Spanish authorities have arrested Vitor Fajardo Fajardo has been dubbed “one of the biggest cryptocurrency scammers in Europe”.
regulation @ BehindMLM
In 2011, back when South Africa actually regulated MLM fraud, the Reserve Bank declared TVI Express was a pyramid scheme. TVI Express promoters responded by declaring anyone against the company was ‘against black people becoming wealthy‘. TVI Express collapsed nationally a year later in 2012. Authorities pegged South African losses at around $254 million. Investigations [Continue reading…]
Crowd1 has received a securities fraud warning from the Central Bank of Russia.
A group of Crowd1 promoters in Azerbaijan have been arrested. Following their arrest, the scammers admitted Crowd1 was a fraudulent pyramid scheme.
Xifra Lifestyle founder Jonathan Yemelian Sifuentes was arrested earlier this week by Mexican authorities. Quoting local media, CVBJ reports Sifuentes was arrested in the company of about nine bodyguards, with long weapons and hundreds of thousands of Mexican pesos in cash. Uh yeah, MLM is a bit different in Mexico.
A UK bank has frozen a Hyperverse promoter’s account on suspicion of fraud.
The SEC has revealed it bungled service on BitConnect defendant Craig Grant.
An SEC filing has revealed BitConnect founder Satish Kumbhani has fled India.
Glenn Arcaro and his company Future Money have settled BitConnect fraud charges with the SEC.
Following Mirror Trading International’s collapse in late 2020, CEO Johann Steynberg fled South Africa for Brazil. Authorities eventually caught up with Steynberg and arrested him late last month. Steynberg managed to evade authorities on account of him having at least three fake IDs. We now also now Steynberg spent 2021 living on stolen bitcoin and [Continue reading…]