MLM @ BehindMLM

Jeremie Sowerby has been arrested on fraud charges related to multiple MLM crypto Ponzi schemes. Sowerby and co-conspirator Luis Ortega were indicted under seal on September 19th. The indictment details charges related to Now Mining, VIP Mining and Millennium Technologies.

Tecademics co-founder Jim Piccolo (aka James Philip Piccolo), has been sentenced to 18 months in prison. Piccolo was charged with tax fraud in January 2023. As alleged by the DOJ;

The SEC has sued two additional promoters of the Mike G Deal (aka CoinDeal). Arline Woodbury (70) and Joyce Holverson (76), stand accused of “making and/or disseminating various false statements about CoinDeal when soliciting prospective investors.”

Following a bench trial held last October, the Northern District Court of Texas began deliberation on FTC v. Neora. On September 28th the court handed down its findings, ruling in favor of Neora.

The Toga Limited Ponzi scheme has lost its sham SEC registration. As part of efforts to dupe investors in Asia, Toga Limited heavily touted its SEC registration in its marketing.

AirBit Club co-founder Pablo Renato Rodriguez, 40, has been sentenced to 12 years in prison. On the money side of things, forfeiture was set at $65 million as per a previously consented to order back in March.

The CFTC has secured default judgment against SAEG Capital General Management and Fredirick Safranko. Following Entry of Defaults recorded against both SAEG and Safranko, default judgment was ordered on September 5th.

Kirill Medvedev has filed suit against Binance for allegedly freezing funds tied to the Nimbus Platform Ponzi scheme.

A September 21st sentencing guideline has recommended Michael Glaspie be sentenced to 46 to 57 months in prison (3.8 to 4.7 years). Joint restitution of $54.6 million has also been tabled.

Following an SEC lawsuit alleging $108 million in fraud, OnPassive appears to be diverting payments to Dubai. OnPassive affiliates report US banks are flagging the transactions as fraudulent.