MLM @ BehindMLM

French authorities have dropped the ball, allowing OneCoin’s Frank Schneider to flee pending extradition to the US.

Four days after Luxembourg’s Commission de Surveillance du Secteur Financier issued a securities fraud warning, IM Mastery Academy held a marketing event in Kirchberg on May 29th. Police raided the event, which targeted “young students”, after receiving complaints from parents. The raids led to the arrest of several organizers of the event. IM Mastery Academy’s [Continue reading…]

The UK’s Financial Conduct Authority has announced a crackdown on financial advertising amid concerns about “the ease and speed with which people can make high-risk investments”. Of note is the banning of “refer a friend” commissions, which all MLM crypto schemes offer.

The USFIA Receiver is looking to to make a second ~$5 million distribution to victims.

Former Investview CEO Joseph Cammarata has had his bid for an acquittal denied. In a February 21st filed motion, Cammarata sought to reverse being convicted of mail and wire fraud conspiracy, wire fraud, money laundering and conspiracy to commit money laundering last November. On May 30th Cammarata’s post-trial motion was denied.

The FTC hopes a recent victory against Success by Health will factor into a pending decision in litigation against Neora.

Prolific Ponzi promoter Juan Carlos Reynoso has been released from custody. Mexican authorities were ordered to release Reynoso and his accomplices on June 1st.

Global Affiliate Business has been shut down in India. Indian authorities estimate the scam duped victims out of around $15 million.

On May 30th BehindMLM reported Ryan Morgan Evans, a California resident, was gearing up to face off against the SEC in court. Less than 24 hours later, Evans reached a settlement with the SEC.

Robert John McNulty, founder and CEO of the collapsed Tryp MLM company, was being hounded for securities fraud on his deathbed.