MLM @ BehindMLM

A CashFX Group criminal investigation has been confirmed on the UK Police Major Incident Public Reporting Site. As spotted by Harry Page of the FaceBook Group “CashFX (in association with EverFX) Scam – Now What!?“, Essex Police appear to be leading the investigation.

The CFTC has secured a preliminary injunction against the Fundsz Ponzi Defendants. The preliminary injunction was ordered on August 23rd, following consent motions filed on August 21st and 22nd.

A fourth suspect behind the E-Creator “click a button” Ponzi scheme has been arrested. After E-Creator collapsed, Abraham Mutambu fled to his rural home in Chihota, a region in Zimbabwe’s east. Zimbabwe authorities made the arrest last week, presenting Mutambu in court on Saturday.

In violation of a court-ordered Statutory Restraining Order (SRO), Fundsz admins continue to provide investors with fake trading results. The CFTC has also responded to an emergency motion filed by Rene Larralde, seeking dissolvement of the granted SRO.

The outcome of Michael Glaspie’s SEC civil fraud lawsuit hinges on sentencing in parallel criminal proceedings. Glaspie was sued by the SEC back in January as a promoter of the Mike G Deal (aka CoinDeal). Following a lack of updates from the SEC, the court ordered the regulator to “show cause” by August 4th.

If you’re wondering what happened to Johannes Steynberg following his Brazilian arrest in January 2022, you’re a not alone. Turns out, rather than extradite Steynberg to the US or South Africa, that Brazilian authorities charged Steynberg with “assuming a false identity”. As reported by Jan Vermeulen of MyBroadband, Steynberg has been found guilty.

Christopher Scanlon’s Nvayo Limited has been hit with a number of regulatory restrictions by the FCA. On August 8th, the FCA imposed six restrictions on Nvayo Limited’s business operations:

The CFTC has secured an asset-freeze against Fundsz and owners Rene Larralde, Juan Pablo Valcarce, Brian Early and Alisha Ann Kingrey.

The SEC has sued OnPassive and owner Ash Mufareh (aka Ashraf Mufareh), for $108 million in securities fraud.

Three of Jan Gregory’s MLM crypto Ponzi schemes have received fraud warnings from California’s Department of Financial Protection and Innovation. As per an August 9th press-release, the DFPI has cited CloudFi, CoinMarketBull and Vortic United for “violations of California securities laws”.