MLM @ BehindMLM

A few days ago the BigWhale Ponzi scheme collapsed. BigWhale’s admins drained what was left in its smart-contract and, in an effort to cover up their exit-scam, concocted a “we got hacked!” ruse. Now it has been revealed that regulators were onto the multi-million dollar Ponzi scheme. On October 4th the Texas State Securities Board [Continue reading…]

AirBit Club co-founder Gutemberg dos Santos has been sentenced to 40 months in prison (3.3 years). Dos Santos’ sentence was handed down on October 4th, following sentencing hearings for co-conspirators Renato Rodriguez, Cecilia Millan, Karina Chairez and Scott Hughes.

Two AirBit Club promoters and a lawyer have been sentenced to between one and five years in prison. Following a twelve year sentence handed down to co-founder Renato Rodriguez last week, a sentencing hearing for Cecilia Millan, Karina Chairez and Scott Hughes was held on October 3rd.

Following news of EXW Wallet indictments and arrests in Austria, we learned that one scammer had been arrested in Brazil. Due to local laws however, unfortunately we didn’t know who it was. A BehindMLM reader who speaks Portuguese has now tracked down the relevant Brazilian court filing. We can now confirm the arrested EXW Wallet [Continue reading…]

NovaTech FX and Cynthia Petion have failed to put in an appearance at a recent regulatory hearing in Canada.

YunikonFX has received several securities fraud warnings from Malaysia. On 14th September, the Bank of Malaysia added YunikonFX and two related entities to its Financial Consumer Alert List. These include;

Michael Glaspie has been sentenced to six years in prison for his participation in the Mike G Deal. Glaspie, 72, will surrender himself to the BOP on February 14th, 2024. He has also been ordered to pay a $2.4 million monetary judgment.

Eight EXW Wallet suspects have been indicted in Austria. Two have been arrested and remain in custody pending the outcome of a criminal trial. Said trial kicked off on September 27th.

Jeremie Sowerby has been arrested on fraud charges related to multiple MLM crypto Ponzi schemes. Sowerby and co-conspirator Luis Ortega were indicted under seal on September 19th. The indictment details charges related to Now Mining, VIP Mining and Millennium Technologies.

Tecademics co-founder Jim Piccolo (aka James Philip Piccolo), has been sentenced to 18 months in prison. Piccolo was charged with tax fraud in January 2023. As alleged by the DOJ;