regulation @ BehindMLM

Investimento Bitcoin under investigation for fraud in Brazil

The Brazilian SEC has launched an investigation into the Investimento Bitcoin Ponzi scheme.


SEC files for default judgment against remaining DFRF defendants

The SEC has filed for default judgement against DFRF Enterprises defendants Daniel Filho, Wanderley Dalman, Gaspar Jesus, Eduardo Da Silva and Romildo Da Cunha. The SEC’s default motions follow the denial of motions to dismiss by Dalman, Jesus and Da Silva. The trio’s lawyers have also withdrawn from the case, following months of non-communication.


TelexFree Trustee urges victims not to sell claims

The TelexFree Trustee has warned against victims selling approved claims.


Brazilian court orders TelexFree (Ympactus) into bankruptcy

A Brazilian affiliate has secured a bankruptcy judgment against TelexFree. What does that mean? …I’m not sure.


QNet spinoff Serfa Marketing shut down, owner arrested

Authorities in India have shut down Serfa Marketing Private Limited, a QNet spinoff launched by former affiliate Baki Srinivas Reddy.


Details of Matt Lloyd’s MOBE settlement + updates

Following “lengthy negotiations” between Matt Lloyd McPhee and the MOBE Receiver, a settlement was reached a few months back. In a September 6th court filing, the Receiver has now revealed details of the proposed settlement.


Traffic Monsoon Receiver granted flat sale assistance motion

The Traffic Monsoon Receiver’s assistance motion has been granted. The motion, made pursuant to the Hague Convention, seeks information in relation to the sale of a flat in Manchester, UK.


Prosecutors file WorldVentures pyramid scheme charges in Taiwan

Prosecutors in Taiwan have filed criminal charges against WorldVentures’ owners, alleging the company operates as a “classic pyramid scheme”. Prosecutors have filed charges against Kenneth Edward Head (aka Eddie Head) and Jonathon Starks McKillip.


OneCoin “cryptocurrency wizard” arrested in Thailand

Authorities in Thailand have arrested top local OneCoin promoter Mana Chu Mueang. Mana, who refers to himself as a “cryptocurrency wizard”, is believed to have stolen over 500 million baht from OneCoin victims ($16.3 million USD).


Intimidation used in Redwood contempt proceedings

The FTC vs. Redwood case seems to have fallen off my calendar, likely due to me forgetting to pen down an update. In any event I was reminded of the case earlier today by a reader. Looking at the case docket, wooh it’s a bit of a doozy.