regulation @ BehindMLM

Freebay added to New Zealand’s Karatbars fraud warning

Freebay has been added to New Zealand’s Financial Markets Authority’s Karatbars International securities fraud warning.

US BitConnect promoters sued by SEC

Top US promoters of the BitConnect Ponzi scheme have been sued in a securities fraud lawsuit filed by the SEC. Defendants on the chopping block are Trevon Brown (aka Trevon James), Craig Grant, Joshua Jeppesen, Ryan Maasen, Michael Noble (aka “Michael Crypto”). Jeppesen’s fiancee, Laura Mascola, is the sole named relief defendant. As described by [Continue reading…]

Sebastian Greenwood rejects plea deal, tons of new evidence

Two interesting updates have come from a May 27th Status Conference in Sebastian Greenwood’s criminal case. The first update is that efforts to negotiate a pre-trial disposition of the case have thus far been unsuccessful. As explained by prosecuting DOJ attorney Nicholas Folly;

Digital Income Systems fraud settlements top $3.5 mill dollars

Earlier this month we reported on the FTC reaching settlements with several Digital Income Systems defendants. On May 26th the FTC filed notices of settlement approval for defendants Jennifer Hedrick (aka Jennifer Maurer), Derek Jones Foley and William Foley, Christopher Brandon Frye and Kaitlyn Scott.

FTC files for new Success by Health preliminary injunction

In our last Success by Health update we noted the court had given Success by Health until May 21st to ‘file a motion to dissolve or modify the Preliminary Injunction and receivership’. To that end Success by Health filed a memorandum detailing what they believed the recent AMG decision had on the FTC’s case. Three days [Continue reading…]

Global Trading Club scammers on track to settle with CFTC

The Global Trade Club defendants are heading towards settlement agreements with the CFTC.

VPL Receivership to disband, Cardiffs & FTC share costs

As part of the fallout of the AMG decision wreaking havoc on FTC regulatory cases, the VPL Receivership is schedule to be discharged. The VPL Receivership was established as part of the FTC’s ongoing Redwood Scientific Technologies fraud case.

QubitLife banned in Italy, CMO Marc Swickle does a runner

QubitLife has been officially banned by Italian regulators. The move by CONSOB, Italy’s top financial regulator, came a week before QubitLife informed 250,000+ victims it was disabling withdrawals.

Navan Global founder Trey Knight indicted for wire fraud

Haskell Knight, better known in the MLM industry as Trey Knight, has been indicted on three felony counts of wire fraud.

$36.3 million in Traffic Monsoon victim claims approved

A May 10th Receivership Status Report reveals that 12,500 Traffic Monsoon victims have had their claims approved. The total dollar amount of approved claims so far comes to $33,383,808.