The FTC initially estimated MOBE scammed people out of at least $125 million. Based on ongoing forensic accounting efforts by the Receiver, that figure has now jumped to $318.5 million.
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Pedro Fort has been issued a $14.9 million judgment in the SEC’s Fort Ad Pays Ponzi case against him. The March 19th judgment follows the SEC moving for $38.6 million in relief against the Fort Ad Pays defendants a few weeks back.
The FTC’s ongoing lawsuit against Redwood Technologies and owners Jason and Eunjung Cardiff, is evidently making life very difficult for the defendants. Facing eviction from the family home, a Judge has also now denied a request for the return of the Cardiff’s passports – without which Jason claims he’ll lose his new job.
On March 15th the Zeek Receiver filed his Status Report for the fourth quarter of 2018. Among other things, the Receiver revealed 44.2% of net-winner payments have been successfully clawed back.
Just before the FTC moved to shut it down, Digital Altitude transferred over half a million dollars to Paradise Media Ventures. There doesn’t appear to have been any legitimate reason for the transfer, and so now the Receiver is demanding the funds back.
The DOJ has secured the detention of Konstantin Ignatov, pending his facing charges in New York.
Authorities in Hyderabad, India, have shutdown the long-running eBiz pyramid scheme. Two eBiz representatives have been arrested; Hitak Malhan, son of eBiz Managing Director Pavan Malhan; and eBiz Director Anitha Malhan, wife of Hitak Malhan.
The specifics of Ruja Ignatova’s OneCoin exit-scam are coming together. The latest piece of the puzzle is the revelation that Ignatova was initially indicted back October 2017 – around the same time she “went on maternity leave”.
The case against the first of OneCoin insider to fall, Mark Scott, is slowly progressing towards trial. At present there’s a bit of a standoff regarding an agreed trial date. The DOJ want a trial on or around September 2019. Mark Scott’s attorneys want July.
Michael Force’s settlement with the FTC has been approved. As per the settlement, the FTC has received a $54 million dollar monetary judgment against Force. An injunction has also been granted, prohibiting Force from committing further violations of the FTC Act.