MLM @ BehindMLM

Malaysian and Chinese police have seized $900 million tied MBI International, a Ponzi scheme run by Tedy Teow Wooi Huat (aka Zhang Yufa).

The SEC is hunting down QZ Asset Management Ponzi scammers in China. After defrauding consumers out of “millions of dollars” , QZ Asset’s Blake Yeung Pu Lei went into hiding. The SEC believes Lei (below) is hiding in China, although its first attempt at finding him came up blank.

Avlitex has received a securities fraud warning from the Ontario Securities Commission (OSC). As per OSC’s May 23rd Avlitex warning;

Bank of America has reached a settlement with the Profit Connect Receivership for $1.825 million. As per a motion seeking settlement approval filed on June 5th;

Lquid Finance, dba LquidPay, has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC). As per ASIC’s June 6th Lquid Finance and LquidPay warning;

TriumphFX has received a securities fraud warning from Seychelles’ Financial Services Authority (FSA). As per the FSA’s May 20th TriumphFX warning;

Lquid Finance, dba LquidPay, has received a fraud warning from New Zealand’s Financial Markets Authority (FMA). As per the FMA’s May 2nd, 2025 Lquid Pay warning;

Foreword: Due to Russia’s war on Ukraine, accessing Russian websites from outside of Russia is currently problematic. This article cites the Russian Ministry of Internal Affairs and Izvestia. Although links to both sources are provided, they are unlikely to work when accessed from outside of Russia. /end foreword   Antares Trade Ponzi scammer Alexey Zhirovkin (aka Aleksey [Continue reading…]

PGI Global Ponzi founder Ramil Ventura Palafox has violated his pre-trial conditions. It took Palafox just over a month to do so, following his arrest in late April. As per a May 28th Probation Officer petition seeking action on Palafox’s violation;

Three Crowd1 scammers have been sentenced to prison by Sweden’s Stockholm District Court. Swedish authorities took action and raided Crowd1’s Swedish offices in November 2022. The raid resulted six arrests on corporate money laundering criminal charges: Jens Lennart Lorentsson Anneli Carina Lundell Conny Tore Otteland Ann-Christine Sigvardsson Nils Johan Anders Westerdahl (right) and Natalie von [Continue reading…]