regulation @ BehindMLM

FTC returns $470,000 to Bitcoin Funding Team victims

The good news is the FTC will return almost half a million dollars to victims of the Bitcoin Funding Team gifting scheme. The bad news is this equates to around $59 per victim.

OneCoin’s Mark Scott disbarred in New York

OneCoin money laundering attorney Mark Stanley Scott has been disbarred in New York. The decision was made in an opinion published by the New York State Law Reporting Bureau on October 29th.

Mining City a Ponzi scheme, confirms Phillipine SEC

Following publication of our “Mining City lying about Philippine SEC registration” article earlier this week, I’ve had Mining City corporate emailing me to insist the SEC’s own information is wrong. That discussion has now come to a head, following confirmation from the SEC that Mining City is a Ponzi scheme.

MTI to restrict withdrawals with KYC in November

Following on from the FSCA conducting raids on Mirror Trading International’s offices and residences of its executives, CEO Johann Steynberg has fronted affiliates desperate for answers. Unfortunately all they got was bad news. Starting next month, MTI is planning to restrict withdrawals by implementing KYC.

Success By Health prelim injunction upheld (FTC not racist)

Jay Noland’s attempt to have the Success By Health preliminary injunction overturned has been denied. In favor of dissolving the injunction, Noland had argued that a yet to be heard Supreme Court case meant previous Ninth Circuit rulings could no longer be considered “good law”.

Mirror Trading International offices raided by SA authorities

Mirror Trading International’s offices in South Africa have been raided by the Financial Sector Conduct Authority. Additionally the residences of Clynton and Cheri Marks have also been raided.

Mining City lying about Philippine SEC registration?

In a recent Mining City webinar, CEO Gregory Rogowski claimed the company had obtained an license with the Philippine SEC. As per correspondence received by the SEC after the webinar aired, the Philippine SEC have confirmed Mining City remains unregistered. Not only that, the regulator appears to be building a case against local promoters.

Liyeplimal securities fraud warning issued by COSUMAF

The Commission de Surveillance du Marche Financier de L’Afrique Centrale, better known as COSUMAF, has issued a securities fraud warning against Liyeplimal.

ArbiStar’s Santi Fuentes arrested in Spain

Serial Ponzi scammer Santiago Fuentes has been arrested in Spain. Spanish authorities have charged Fuentes with “belonging to a criminal organization” and money laundering.

Cardiffs continue to conceal assets, alleges FTC

The FTC has opposed the Cardiffs’ latest attempt to access frozen funds, alleging the couple are still actively concealing assets in contempt of court.