MLM @ BehindMLM

CFTC’s Fundz Complaint dismissed, Amended Complaint coming

The CFTC’s initial Complaint against Fundsz has been dismissed. In an order handed down on August 31st, Judge Berger cited the CFTC’s Complaint as an “impermissible shotgun pleading”.

Three IM Mastery Academy promoters charged in Poland

Three IM Mastery Academy promoters in Poland have been charged with promoting a pyramid scheme.

Bolivian Pay Diamond scammers arrested in Argentina

Two Bolivian Pay Diamond scammers have been arrested in Argentina. Following arrest warrants issued through Interpol, mother and son duo Brian Gutierrez (27) and Nilda Coque (47) were arrested in Buenos Aires.

iGenius, DreamTrips & Jifu under investigation in Poland

iGenius, DreamTrips and Jifu are under investigation in Poland. The Office of Competition and Consumer Protection (UOKiK), is specifically investigating whether these companies are pyramid schemes.

DOJ claims Infinity2Global’s Richard Maike released?

A reader got in contact earlier today to share an odd email from the DOJ, regarding Infinity2Global founder Richard Maike. As per the email, sent out as part of the DOJ’s Victim Notification System on September 8th; Defendant(s), Richard G. Maike, has been released from federal custody. The appeal in the case of defendant(s), Richard [Continue reading…]

CFTC secures $1.7 billion Mirror Trading International judgment

The CFTC has secured a $1.7 billion consent judgment against Mirror Trading International. The judgment follows settlement negotiations with South African liquidators, and a Joint Motion to approve the then proposed consent judgment on September 5th. The court signed off on the judgment on September 6th.

SAEG Receiver seizing Mike Sims’ assets

Following an asset deposition of Mike Sims back in May, the SAEG Receiver has begun seizing assets tied to fraud.

Sebastian Greenwood’s attorneys ask for time served

OneCoin co-founder Sebastian Greenwood is scheduled to be sentenced on September 12th. In the lead up to his sentencing, Greenwood’s lawyer filed a Sentencing Memorandum on August 29th. In the memorandum, Greenwood’s lawyers request Greenwood be sentenced to time served and deported.

OSC seeks disgorgement & civil penalty from NovaTech FX

The Ontario Securities Commission has filed a Statement of Allegations with Canada’s Capital Markets Tribunal. As per the August 25th filed statement, OSC has requested the CMT certify that NovaTech FX and owner CEO Cynthia Petion committed securities fraud in Ontario; issue a permanent injunction against NovaTech FX prohibiting further acts of securities fraud; reprimand [Continue reading…]

Charles Scoville’s wire and tax fraud indictment dismissed

Charles Scoville’s Traffic Monsoon indictment has been dismissed. On August 22nd the DOJ moved to dismiss the indictment. The court granted the motion on August 23rd.