regulation @ BehindMLM

Mirror Trading International’s South African liquidators have bungled court proceedings in the UK. As reported by Moneweb on June 18th, MTI’s liquidators filed a “UK application” to avoid a statute of limitation in South Africa.

Amid pending settlements and default judgments against those who ran the scam, the CFTC has opted to voluntarily dismiss its Fundsz as a corporate entity.

Collapsed billion dollar MLM pyramid scheme Iyovia is failing to meet its financial obligations. Iyovia customer data is also being deleted and Iyovia co-founders Chris and Isis Terry have gone underground.

Following an interim $1.1 million distribution payment and pending $200,000 final distribution payment, the SAEG Receiver has filed a motion requesting the Receivership be closed.

Malaysian and Chinese police have seized $900 million tied MBI International, a Ponzi scheme run by Tedy Teow Wooi Huat (aka Zhang Yufa).

The SEC is hunting down QZ Asset Management Ponzi scammers in China. After defrauding consumers out of “millions of dollars” , QZ Asset’s Blake Yeung Pu Lei went into hiding. The SEC believes Lei (below) is hiding in China, although its first attempt at finding him came up blank.

Avlitex has received a securities fraud warning from the Ontario Securities Commission (OSC). As per OSC’s May 23rd Avlitex warning;

Bank of America has reached a settlement with the Profit Connect Receivership for $1.825 million. As per a motion seeking settlement approval filed on June 5th;

Lquid Finance, dba LquidPay, has received a securities fraud warning from the Australian Securities and Investments Commission (ASIC). As per ASIC’s June 6th Lquid Finance and LquidPay warning;

TriumphFX has received a securities fraud warning from Seychelles’ Financial Services Authority (FSA). As per the FSA’s May 20th TriumphFX warning;