MLM @ BehindMLM

The EminiFX Receiver has filed a report pertaining to the “financial condition” of the EminiFX Receivership. The good news for victims of the Ponzi scheme is “the bulk of the EminiFX assets” have been recovered.

France’s Autorite des Marches Financiers has added Mainet to its blacklist for securities fraud. The AMF has added two Mainet related website domains to its blacklist:

An Arizona court has ruled Success by Health was a pyramid scheme. Having now considered the disputed evidence in its capacity as finder of fact, the Court concludes that the FTC should also prevail on its pyramid scheme claim as to SBH. The decision marks the first significant MLM related win for the FTC since [Continue reading…]

A third individual has been charged in connection to the “Mike G Deal” investment scheme. Bryan Lee was indicted under seal on May 15th. Sometime between May 16th and May 19th Lee was arrested, leading to the unsealing of the indictment on May 18th.

As part of a massive 131 judgment, the Arizona court hearing the FTC’s case has held the Success by Health Defendants liable of evidence spoliation.

The Arizona Corporation Commission is looking to file a securities fraud cease and desist against We Sell Miners LLC and owner Jeremie Sowerby. The ACC’s Securities Division claims We Sell Miners LLC and Sowerby have violated Arizona’s Securities Act.

My BlockX has received a securities fraud warning from the Ontario Securities Commission (OSC). As per the OSC’s May 17th warning;

A new report from a court-appointed Monitor suggests Financial Education Services’ compliance efforts are heading in the right direction. The FES Monitor filed his first report last November. In the report, which focused heavily on FES’ ongoing compliance efforts, the Monitor claimed “more can be done”. In a second report filed on April 27th, the [Continue reading…]

A year after his arrest in Russia, Andrey Khovratov remains in detention behind bars. In an attempt to secure release, Khovratov filed an appeal against his detention on March 24th. The court denied the appeal on April 17th. The order provides insight into the current status of Khovratov’s case.

Indian authorities have made arrests in relation to two “click a button” app Ponzi schemes.