MLM @ BehindMLM

Passivo is under regulatory investigation by BaFin, Germany’s top financial regulator.

iX Global’s and Debt Box’s combined securities fraud has climbed to over $110 million. This is up from the original $49 million the SEC sued the companies for last month.

As per a motion seeking a contempt order and sanctions, Debt Box’s owners appear to be hiding and attempting to sell frozen assets. Debt Box’s owners are also allegedly not cooperating with a court-appointed Temporary Receiver. As noted in Temporary Receiver’s filing, these are direct violations of a previously granted Temporary Restraining Order.

Apex376 Partners, as Apex 376 Partners LLC, has been added to the SEC’s PAUSE list.

The collapse of the eBayShop “click a button” app Ponzi has hit Fiji hard, prompting an official government response. eBayShop was a typical “ecommerce” ruse click a button app Ponzi. Gullible investors were led to believe “clicking a button” in an app corresponded with eBay orders.

The Washington State Department of Financial Institutions has issued a fraud warning pertaining to COS. Describing COS as a “fraudulent cryptocurrency trading platform”, DFI took action following a consumer complaint. COS is a simple “click a button” app Ponzi run by Chinese scammers. As part of the ruse, COS pretends to be based out of [Continue reading…]

Brazil’s Federal Police (PF) launched Operation Yang on September 13th. The enforcement action follows a criminal investigation, which began last year in August. Details in a a press-release issued by the Federal Police suggest they are targeting Mining Capital Coin.

The SEC has initiated administrative proceedings against Youngevity. The federal regulator took action after noting Youngevity has “not filed any periodic reports since” September 2020.

OneCoin co-founder Sebastian Greenwood has been sentenced to 20 years in prison. Citing the need for “general deterrence” against MLM Ponzi schemes, Judge Ramos handed down Greenwood’s sentence on September 12th.

The CFTC’s initial Complaint against Fundsz has been dismissed. In an order handed down on August 31st, Judge Berger cited the CFTC’s Complaint as an “impermissible shotgun pleading”.