MLM @ BehindMLM

The Alabama Securities Commission has sent out a questionnaire to GSPartners investors. Dated April 15th, the ASC’s questionnaire provides an opportunity for GSPartners investors to provide details pertaining to their individual circumstances. Oh, and the ASC also knows about Billionico…

Gregory Aggesen has pled guilty to conspiracy to commit wire fraud, conspiracy to commit money laundering through promotion and conspiracy to obstruct justice. The charges were filed against Aggesen in early 2022, as part of a group of indictments targeting EmpowerCoin, ECoinPlus and JetCoin scammers.

Mardy Eger, aka Marquis Demarking Egerton, has pled guilty to conspiracy to commit wire fraud and conspiracy to commit money laundering with concealment. The charges were filed against Eger in early 2022, as part of a group of indictments targeting EmpowerCoin, ECoinPlus and JetCoin scammers.

BFF Crowdfunding has collapsed following a fraud warning from the Australian Securities and Investments Commission. BFF Crowdfunding, which also went by BFF Global Network, was a 400% ROI Ponzi cycler. The scam was run by Mike Taylor, a US resident of Texas.

William White has pled guilty to one count of conspiracy to obstruct justice. The charge was filed against White in early 2022, as part of a group of indictments targeting EmpowerCoin, ECoinPlus and JetCoin scammers.

Verse Network has received a securities fraud warning from France. As per the Autorite des Marches Financiers’ April 4th warning, Verse Network is “offering investments in … crypto-assets, without being authorized to do so”.

Several respondents in the Texas State Securities Board’s previously issued GSPartners emergency cease and desist order have lost their right to appeal. These include GSPartners executives Dirc Zahlmann, Bruce Hughes and Aline Lima, as well as the failed Swiss Valorem Bank rebrand.

ProCap International has received a securities fraud warning from Hong Kong. As per the Securities and Future Commission’s April 8th warning, ProCap

Following the arrest of twenty ProCap Insurance scammers last October, the Philippine SEC noted the Ponzi scheme was still being promoted in the Philippines. Apparently the foregoing [arrests] did not deter ProCap from carrying out its unauthorized investment-taking activities as the EIPD showed another evidence that ProCap is continuously offering/selling its unregistered securities. ProCap had [Continue reading…]

Today on April 10th, 2024, BehindMLM turns fourteen. This is a look back on the past twelve months, published as our annual “State of the Scam” report.