MLM @ BehindMLM

Following dozens of complaints from consumers, the Norwegian Gambling Authority sent Be a warning letter last October. The letter advised that the Gambling Authority suspected Be was an illegal pyramid scheme.

Back in the day I associated .IO domains with silly but fun web games. These days .IO domains are synonymous with crypto fraud. Two groups aren’t happy about that, and in 2021 they filed a lawsuit against the .IO domain operator.

A consented to preliminary order has pegged Gilbert Armenta’s OneCoin forfeiture at over $50 million dollars.

Financial Education Services’ Motion to Dismiss FTC proceedings against it has been denied. The FTC filed suit against FES last June, alleging FES was a $467 million pyramid scheme. As part of those proceedings, FES filed a Motion to Dismiss on July 25th.

NovaTech FX has received a securities fraud warning from Quebec’s Autorite des Marches Financiers. NovaTech LTD was added to the AMF’s investor warnings list on February 3rd, 2023.

Vbit Technologies, a collapsed MLM crypto Ponzi, has attracted the attention of Montana’s state securities regulator.

Michael Glaspie, a serial promoter of fraudulent MLM schemes, has pled guilty to wire fraud. Glaspie’s criminal case stems from his promotion of the “Mike G Deal”, which the DOJ confirmed was a $55 million “investment fraud scheme”. At time of publication Glaspie’s criminal case has yet to appear on PACER. Nonetheless details of Glaspie’s [Continue reading…]

The NBH Finance Ponzi scheme has collapsed. In doing so, the scammers behind it have pulled a rather bizarre stock exchange exit-scam.

NovaTech FX has been issued a temporary cease trade order by the Ontario Securities Commission.

Forsage founder Vladimir “Lado” Okhotnikov has been indicted for conspiracy to commit wire fraud.