regulation @ BehindMLM

Earlier this month Frank Calabro Jr. posted a series of rants against the North Carolina Securities Division. In one provided court transcript, it is revealed Calabro Jr. stole at least $2.2 million from USI-Tech Ponzi victims.

Over the weekend OneCoin’s Konstantin Ignatov was released from prison. Conversely but for an unrelated reason, Mark Scott returned to prison. I was hoping we’d get a case docket update today but doesn’t look like that’s going to happen.

Mark Scott’s trial saw FBI Special Agent Shimko take to the stand. As revealed in Special Agent Shimko’s cross-examination, the first known OneCoin arrest by US authorities was mid September 2017.

On paper OneCoin never officially operated in the US. Unofficially US investors were being fed the same lies and encouraged to sign up. Spearheading these efforts were Maurice Katz and Sal Leto. Katz and Leto hosted various OneCoin events across the US, with the assistance of local promoters. One such event was attended by William [Continue reading…]

Matthew Lloyd McPhee has been handed down a $318 million dollar final judgment.

If you ever wondered what day to day life was like in a $4 billion dollar Ponzi scheme, Konstantin Ignatov’s witness testimony is probably your best bet. BehindMLM reader WhistleBlowerFin has graciously made available transcripts from Scott’s trial late last year. In addition to his pre-trial testimony and live reporting from the Inner City Press, [Continue reading…]

The Digital Altitude Receiver has opted not to pursue recovery efforts against Paradise Media Ventures and owner John Souza. In light of that being the last outstanding action for the Receivership, the Receiver has filed for discharge.

A March 12th status conference in the Payza case has been rescheduled for April.

Convicted OneCoin money launderer Mark Scott is facing disbarment. According to a report from the Miami Herald, Scott has been suspended from practicing law as of last Wednesday.

A decision on whether Jason and Eunjung Cardiff are in contempt remains pending, but in the meantime several other motion decisions have gone against them.