MLM @ BehindMLM

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.

Following notice of a provisional settlement filed last November, Troy Sutton’s Profit Connect settlement has been approved.

The collapsed VBit Technologies Ponzi scheme has received a desist and refrain order from California’s Department of Financial Protection and Innovation (DFPI). VBit Technologies associated companies cited by the DFPI in their January 31st order include:

Following an order to file a Status Report regarding victim distribution by February 16th, the Traffic Monsoon Receiver has done so. Today we’re covering two filings, a February 13th Motion for Approval of Proposed Plan of Distribution, and the February 16th filed Status Report.