US authorities have taken down the “Mike G Deal”. The DOJ and SEC allege $45 million in fraud, and ringleader Neil Suresh Chandran has been arrested. On January 4th, the SEC filed a Complaint naming Chandran, Garry Davidson, Michael Glaspie, Linda Knott, Amy Mossel (Glaspie’s wife), Banner Co-Op Inc., BannersGo LLC and AEO Publishing Inc. [Continue reading…]
Dagcoin scammers Nils Grossberg and Kristijan Ress have reportedly been released by Estonian authorities. The pair, who ran the Dagcoin Ponzi scheme from Estonia, were arrested with two accomplices last October.
Ariix has been fined €960,000 EUR for consumer fraud by Italy’s Competition Authority (AGCM).
A 58 year old man and his 81 year old father have been convicted on Ponzi fraud charges. Authorities in Austria began investigating the duo following an anonymous complaint filed in November 2019. Investigators uncovered 13 million euros in damages, tied to promotion of Minerva Trading Bot.
Daniel Putnam has settled a $12 million fraud case filed against him by the SEC. On January 3rd, the SEC filed a Motion for Entry of Judgment against Putnam. Putnam consented to the requested judgment on December 30th.
Krstic Ponzi empire defendant Jaira David has been sentenced to three years in prison. Upon release David will be subject to two years of supervised release. He’s also been ordered to pay $380,000 in restitution.
Ronald R. Deering has settled Forsage fraud allegations brought against him. Deering was the last of seven Forsage Ponzi promoters sued by the SEC back in August.
The SEC has secured judgment against Nasgo Ponzi defendant Maurice “Butch” Chelliah.
NovaTech FX has received a securities fraud notice from Saskatchewan’s Financial and Consumer Affairs Authority.
Daniel Pacheco and his fellow iPro Network defendants have settled the SEC’s fraud case against them.
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