MLM @ BehindMLM

Scammers behind the Trade Coin Club Ponzi scheme are evading service by the SEC. In an April 6th Status Report, the regulator detailed efforts to serve Keleionalani Taylor, Douver Braga and Joff Paradise.

Eyebrows were raised when California issued a Metafi Yielders securities fraud warning, four months after the Ponzi scheme collapsed. Now Canada has done them one better, issuing its own Metafi Yielders securities fraud warning eleven months later.

Chinese USFIA investors have until April 30th to make sure their payment details are correct. Failing which, sometime after May 30th their USFIA victim claims will be rendered invalid.

The SEC’s EmpiresX civil fraud case has been reopened. Last October both the SEC’s and CFTC’s parallel EmpiresX civil proceedings were stayed, pending Hague service on co-founder defendants Emerson Pires and Flavio Goncalves.

Today on April 10th, 2023, BehindMLM turned thirteen. For too many years I’ve been wanting to put out an annual post discussing where the MLM industry is at. I last did this in 2015 but since then one thing or another has come up around this time of year. Typically, if there’s no news to [Continue reading…]

Validus has received a second securities fraud warning from New Zealand. The warning follows the Financial Markets Authority ordering Validus to cease operations nationwide back in February.

Trust Your Universe has received a securities fraud warning from Germany’s Federal Financial Supervisory Authority (BaFin).

Trust Your Universe has received a securities fraud warning from Austria’s Financial Market Authority.

InCruises has received a pyramid scheme fraud warning from Poland’s Office of Competition and Consumer Protection (UOKIK).

Gayle Toloff has been added as a relief defendant in the FTC’s ongoing Financial Education Services fraud case. Gayle Toloff is the wife of FES co-founder Mike Toloff.