regulation @ BehindMLM

BitConnect founder and wanted fugitive Satish Kumbhani has been tracked to Ahmedabad, a city in the Indian state of Gujurat.

BitHarvest has received a pyramid fraud warning from the Central Bank of Russia (CBR). As per the CBR’s February 14th warning, BitHarvest exhibits “signs of a financial pyramid”.

The Traders Domain civil fraud trial has been scheduled for June 15th, 2026. Other recent updates in the CFTC’s The Traders Domain case include:

DAO1 has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC).

Convicted iComTech Ponzi scammer David Brend has been sentenced to $195,305 in forfeiture.

Trevon James Brown’s BitConnect settlement conference has been delayed till April 2025.

Holton Buggs has been sanctioned for failing to cooperate with the Traders Domain Receiver. As detailed by the Receiver in his February 5th Second Report;

Manifest has received a securities fraud warning from the UK’s Financial Conduct Authority (FCA). Citing Manifest by its parent UK shell company Manifest Ventures Ltd., the FCA’s January 29th warning states;

Payza’s Firoz Patel has been sentenced to 41 months in prison for obstruction (~3 years and 5 months).

Jason Cardiff has been declared a fugitive on the run from US authorities. The court’s declaration follows a February 4th ex-parte motion from the DOJ, seeking fugitive status and an arrest warrant. In its February 5th order the court advised “an arrest warrant will issue”.