regulation @ BehindMLM

Ontario’s Capital Markets Tribunal has handed down a $2.5 million fine to NovaTech FX and Cynthia Petion.

Following the court’s rejection of a time served plea deal, Mohammed “Moe” Diab’s Allied Walled criminal case is headed to trial.

iComTech Ponzi promoter David Brend has been sentenced to ten years in prison. Brend’s sentence was handed down on December 2nd, following a guilty verdict in March 2024.

Leonardo Cositorto, who is currently on trial as founder of the Generation Zoe Ponzi, is proving to be quite the drama queen. Cositorto’s latest stunt sees him reported to have barricaded himself in his cell. With the court waiting on his appearance to continue the trial, the “President of the Court” ordered Cositorto forcibly removed.

The Profit Connect Receiver has received permission to make an interim distribution. On December 19th, 2024, the court approved pro rata distribution of $8 million in recovered funds to Profit Connect victims with a valid claim.

Citing “unexpected events”, Jason Cardiff’s attorneys filed for a trial continuance on December 4th.

Allied Wallet’s Amy Rountree has been sentenced to time served. Rountree’s sentence was handed down on December 13th. She is additionally subject to one year of supervised release.

Serial fraudster Andreas Kartrud has been arrested in Sweden. Kartrud is being held in Malmo, on criminal charges related to 46 million SEK in tax fraud (~$4.1 million USD).

Trage Tech, aka Trage Technologies, has received a securities fraud cease and desist from the Georgia Commissioner of Securities. The Commissioner’s order also cites Eric Ture Muhammad, a serial fraudster and Trage Tech promoter.

8 Figure Dream Lifestyle’s three co-founders have received prison sentences.