MLM @ BehindMLM

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.

Mindset 24 Global’s John Brian McLane Jr. has pled guilty to tax fraud. Following an IRS investigation, the DOJ filed charges against McLane in June 2022.