regulation @ BehindMLM

OneCoin’s Ruja Ignatova added to Interpol’s red notice list

OneCoin founder Ruja Ignatova has been added to Interpol’s red notice wanted list. Ignatova is wanted by Germany, who seek to hold her responsible for “jointly committed especially serious case of fraud (and) money laundering”.

Paparazzi under investigation for alleged labor violations in Utah

Melissa Sorenson is a former Paparazzi employee. Sorenson was terminated in January 2022. The circumstances of the termination have not been disclosed by herself or Paparazzi. What we do know, courtesy of a chatlog exhibit, is Sorenson feels she was “wrongfully terminated”. To that end she’s filed multiple complaints with state and federal labor regulators.

Crowd1 permanent fraud ban reaffirmed in Philippines

The Philippine SEC has issued a press-release reminding consumers that the Crowd1 Ponzi scheme remains banned across the country.

FTC returns over $149 million to Advocare victims

The FTC has announced over $149 million has been distributed to victims of the Advocare pyramid scheme. The FTC’s announcement was made on May 5th. It follows Advocare settling fraud allegations with the FTC for $150 million in 2019.

Mining Capital Coin prelim injunction hearing scheduled

The SEC is set to face off against the Mining Capital Coin defendants on May 19th. At stake are the millions in ill-gotten gains Capuci allegedly stole through his Mining Capital Coin Ponzi scheme.

SEC sues Mining Capital Coin’s Jr. Caputti & Emerson Pires

Mining Capital Coin co-founders Luiz Carlos Capuci and Emerson Sousa Pires have been sued by the SEC. The SEC alleges Capuci and Pires offered an “irresistible investment opportunity”, but in reality ran a Ponzi scheme.

Mining Capital Coin’s Jr. Caputti indicted on fraud charges

Mining Capital Coin co-founder and CEO Luiz Carlos Capuci Jr., has been indicted on wire and securities fraud charges.

FTC seeks comment on Deceptive or Unfair Earnings Claims

A typical component of an FTC lawsuit against an MLM company is deceptive or unfair earnings claims. Last year the Supreme Court, in a decision that sided with payday loan scammers, limited the FTC’s ability to regulate MLM fraud. Specifically, the FTC was barred from seeking “equitable monetary relief under section 13(b) of the FTC [Continue reading…]

Mindset 24 settlements brewing, defense attorney wants out

A Telephonic Status Conference held on April 15th has edged Mindset 24 defendants towards an SEC settlement. As per the order, individual ex parte phone conferences with the court are to be scheduled. The April 15th order states this is ‘in order for the Court to determine if further ADR is appropriate‘. “ADR” being Alternative [Continue reading…]

OmegaPro securities fraud warning from Nicaragua

OmegaPro has received a securities fraud warning from Nicaragua’s Superintendencia de Bancos y de Otras Instituciones Financieras (SIBOIF).