MLM @ BehindMLM

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.

The SEC has secured an Entry of Default against Emerson Pires in his Mining Capital Coin fraud case. As with his parallel EmpiresX fraud case, Pires failed to file a response to the SEC’s Mining Capital Coin lawsuit.

CryptoProgram has been ordered to cease trading in British Columbia, Canada. The British Columbia Securities Commission issued the order after CryptoProgram was confirmed to be committing securities fraud.

Fintoch has received a securities fraud warning from Singapore. The Monetary Authority of Singapore added Fintoch to its Investor Alert List on May 4th.

The SEC alleges Root Wellness founder Clayton Thomas stole $730,000 from an investor back in 2019. Rather than defend the SEC’s charges, Thomas has opted for a settlement. As alleged by the SEC in their May 9th Complaint, Thomas told the investor funds ‘would be used to purchase certain medical devices called the TM-Flow System.’

While South African authorities haven’t done much on the criminal side of things, last year SARS, the country’s tax regulator, informed MTI’s Liquidators it intended to bill them $34.46 million. This amount, representing unpaid taxes by the $1.7 billion Ponzi scheme, was just shy of total recovery. As of March 2023, the dispute between MTI’s [Continue reading…]

Björn Strehl, OneCoin founder Ruja Ignatova’s ex-husband, has been charged with money laundering. German prosecutors from Darmstadt have completed their investigation into Strehl. Their findings have now been forwarded to Darmstadt’s Regional Court.

The Receiver representing EmpiresX in Florida, has submitted a proposed settlement to the SEC. The settlement is before the SEC’s Commissioners, who typically take 6 to 8 weeks to accept or reject.

Forcount Boris CEO Salvador Molina, played by Spanish national Nestor Nunez, was arrested in Spain on December 28th, 2022. This wasn’t publicly known until last month, following Nunez’s arrest upon touching down in the US last month.