MLM @ BehindMLM

Financial Education Services’ court-appointed Monitor (formerly Receiver), has filed his first report. Overall FES has taken steps to address compliance, but top earners appear to still be flouting rules.

In a surprising development, Luxembourg’s government has confirmed it will not contest Frank Schneider’s extradition.

Following guilty pleas by two of the fourteen OneCoin defendants in Argentina, the pair have been sentenced to prison. Adolfo Domínguez and Aldo Leguizamón will serve three years and six months and four years and three months respectively.

In 2021 CashFX Group solicited $432 million from gullible investors, just shy of half a billion. In 2022 that amount has dropped to $112 million. On a macro level that might sound salvageable… until you consider that for October 2022, CashFX Group took in less than a million dollars.

Joseph Cammarata has been found guilty in connection to a securities fraud scheme.

Trade Coin Club’s owner, Director and two US-based promoters have been sued by the SEC. Defendants Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor and Jonathan Tetreault, are alleged to have stolen almost $300 million from consumers.

Despite an endorsement from corrupt government officials, Ghana’s Attorney-General Godfred Dame has prevailed against QNet. In an only recently reported on July 2022 judgment, QNet has been ordered to get out of Ghana.

Gustav Poola and Gilbert Pardla have been confirmed as the two unnamed DagCoin arrestees. Along with DagCoin founder Nils Grossberg and insider Kris Ress, Pardla and Poola were arrested last month by Estonian authorities.

The FTC v. Neora trial kicked off on October 17th and has been playing out. The FTC filed suit against Neora (then Nerium) back in 2019. The regulator alleges Neora is a pyramid scheme.

FutureNet co-founder Roman Ziemian has been arrested in Italy. Italian authorities dragged Ziemian from a podium win, cup in hand and still in his racing kit, on a South Korean arrest warrant.