MLM @ BehindMLM

BitConnect’s Glenn Arcaro has been sentenced to a $28 million judgment in his SEC fraud case.

An October 11th court order has referred the SEC’s fraud case against OnPassive to mediation.

UK internet service providers have begun blocking ITP Corp’s website. The ITP Corp Ponzi scheme was originally hosted on “itpro.top”. A new clone website has now been launched over at “itp.club”. In what appears to be an attempt to thwart fraud control efforts in the UK, ITP Corp hastily registered its spinoff domain on October [Continue reading…]

ProCap Insurance fails to provide ownership or executive information on its website. ProCap Insurance’s website domain (“procap.insure”), was privately registered on December 12th, 2022. In an attempt to appear legitimate, ProCap Insurance touts a shell company in Seychelles. Notwithstanding Seychelles being a tax-haven, for the purpose of MLM due-diligence shell incorporation anywhere is meaningless. Of [Continue reading…]

Passivo has received a securities fraud warning from Austria. The FMA warns investors against concluding transactions with Passivo Ltd. As per the FMA’s October 18th warning, Passivo “is not authorised to carry out banking transactions in Austria that require a licence”.

Safir has received a pyramid fraud warning from Russia. As per the Central Bank of Russia’s October 18th warning, Safir exhibits “signs of a financial pyramid” scheme.

9XProfits has received a securities fraud warning from New Zealand. As per the FMA’s October 6th warning, 9X Profits is a “suspected scam”.

Faraday Hosseinipour and Doyce Barnes have filed appeals against their Infinity2Global conviction. A jury convicted both scammers in September 2022. Barnes was subsequently sentenced to 4 years in prison in December 2022. Hosseinipour was sentenced to 2.5 years in July 2023.

Sam Lee and his We Are All Satoshi Ponzi scheme have received a Desist and Refrain Order from California. As per the Department of Financial Protection & Innovation’s September 27th order;

VBit Limited has received a pyramid fraud warning from Russia. As per the Central Bank of Russia’s October 11th warning, VBit Limited exhibits “signs of a financial pyramid” scheme.