regulation @ BehindMLM

LSSC, or Lightning Scooter Shared Company, has received a securities fraud warning from the British Columbia Securities Commission (BCSC). As per BCSC’s June 23rd LSSC fraud warning;

JetCoin Ponzi admin Dwayne Golden has been sentenced to eight years in prison. Eight years was the maximum range the DOJ sought in pre-sentencing filings. As per a judgment filed on June 27th, Golden was also ordered to pay $2.46 million in forfeiture.

Vincent Anthony Mazzotta Jr. has pled guilty to conspiracy to obstruct justice and money laundering.

Mirror Trading International’s South African liquidators have bungled court proceedings in the UK. As reported by Moneweb on June 18th, MTI’s liquidators filed a “UK application” to avoid a statute of limitation in South Africa.

Amid pending settlements and default judgments against those who ran the scam, the CFTC has opted to voluntarily dismiss its Fundsz as a corporate entity.

Collapsed billion dollar MLM pyramid scheme Iyovia is failing to meet its financial obligations. Iyovia customer data is also being deleted and Iyovia co-founders Chris and Isis Terry have gone underground.

Following an interim $1.1 million distribution payment and pending $200,000 final distribution payment, the SAEG Receiver has filed a motion requesting the Receivership be closed.

Malaysian and Chinese police have seized $900 million tied MBI International, a Ponzi scheme run by Tedy Teow Wooi Huat (aka Zhang Yufa).

The SEC is hunting down QZ Asset Management Ponzi scammers in China. After defrauding consumers out of “millions of dollars” , QZ Asset’s Blake Yeung Pu Lei went into hiding. The SEC believes Lei (below) is hiding in China, although its first attempt at finding him came up blank.

Avlitex has received a securities fraud warning from the Ontario Securities Commission (OSC). As per OSC’s May 23rd Avlitex warning;