regulation @ BehindMLM

PetronPay has received a securities fraud warning from Quebec’s Autorite des Marches Financiers (AMF). As per the AMF’s March 14th PetronPay warning; PetronPay [is] not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec. Offering unregistered securities in violation of Quebec financial law constitutes securities fraud.

Apertum has received a securities fraud cease and desist order from Texas. The Texas State Securities Board (TSSB) groups Apertum, the blockchain tied to GSPartners reboot DAO1 and GSPro+, with “illegal and fraudulent securities schemes” run by Apertum associated Respondents.

In his latest bid to keep money he stole through Fundsz, Brian Early filed an “affidavit of truth” on March 3rd. Affidavits of truth are typically associated with sovereign citizens. They play into the fantasy that sovereign citizen nutjobs are above the law. In his affidavit of truth demands, Early claimed the Florida court hearing [Continue reading…]

The SAEG Receiver has received permission to make an interim distribution to victims of the Ponzi. The Receiver states however that the distribution payment will be “minimal”.

Skainet Systems has received a pyramid fraud warning from the Central Bank of Russia (CBR). As per the CBR’s March 14th warning, Skainet Systems exhibits “signs of a financial pyramid”. Skainet Systems is an MLM trading ruse Ponzi run by German national Michael Baur (aka Micha Baur).

Jason Cardiff’s failure to the return the US has resulted in forfeiture of his bail. Following his arrest in November 2023, Cardiff was granted release on a $530,000 bond. Cardiff’s bail was secured by $500,000 through a property owned by Lilia Murphy; and $30,000 in cash paid by Brian Kennedy. Both Murphy and Kennedy submitted [Continue reading…]

One thousand five hundred and one GSPartners victim claims have been filed as of March 13th. Of the claims filed, Secretary of State Brad Raffensperger asserts one hundred twenty one are from Georgia investors.

Pursuant to a granted seizure warrant on January 31st, 2025, the DOJ has moved to seize 119.65 bitcoin from Juan Carlos Reynoso. Reynoso is a serial promoter of MLM Ponzi schemes but, as of yet, details surrounding the case tied to the seizure are unclear. Here’s what we do know:

Texas has pulled out of the GSB settlement, citing multiple alleged violations of the reached agreement by GSB and owner Josip Heit. I won’t absolve Mr. Heit of his latest frauds. The term sheet has been myriad violated by your clients, those that still exist. Let’s litigate and see if you can look in a [Continue reading…]

Twenty-eight QNet scammers have been arrested in Nigeria. Citing QNet as a Ponzi scheme, Nigeria’s Economic and Financial Crimes Commission (EFCC), arrested the suspects on or around March 10th.