MLM @ BehindMLM

Following being found guilty of every count on his Infinity2Global fraud indictment, Richard Maike requested he be released pending sentencing. The court denied the request, ordering Maike remanded to custody. On September 9th Maike filed a motion for reconsideration, asking the court to reverse its earlier decision.

The DOJ has made reference to restitution for investors of the EmpiresX Ponzi scheme. While it’s not much, I believe it’s the first we’ve seen restitution mentioned in EmpiresX fraud proceedings.

GIG-OS and marketing arm Global Success Management have been banned in Italy. As per a September 6th announcement, CONSOB advises GIG-OS and GSM have violated Italy’s financial laws.

Joshua David Nicholas has plead guilty to one count of conspiracy to commit securities fraud. Nicholas played “Master Trader” in EmpiresX, through the misappropriated alias “Joshua Gregg”.

A jury has found Richard Maike and his fellow Infinity2Global scammers guilty on all charges. The September 7th verdict follows a mammoth criminal trial that began on July 12th.

Details of Jonathan Sifuentes Saucedo’s My Trader Coin securities fraud settlement have been made public. As per an August 18th filing, Sifuentes admitted to securities fraud and will pay $85,000 in penalties.

The SEC has moved to serve three of Forsage’s four founders via alternative service. Vladimir “Lado” Okhotnikov, Lola Ferrari, Sergey Maslakov all reside overseas.

Cheri Beth Bowen has settled a securities fraud lawsuit brought against her by the SEC. As alleged by the SEC, Bowen stole “at least” $303,000 through the Forsage Ponzi scheme.

TelexFree victims participating in the Trusteeship claims process are being targeted by scammers. On September 6th the US Bankruptcy Court for Massachusetts published the following order:

After signalling its intent to serve Johannes Steynberg through the Hague Convention last month, the CFTC has now asked for permission to effect alternate service. If granted, the CFTC will serve Steynberg via a Texas newspaper and the Supreme Court of Texas’ website.