MLM @ BehindMLM

Following executed search warrants on January 11th, Indian authorities have frozen Rs. 6.4 million (~$77,000 USD). In a January 12th press-release, the Enforcement Directorate revealed the funds were tied to iX Global and TP Global FX.

Two former promoter of the 8 Figure Dream Lifestyle pyramid scheme have been sued by the FTC. A Complaint filed by the FTC on December 8th, 2023, names three defendants: Bob Shafer, aka Robert William Shafer, Coach Bob, Bo Hall, Bo Small, Bo Rich and Beau Rich, a resident of New York; Samuel James Smith, [Continue reading…]

David Carmona, founder of the iComTech Ponzi scheme, has pled guilty to one count of conspiracy to commit wire fraud. After initially pleading not guilty following his arrest in late 2022, Carmona changed his plea at a December 22nd hearing.

As a point of policy, BehindMLM’s contact form categorically states anything to do with “reputation management enquiries/demands” and “SEO” will be ignored. Unfortunately that doesn’t stop shady operators from falsely marketing they can get BehindMLM content removed. Today we’re covering marketing lies from Mike Munter and Matt Peters.

A German court has sentenced OneCoin promoter and money launderer Frank Ricketts to five years in prison. As tweeted by Johan von Mirbach, producer of the CryptoQueen docu series, Ricketts’ wife Manon Hubenthal received four years. Disgraced attorney Martin Breidenbach, who assisted Ricketts and Hubenthal with laundering OneCoin Ponzi funds, was sentenced to two years [Continue reading…]

Rodney Burton, aka “Bitcoin Rodney”, was arrested in Florida on January 4th, 2024. Burton has been indicted on HyperFund fraud charges, filed as part of a wider criminal case in Maryland.

COS and COSCoins have received securities fraud warnings from the UK. As per the FCA’s December 12th warning, COS and COSCoin are “not authorised … and may be targeting people in the UK”.

Validus has received a securities fraud warning from Dubai. As per a December 22nd alert from the Dubai Financial Services Authority;

Serial MLM crypto scammer Nicholas Coppola has been arrested in Italy. Coppola had been hiding out in Dubai… …but appears to have wanted to spend Christmas and the new year in his native Veneto. Coppola was arrested by Italian financial police in Veneto on December 28th.

GSPro has received a fraud warning from Arizona. As per the Arizona Corporation Commission’s December 27th investor alert;