MLM @ BehindMLM

Following Kenneth Bell’s appointment as a District Judge, Matthew Orso has taken over the Zeek Rewards Receivership. In a May 22nd announcement, Orso has provided a roadmap towards final distribution payments.

Following the FTC’s push towards contempt proceedings, Eric Pinkston has decided to fully cooperate with the regulator. To that end Pinkston and the FTC have agreed on final judgment penalties, which have been submitted to the Commission for approval.

The SEC has filed suit against iPro Network, alleging the scam and founder Daniel Pacheco stole $26 million from investors. In addition to iPro Network and Daniel Pacheco (right), relief defendants named in the SEC’s May 22nd lawsuit include

Payment processor Allied Wallet has been sued by the FTC for violations of the FTC Act. The regulator alleges Allied Wallet assisted “business opportunity and coaching scams, pyramid schemes, and unlawful debt collection operations” with illegally charging over $110 million to consumer accounts.

Brazilian authorities have issued a FX Trading Corp investment fraud warning.

AdvoCare has announced that it is dumping it’s MLM opportunity. The decision was made following “confidential talks” with the FTC.

In an announcement published earlier this month, the Zeek Rewards Receiver has provided some updates on final distribution payments.

A second writ deadline extension has given Charles Scoville another month to delay Traffic Monsoon proceedings with.

The last Zhunrize defendant holding out has settled with the Receiver. Todd Spencer was named as a clawback defendant in the Zhunrize Receiver’s $2.8 million Vodaware lawsuit. Through Vodaware, Spencer is believed to have received upwards of $350,000 in stolen Zhunrize investor funds.

OneCoin has stopped defending its fraudulent business model. Instead, the company now claims it’s not a Ponzi pyramid scheme because only IMAs were scammed.