MLM @ BehindMLM

DAO1 has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC).

Convicted iComTech Ponzi scammer David Brend has been sentenced to $195,305 in forfeiture.

Trevon James Brown’s BitConnect settlement conference has been delayed till April 2025.

Holton Buggs has been sanctioned for failing to cooperate with the Traders Domain Receiver. As detailed by the Receiver in his February 5th Second Report;

Manifest has received a securities fraud warning from the UK’s Financial Conduct Authority (FCA). Citing Manifest by its parent UK shell company Manifest Ventures Ltd., the FCA’s January 29th warning states;

Payza’s Firoz Patel has been sentenced to 41 months in prison for obstruction (~3 years and 5 months).

Jason Cardiff has been declared a fugitive on the run from US authorities. The court’s declaration follows a February 4th ex-parte motion from the DOJ, seeking fugitive status and an arrest warrant. In its February 5th order the court advised “an arrest warrant will issue”.

In March 2024 the CFTC secured a $64.3 million settlement against EmpiresX’s parent company Empires X Consulting. I figured that was the end of the case and left it there. Turns out additional judgments against the individuals behind EmpiresX were pending.

As disclosed in a February 4th Status Report, a residence turned over to the Fundsz Receiver has been surrendered in an uninhabitable condition with floorboards removed and garbage, feces, and maggots throughout the house. As part of her court-ordered duties to recover assets, the Fundz Receiver traced purchase of then defendant Rene Larralde’s $1.9 million [Continue reading…]

Following an internal investigation, Argentina’s CNV has acquitted Generation Zoe founder Leonardo Cositorto. The CNV found that, although Generation Zoe was an MLM crypto Ponzi that defrauded consumers out of $747 million pesos (~$36.1 million USD), Cositorto didn’t “operate with bonds, shares or other negotiable securities”.