BitClub Network’s Joby Weeks tests positive for cocaine
BitClub Network’s Joby Weeks has tested positive for cocaine. Citing Weeks’ drug habit and other violations, the DOJ has pushed back on Weeks’ requests for relaxed release conditions.
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Avlitex trading fraud warning from Belgium
Avlitex has received a trading fraud warning from Belgium’s Financial Services and Markets Authority (FSMA).
Ash Mufareh settles OnPassive fraud with SEC for $32 mill
OnPassive owner Ash Mufareh has settled fraud charges with the SEC for $32 million.
Alliance in Motion ordered to cease business in Vanuatu
Alliance in Motion has been ordered to cease business operations by the Vanuatu Financial Intelligence Unit (VFIU). VFIU commenced an investigation into Alliance in Motion (aka AIM Global), following a marketing event held at the Ramada Resort on August 5th.
Mike Sims up for contempt over mortgage shenanigans
Michael Shannon Sims, a defendant in the CFTC’s The Traders Domain Ponzi case, has been accused of mortgage shenanigans, hiding luxury watches and failing to disclose requested financial information. On July 28th, the Traders Domain Receiver filed a motion requesting Sims be ordered to show cause over multiple injunction violations.
Jason Brown & Matt Rosa settle FTC’s Iyovia fraud case for $36 mill
Iyovia defendants Jason Brown, Matthew Rosa and their company Global Dynasty Network, have settled fraud allegations brought by the FTC and State of Nevada for $36 million.
myWorld’s Joaquin Garcia de la Brena arrested in Spain
The head of myWorld Spain has been arrested on pyramid fraud charges. Spain’s National Police confirmed the arrest in a July 31st press-release.
TSSB sets aside Apertum Foundation fraud emergency order
As per a July 31st order, the Texas State Securities Board has opted to set aside its Apertum Foundation emergency order. The order, issued on March 20th, pertains to ongoing alleged securities fraud. In addition to Apertum Foundation, TSSB’s order named Josip Heit, Dirc Zahlmann, Bruce Innes Wylde Hughes and Dennis Christopher Loos as respondents.
MWR Life throws Catherine Techer under the bus
Back March BehindMLM received a reader request for an updated MWR Life review: Then, another reader reached out in late May claiming MWR Life had a new compensation plan: MWR Life has made its way up the review list with an update due soon. In the meantime, I couldn’t have predicted what happened next.
Juan Carlos Reynoso denied OmegaPro pretrial release
Following the arrest of top OmegaPro Ponzi promoter Juan Carlos Reynoso on June 30th, the DOJ was initially denied a motion seeking pre-trial detention. The DOJ filed an emergency motion challenging the order on July 3rd. The court stayed Reynoso’s release and held a second hearing on the matter on July 23rd. Following the hearing, [Continue reading…]
