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Victim group calls for “urgent action” against QNet in India

Oct.28, 2023 in QNet, regulation 2 Comments

QNet fraud across India is so rife that there are victim’s associations set up specifically to combat the pyramid scheme. Following increased illegal QNet recruitment in Manipur, the statewide QNet Fraud Victim’s Welfare Association has called for “urgent action”

Traffic Monsoon’s Imtiaz Aslam cops $6.9 mill judgment

Oct.25, 2023 in regulation, Traffic Monsoon 1 Comment

Imtiaz Aslam (aka Immy Aslam), has copped a $6.9 million default judgment. Aslam, a UK national, was second in Traffic Monsoon under incarcerated founder Charles Scoville.

18 QNet Vihaan arrests in India, BFH covers up fraud

Oct.24, 2023 in QNet, regulation Leave a Comment

Over the past few days eighteen QNet scammers have been arrested in India. On October 21st police arrested seventeen people in Jaipur for promoting QNet.

BitConnect’s Glenn Arcaro cops $28 mill judgment in SEC case

Oct.23, 2023 in BitConnect, regulation 3 Comments

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

SEC v. OnPassive fraud case referred to mediation

Oct.21, 2023 in OnPassive, regulation 14 Comments

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

ITP Corp changes domain after reported blocking in UK

Oct.20, 2023 in click a button app Ponzis, companies, regulation 17 Comments

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 Review: Scammers arrested in Philippines

Oct.20, 2023 in MLM Reviews, regulation 1 Comment

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 securities fraud warning from Austria

Oct.20, 2023 in companies, regulation 3 Comments

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 pyramid scheme fraud warning from Russia

Oct.19, 2023 in companies, regulation 7 Comments

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.