MLM @ BehindMLM

HyperFund co-founder Sam Lee and promoter Brenda Indah Chunga have been charged by the SEC. The SEC cites HyperFund as a ~$1.7 billion dollar Ponzi scheme. This tracks with BehindMLM’s HyperFund review, published back in 2021.

HyperFund co-founder Sam Lee and promoters Rodney Burton and Brenda Chunga have been indicted. Lee, aka Xue Lee and Samuel Lee, has been charged with conspiracy to commit securities fraud and wire fraud. Burton has been charged with conspiracy to operate an unlicensed money transmitting business and operating an unlicensed money transmitting business. Chunga, who [Continue reading…]

Investview’s former accounts have been fined $400,000 for filing dodgy audits with the SEC. One individual accountant has also been fined $65,000 and barred from being associated with a registered public accounting firm.

OneCoin money launderer Mark Scott, 55, has been sentenced to ten years in prison.

The Streakk Ponzi scheme has rebranded as Earn World. Earn World has been set up on a single-page website on the domain “earn.world”, first registered in 2017. The private registration was last updated on May 24th, 2023, which is likely around the time Streakk acquired it. This coincides with the collapse of Streakk’s STKK token.

GSPartners (aka GSPro), owner Josip Heit and promoter Michael Lynn “El” Dalcoe have been fined $500,000. The fine was handed down as part of an emergency cease and desist, issued by Georgia’s Commissioner of Securities on January 22nd, 2024.

New Zealand authorities have seized a house and $462,000 in cash. The assets are believed to belong to OneCoin fugitive Frank Schneider.

EvoRich Ponzi founder Andrey Khovratov has been sentenced to five years in prison. Prosecutors had asked the court for a six year sentence. Following his arrest attempting to flee Russia in early 2022, Khovratov was charged with five counts of participating in fraud via organized crime.

iComTech promoter Marco Ruiz Ochoa has been sentenced to five years in prison. As per Ochoa’s January 19th judgment, in addition to his prison sentence he’s up for $914,000 in forfeiture and “any and all property” connected to iComTech. Further restitution has been deferred till April 3rd, 2024.

AutoTrade Gold founder Wahyu Kenzo (aka Dinar Wahyu Saptian Dyfrig), has been sentenced to ten years in prison. Kenzo was also fined Rp. 10 billion (~640,000 USD). Kenzo and two accomplices were arrested in early 2023. Indonesian authorities charged the scammers over operation of AutoTrade Gold, an alleged was a $582 million Ponzi scheme.