MLM @ BehindMLM

The SEC is facing sanctions in its securities fraud case against Debt Box and iX Global. In a nutshell, the SEC’s attorneys got some dates wrong with respect to when the Debt Box defendants began transferring investor funds out of the US to the UAE. This led to a false sense of urgency, which the [Continue reading…]

Shao Bank has received a pyramid fraud warning from Russia. As per the Central Bank of Russia’s December 21st warning, Shao Bank exhibits “signs of a financial pyramid” scheme.

Simpy Bhardwaj, aka Simpy Gaur, has been arrested on charges related to the Gain BitCoin Ponzi scheme.

Ellev8 has received a securities fraud warning from New Zealand’s Financial Market Authority. As per the FMA’s October 12th warning;

The Blockchain Era has received a “suspected Ponzi and pyramid scheme” warning from New Zealand. As per the Financial Market Authority’s November 13th warning;

Banker Quotes has received a securities fraud warning from New Zealand’s Financial Market Authority. As per the FMA’s December 12th warning;

Infinity2Global defendant Jason Syn has escaped prison time. Following a December 19th guilty plea entered on one count each of conspiracy to commit mail fraud and securities fraud, Syn was sentenced to three years probation.

iComTech promoter Marco Ruiz Ochoa has pled guilty to one count of Conspiracy to Commit wire fraud. Ruiz-Ochoa and several iComTech scammers were indicted in October 2022. Ruiz-Ochoa was arrested in November 2022.

UK authorities investigating the collapsed CashFX Group Ponzi scheme have completed their investigation. Essex Police have opted to drop the case, owing to there being “no evidence anyone in the UK has committed criminal offenses”.

Onewiex has received a securities fraud warning from Ontario, Canada. As per the Ontario Securities Commission’s December 14th warning