MLM @ BehindMLM

A November 16th post on Craig Grant’s Steemit account suggests he’s been hauled before the Middle District Attorney’s Office of Florida.

A resident of the town of Meissen has been ordered to compensate victims he lured into the OneCoin Ponzi scheme. This is the second civil case the man has lost, on top of a criminal case filed by Bielefeld Prosecutors.

Last we checked in the scheduled January 2019 Infinity2Global criminal trial had been postponed. As per a November 5th order, a new jury trial date has been scheduled for July 22nd, 2019.

Japanese authorities have arrested eight individuals, who they claim are behind the Sener Trader Ponzi scheme. Sener Trader launched in 2017 on the heels of Eagle Gates Group’s demise. The latter Ponzi collapsed in February 2017, with Sener Trader emerging a few months later in May.

Daniel Filho’s long-running criminal case saga has come to end, following the dismissal of his indictment. DFRF Enterprises launched in mid 2014 and was primarily pitched to TelexFree Ponzi victims. The SEC shut DFRF Enterprises down in July 2015. The DOJ were pursuing a criminal case in tandem, which led to the arrest of owner [Continue reading…]

In August 2017 two of the most prominent websites used to promote scams were taken offline within minutes of each other. The MoneyMakerGroup and TalkGold forums, owned by brothers Edward and Brian Krassenstein, were used to promote fraudulent investment and pyramid schemes for over a decade. The websites eventually caught the attention of the authorities, [Continue reading…]

The question of why Redwood Scientific Technologies stalled on providing the FTC with requested documents for over a year has been answered: Redwood knew a regulatory lawsuit would follow. In hindsight I can’t say I blame them really. Turns out consumer fraud is just the tip of the Redwood iceberg… Prepare to be disgusted.

New York isn’t too happy with Feroz Patel’s efforts to keep Payza afloat. On October 24th the New York State Department of Financial Services issued Payza, founders Firoz and Ferhan Patel and associated companies MH Pillars, OboPay and MH Pillars with a cease and desist.

Although their position appeared particularly precarious at times, Redwood Scientific Technologies has finally satisfied the FTC’s Civil Investigation Demand.

FirstCoin Club was an MLM crypto Ponzi scheme launched mid 2017. FirstCoin Club affiliates invested real money for worthless FRST, an altcoin launched by the company. A monthly ROI in FRST was paid out, which affiliates could realize by selling their FRST to new gullible bagholders. Despite all Ponzi schemes inevitably collapsing, a disturbing number [Continue reading…]