Youngevity hasn’t filed financial reports with SEC since 2020
The SEC has initiated administrative proceedings against Youngevity. The federal regulator took action after noting Youngevity has “not filed any periodic reports since” September 2020.
MLM @ BehindMLM
OneCoin’s Sebastian Greenwood sentenced to 20 years
OneCoin co-founder Sebastian Greenwood has been sentenced to 20 years in prison. Citing the need for “general deterrence” against MLM Ponzi schemes, Judge Ramos handed down Greenwood’s sentence on September 12th.
CFTC’s Fundz Complaint dismissed, Amended Complaint coming
The CFTC’s initial Complaint against Fundsz has been dismissed. In an order handed down on August 31st, Judge Berger cited the CFTC’s Complaint as an “impermissible shotgun pleading”.
Three IM Mastery Academy promoters charged in Poland
Three IM Mastery Academy promoters in Poland have been charged with promoting a pyramid scheme.
Bolivian Pay Diamond scammers arrested in Argentina
Two Bolivian Pay Diamond scammers have been arrested in Argentina. Following arrest warrants issued through Interpol, mother and son duo Brian Gutierrez (27) and Nilda Coque (47) were arrested in Buenos Aires.
iGenius, DreamTrips & Jifu under investigation in Poland
iGenius, DreamTrips and Jifu are under investigation in Poland. The Office of Competition and Consumer Protection (UOKiK), is specifically investigating whether these companies are pyramid schemes.
DOJ claims Infinity2Global’s Richard Maike released?
A reader got in contact earlier today to share an odd email from the DOJ, regarding Infinity2Global founder Richard Maike. As per the email, sent out as part of the DOJ’s Victim Notification System on September 8th; Defendant(s), Richard G. Maike, has been released from federal custody. The appeal in the case of defendant(s), Richard [Continue reading…]
CFTC secures $1.7 billion Mirror Trading International judgment
The CFTC has secured a $1.7 billion consent judgment against Mirror Trading International. The judgment follows settlement negotiations with South African liquidators, and a Joint Motion to approve the then proposed consent judgment on September 5th. The court signed off on the judgment on September 6th.
SAEG Receiver seizing Mike Sims’ assets
Following an asset deposition of Mike Sims back in May, the SAEG Receiver has begun seizing assets tied to fraud.
Sebastian Greenwood’s attorneys ask for time served
OneCoin co-founder Sebastian Greenwood is scheduled to be sentenced on September 12th. In the lead up to his sentencing, Greenwood’s lawyer filed a Sentencing Memorandum on August 29th. In the memorandum, Greenwood’s lawyers request Greenwood be sentenced to time served and deported.
