MLM @ BehindMLM

The first of “around 31” Generation Zoe defendants has been sentenced to four years in prison. Gustavo Saavedra, who worked as a lawyer for Generation Zoe, pled guilty to fraud charges last month. Following entry of his guilty plea, Saavedra was subject to an “abbreviated trial” as per Argentinian law.

Rolvi Trading has received a securities and pyramid fraud warning from New Zealand’s Financial Markets Authority.

Richard Maike, Doyce G. Barnes and Faraday Hosseinipour will pay back over $10 million dollars in Infinity2Global restitution. As per a June 6th restitution order;

Profit Connect victims will soon be able to file claims with the court-appointed Receivership. On June 13th, the Profit Connect Receiver’s proposed claims submission process received court approval.

Following his arrest in Spain back in late 2020, Santi Fuentes has been charged in relation to ArbiStar. Spanish prosecutors allege ArbiStar was a $92 million plus Ponzi scheme.

Clayton Thomas has received an $844,706 judgment in his SEC fraud case. Thomas’ June 9th judgment also includes an injunction, permanently prohibiting further violations of the Securities and Exchange Act.

Belgium’s Financial Services and Markets Authority has issued an Intelligence Prime Capital fraud warning. The FSMA cites Intelligence Prime Capital as a “new fraudulent trading platform”. A bit odd considering the Ponzi scheme collapsed in February 2022.

Former Investview CEO Joseph Cammarata has been sentenced to ten years in prison for recovery scamming. Cammarata will also have to pay $31.2 million in restitution.

French authorities have dropped the ball, allowing OneCoin’s Frank Schneider to flee pending extradition to the US.

Four days after Luxembourg’s Commission de Surveillance du Secteur Financier issued a securities fraud warning, IM Mastery Academy held a marketing event in Kirchberg on May 29th. Police raided the event, which targeted “young students”, after receiving complaints from parents. The raids led to the arrest of several organizers of the event. IM Mastery Academy’s [Continue reading…]