MLM @ BehindMLM

YEM Foundation is under investigation by Germany’s BaFin regulator. As part of BaFin’s ongoing regulation, a YEM Foundation securities fraud warning was issued on March 22nd, 2024.

Indian authorities have seized ₹4.3 billion in cryptocurrency, gold and cash ($51.9 million USD). As reported by The Hindu on April 1st, the assets are tied to BitConnect’s “Divyesh Darji and others”.

Coenraad Botha has been fined R216 million ($11.3 million USD) by South Africa’s Financial Sector Conduct Authority (FSCA). Botha, a licensed lawyer in South Africa, has also been disbarred for ten years.

InvesableAI and the scammers behind it are under investigation in Singapore. As reported by the Straits Times on March 24th;

FutureNet Ponzi scammer Stephan Morgenstern will be extradited from Albania to South Korea. Following Morgenstern’s rearrest in Albania after he fled Greece last year, South Korean authorities renewed extradition proceedings.

The UK’s FCA has issued multiple securities fraud warnings against GSB Gold Standard Corporation associated companies. On March 21st the FCA issued fraud warnings against G999, Lydian World and Gold Standard Trade (aka GSTrade).

Belgium’s Financial Services and Markets Authority (FSMA) has issued three MLM related fraudulent trading platform warnings. In a warning published on March 14th, the FSMA “strongly advises against responding to any offers of financial services made by” CosCoin, Onewiex and FVP Trade.

After accusing them of “serious misconduct”, MTI kingpin Clynton Marks applied to have court-appointed liquidators removed. As reported by MoneyWeb on March 18th, Western Cape High Court rejected Marks claims

A court has found the SEC getting some dates wrong in its Debt Box case constitutes bad faith. Financial sanctions have been imposed and the SEC’s request to dismiss the case for refiling has been denied.

CBI Global founder Coenraad Botha (69) and wife Charlotte Murove (31) have been charged with sixty-three criminal offenses related to the CBI Global Ponzi scheme. Following their arrest on Monday the 11th , a defense attorney argued Botha’s and Murove’s arrest was unlawful. Based on there being no appropriate warrants issued for Botha or Murove, [Continue reading…]