal…

While I’m aware of the common association of cultish tendencies within MLM companies, it’s not something I tend to dwell on. Extreme fans can be found cheering anything on, so I think definitively drawing a line between fanaticism and a cult is pretty difficult. And it’s not made any easier by those inside or who [Continue reading…]