regulation @ BehindMLM

Indian authorities have made five arrests in connection to the Torres MLM Ponzi scheme. Torres was a jewelry themed MLM crypto Ponzi targeting Indians. The scam appears to have collapsed in the lead up to Christmas 2024. Torres’ Ponzi ruse was sham jewelry stores set up in India tied to Ukrainian scammers.

Following negotiation with the DOJ, iComTech founder David Carmona has been ordered to pay $789,218 in restitution. A separate order has also set iComTech forfeiture at $3.7 million.

DAO1 has received a securities fraud warning from New Zealand’s Financial Markets Authority (FMA).

South African authorities have recovered R475,000 from Chinese “click a button” app Ponzi scammers (~$25,640 USD).

Jason Cardiff has disobeyed court orders instructing him to return to the US by January 19th. In the lead up to Cardiff’s potential fugitive status, the DOJ executed a previously filed extradition warrant.

Myanmar claims it has deported over 50,000 Chinese scammers tied to scam factories since October 2023. As reported by the South China Morning Post in a January 21st paywalled article;

The Traders Domain defendants Holton Buggs and Robert Collazo have consented to preliminary injunctions.

A new notice posted on GSB’s GSPro and Lydian World websites went live on January 21st. As per the notice, the GSB victim claims process will begin on February 21st. The claims process, through which GSPartners victims will be able to claim funds lost to any GSB investment scheme, will run until May 22nd. This [Continue reading…]

The Central Bank of Sri Lanka has expanded its national list of prohibited pyramid. The updated January 20th, 2025 list now includes Qnet, MTFE and Ledger Block and Ride to Three Freedom.

Navan Global founder Trey Knight, aka Haskell Knight, and wife Emily Knight, aka Emily Deborah Fryer, are set to plead guilty to bankruptcy fraud.