MLM @ BehindMLM

A third Digital Altitude defendant, Sean Brown, has reached a settlement agreement with the FTC. In line with previously reached settlements with The Upside LLC and Morgan Johnson, Brown’s settlement has been submitted to FTC Commissioners for approval.

Morgan Johnson, a named defendant in the FTC’s lawsuit against Digital Altitude, was the first individual to reach a proposed settlement. Back in May that settlement was presented to FTC Commissioners for approval, which appears to have since been granted. On June 29th the FTC filed a Joint Application seeking approval of a permanent injunction [Continue reading…]

In their lawsuit that alleges Digital Altitude was a $14 million dollar fraudulent business, the FTC identified The Upside LLC as a California company managed by Mary Dee and primarily used to open merchant accounts for credit card processing. Mary Dee being one of Digital Altitude’s principals and also a named defendant in the suit. [Continue reading…]

Despite being able to file claims since April, a surprisingly small number of victims have thus far sought to recoup their losses. Owing to a “substantially lower than anticipated” number of submitted claims, the Receiver is seeking a 90 day submission extension.

Despite Zhunrize being a $100 million Ponzi scheme and pretty much every insider reaching a clawback settlement with the Receiver, Jeffery Todd Spencer believes the $350,000+ he received is his to keep. In a filed June 28th Joint Preliminary Report, additional details of Spencer’s clawback lawsuit have been revealed.

There’s been a recent spate of incidents where white people call the cops on black people not breaking the law in the US. Due to the technological age we live in, the altercations, seemingly sparked by race, have been caught on camera. Last Sunday Stephanie Sebby-Strempel, since dubbed “Pool Patrol Paula”, took it upon herself [Continue reading…]

In an Form 10-K annual report published a few hours ago, Investview has revealed a $150,000 fine by the CFTC.

The second individual subject to clawback litigation in the USFIA case, is Steve Chen’s wife, Li Zhao (aka Jennifer Zhao). Through a number of shell companies, Zhao received and/or benefited from millions of dollars in stolen investor funds. The primary company used to launder investor funds for the benefit of Zhao was Ally Investors LLC. [Continue reading…]

Whenever we see a major regulatory bust, there’s always at least one individual or entity that believes the rules don’t apply to them. For whatever reason, the concept of “funds obtained through illegitimate business activities don’t belong to you” doesn’t ring home. Following the recent FTC shutdown of MOBE, Qualpay have stepped up and demanded [Continue reading…]

Hopes that Digital Altitude may be able to continue its business operations have been dashed, following a declaration by the court-appointed Receiver. In his Second Interim Report, the Receiver bluntly states he has not resumed operations, and has no plans to do so, as he has not determined a feasible means of resuming operations in [Continue reading…]