MLM @ BehindMLM

FutureNet Ponzi scammer Stephan Morgenstern will be extradited from Albania to South Korea. Following Morgenstern’s rearrest in Albania after he fled Greece last year, South Korean authorities renewed extradition proceedings.

The UK’s FCA has issued multiple securities fraud warnings against GSB Gold Standard Corporation associated companies. On March 21st the FCA issued fraud warnings against G999, Lydian World and Gold Standard Trade (aka GSTrade).

Belgium’s Financial Services and Markets Authority (FSMA) has issued three MLM related fraudulent trading platform warnings. In a warning published on March 14th, the FSMA “strongly advises against responding to any offers of financial services made by” CosCoin, Onewiex and FVP Trade.

After accusing them of “serious misconduct”, MTI kingpin Clynton Marks applied to have court-appointed liquidators removed. As reported by MoneyWeb on March 18th, Western Cape High Court rejected Marks claims

A court has found the SEC getting some dates wrong in its Debt Box case constitutes bad faith. Financial sanctions have been imposed and the SEC’s request to dismiss the case for refiling has been denied.

CBI Global founder Coenraad Botha (69) and wife Charlotte Murove (31) have been charged with sixty-three criminal offenses related to the CBI Global Ponzi scheme. Following their arrest on Monday the 11th , a defense attorney argued Botha’s and Murove’s arrest was unlawful. Based on there being no appropriate warrants issued for Botha or Murove, [Continue reading…]

Following conclusion of their iComTech trial on March 14th, a jury took just three hours to unanimously find David Brend and Gustavo Rodriguez guilty of conspiracy to commit wire fraud.

8 Figure Dream Lifestyle defendant Alex Dee has been arraigned. Following Dee’s arrest on January 10th, Dee finally made his initial appearance on February 20th.

New Zealand’s Commerce Commission has issued an official warning against two Validus promoters. The NZCC operates as New Zealand’s FTC equivalent. In addition to the Financial Markets Authority’s investigation, which led to Validus being banned nation-wide last July, the NZCC opened up its own Validus investigation in late 2022. As reported by NBR on March [Continue reading…]

EmpiresX, currently under Receivership as Empires Consulting, has settled commodities fraud charges with the CFTC. The proposed settlement against Empirex details a permanent injunction and $32.1 million civil monetary penalty.