regulation @ BehindMLM

The FTC has moved for summary judgment against all counts filed against Jason and Eunjung Cardiff. Default judgment has also been sought against their company Redwood Scientific Technologies.

A criminal court in Antwerp has convicted Asker Sakinmaz, Cengiz Ehliz and Erwin Fally. The pair were behind the Flexkom pyramid scheme, which collapsed in 2017.

Like most of you we weren’t really sure why a January 13th, 2021 date for distribution payments was set. Turns out that was more of a deadline, following reports from multiple TelexFree victims of received payments.

A year on from its collapse, Chinese authorities have arrested 109 scammers tied to the Plus Token Ponzi scheme.

A tentative ruling has signaled it is unlikely Jay Noland will gain access to ~$450,000 tied up in Enhanced Capital Funding. Enhanced Capital Funding (ECF) appears to be a shell company partially owned by Noland. The FTC asserts Noland owns 80% of ECF, with the remaining 20% owned by his wife Lina.

Evidently QNet International’s pyramid scheme isn’t doing to well, prompting the company to use human trafficking as a recruitment tool. No, that’s not a play on words. Authorities in Liberia have made arrests, smashing QNet International’s human trafficking ring.

Gilbert Armenta, a resident of Florida, was a key figure in OneCoin’s money laundering operations. He has also been romantically linked to OneCoin’s founder, Ruja Ignatova. On September 12th, 2017, Armenta was indicted by a Grand Jury on three counts of extortion; conspiracy to commit extortion, attempted extortion and travel act extortion. Armenta was arrested [Continue reading…]

Mind Capital and Exchange Wallet, both MLM Ponzi schemes, have been declared illegal in Italy. CONSOB, Italy’s top financial regulator, has ordered both company’s websites blocked.

Even before their July 24th contempt hearing, the Cardiffs continued to serve up fresh delicious popcorn. On the eve of their contempt hearing, Defendants Jason and Eunjung Cardiff filed nearly 1000 pages of unsolicited, unexplained exhibits, without leave of court. What is more, they failed to comply with sealing procedures under the Local Rules for [Continue reading…]

Payza co-founders Firoz and Ferhan Patel have pled guilty to money laundering fraud charges. The pair were indicted back in March 2018, with the guilty plea bringing criminal proceedings against them to a close.