MLM @ BehindMLM

Konstantin Ignatov has received time served for his role in OneCoin. As reported by Matt Lee of Inner City Press, Ignatov will also be subject to two years supervised release and $118,000 in forfeiture.

LegacyX, the second reboot of the collapsed Trust Your Universe Ponzi scheme, is under investigation in Germany.

The HyperTech Group series of Ponzi schemes have received a securities fraud warning from the Australian Securities and Investments Commission (ASIC). HyperTech Group related Ponzi schemes cited by ASIC in their March 1st warnings include:

Serial Ponzi scammer Edward Zimbardi (aka Ed Zimbardi), has been arrested in the Netherlands. As first spotted by Brandon @ Ponzi Patrol, WSB-TV Atlanta reports Zimbardi “has been arrested and charged with money laundering overseas.”

BitClub Network scammer Joby Weeks has had his bail conditions downgraded back to home incarceration. A February 22nd petition filed by a Pretrial Services Officer requested the change, pending an also requested bail review hearing.

GSB Global has received a securities fraud cease and desist from Texas. Respondents named in the Texas State Securities Board’s February 29th order are GSB Global, Carson Williams, Sheila Thompson, Patrick Snider and Keneth Henderson.

An investigative report from Norway has provided insight into Anthony Norman’s criminal case in Sweden. As per a February 8th report from Kapital, “the money trail leads to money laundering and international organized crime.”

A new study from Truth in Advertising (TINA), claims 98% of studied MLM companies are using misleading income claims. In other words, of the hundred MLM companies TINA studies, 98 percent are openly violating the FTC Act.

NovaTech FX has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC).

Following a Motion for Judgment filed on January 31st, Steven Chiang copped a $3.3 million judgment on February 1st.