MLM @ BehindMLM

Passivo has received a securities fraud warning from Austria. The FMA warns investors against concluding transactions with Passivo Ltd. As per the FMA’s October 18th warning, Passivo “is not authorised to carry out banking transactions in Austria that require a licence”.

Safir has received a pyramid fraud warning from Russia. As per the Central Bank of Russia’s October 18th warning, Safir exhibits “signs of a financial pyramid” scheme.

9XProfits has received a securities fraud warning from New Zealand. As per the FMA’s October 6th warning, 9X Profits is a “suspected scam”.

Faraday Hosseinipour and Doyce Barnes have filed appeals against their Infinity2Global conviction. A jury convicted both scammers in September 2022. Barnes was subsequently sentenced to 4 years in prison in December 2022. Hosseinipour was sentenced to 2.5 years in July 2023.

Sam Lee and his We Are All Satoshi Ponzi scheme have received a Desist and Refrain Order from California. As per the Department of Financial Protection & Innovation’s September 27th order;

VBit Limited has received a pyramid fraud warning from Russia. As per the Central Bank of Russia’s October 11th warning, VBit Limited exhibits “signs of a financial pyramid” scheme.

The Temporary Restraining Order freezing iX Global’s and Debt Box’s assets has been dissolved. The somewhat concerning court order was made on October 6th.

BigWhale has acknowledged an emergency cease and desist issued against it yesterday. And in doing so, has also confirmed the end of their “we got hacked!” exit-scam.

There have been no updates on FutureNet co-founder Roman Ziemian since his arrest in Italy. We’ve now learned that because, after arresting him, Italian authorities released Ziemian pending extradition. Moments after Italian authorities unlocked Ziemian’s cuffs, he of course promptly fled the country.

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…]