VictoriaBank’s petition for an appeal rehearing denied
The Zeek Rewards Receivership is one step closer to recovering $13.1 million from VictoriaBank, following the denial of rehearing petition.
MLM @ BehindMLM
Redwood Scientific Technologies continue to miss production deadlines
Our initial story on Redwood Scientific Technologies’ troubles with the FTC left off with an April 23rd show cause hearing. In a nutshell, Redwood Scientific Technologies, who own the MLM company Rengalife, have been accused of violations of the FTC Act. Rather than cooperate, Rengalife had failed to provide the FTC with requested information. Having missed [Continue reading…]
$2 million recovered from Zeek net-winners over 2018 first quarter
The Zeek Rewards Receiver’s Status Report for the first quarter of 2018 reveals another $2 million has been recovered from net-winners.
USI-Tech securities fraud cease and desist issued in Ohio
As part of Operation Cryptosweep, Ohio has issued USI-Tech with a securities fraud cease and desist. The May 18th notice identifies USI-Tech Limited as the sole respondent, through a PO Box address in Dubai.
DasCoin securities fraud cease and desist issued in BC, Canada
DasCoin is the latest MLM cryptocurrency to receive a securities fraud cease and desist. As part of Operation Cryptosweep, the British Columbia Securities Commission issued DasCoin with a cease and desist notice. As at the time of publication the DasCoin cease and desist notice hasn’t been made public. Nor do we know exactly when it [Continue reading…]
Kidnapping and extortion escapades in India reveal BitConnect owner?
A builder in India has been arrested as part of a Rs. 1.5 billion bitcoin extortion bust ($22.7 million USD). Three months ago local builder Shailesh Bhatt had filed a complaint with the Gujurat Criminal Investigation Department. In his complaint Bhatt alleged extortion by the Amreli police. Amreli is a district in Saurashtra, Gujurat. Upon [Continue reading…]
Trident Crypto Fund cease and desist issued in New Jersey
Trident Crypto Fund emerged in April 2018 as yet another MLM cryptocurrency Ponzi scheme. Built around the recently launched TDC ICO, Trident Crypto Fund solicits investment in bitcoin on the promise of daily ROIs of up to 1% in TDC points. Following an Operation Crypto-Sweep internal investigation, New Jersey has issued Trident Crypto Fund with [Continue reading…]
US cracking down on crypto scams through Operation Crypto-Sweep
The North American Securities Administrators Association announced Operation Crypto-Sweep on Monday. Through Operation Crypto-Sweep, NASAA has revealed seventy cryptocurrency company investigations. NASAA members from more than 40 jurisdictions throughout North America participated in “Operation Cryptosweep,” which to date has resulted in nearly 70 inquiries and investigations and 35 pending or completed enforcement actions related to [Continue reading…]
Payza’s Firoz Patel and wife pursued for millions in unpaid taxes
In addition to being a wanted fugitive on the run from money laundering charges in the US, Payza co-founder Firoz Patel is also in trouble with Canadian authorities.
119 OneCoin arrests in China, $7.1M of Greenwood’s funds frozen
Putting to shame the endless parade of warnings issued elsewhere in the world, Chinese authorities have made another 119 OneCoin related arrests. Public court documents have also detailed the recovery of a large sum of money stolen from OneCoin victims, including $7.2 million stashed in a bank account belonging to Sebastian Greenwood.
