MLM @ BehindMLM

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.

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…]