regulation @ BehindMLM

A Grand Jury has indicted Profit Connect founder Brent Carson Kovar. Kovar, a Nevada resident, was indicted on February 12th and arrested on February 13th.

Romanian authorities have raided the offices of CryptoData, a crypto development firm co-founded by Ovidiu Toma and Bogdan Mărunțiș. Toma is a serial fraudster tied to multiple MLM crypto Ponzi schemes.

Juan Caminero, aka John Caminero, has settled Profit Connect fraud with the Profit Connect Receiver. As per a January 22nd filed proposed settlement, Caminero will pay back $10,500.

Generation Zoe founder Leonardo Cositorto has been sentenced to 12 years in prison. A Goya court handed down Cositorto’s sentence earlier today, following a guilty verdict last Thursday.

Douver Torres Braga, 48, has been indicted on Trade Coin Club related criminal charges. Braga owned Trade Coin Club but hid ownership by posing as its Master Distributor.

Generation Zoe Ponzi founder Leonardo Cositorto has been found guilty of fraud and criminal association. Cositorto’s verdict was handed down approximately an hour or so ago in a Goya courtroom. Upon hearing the verdict, Cositorto rose to his feet, pointed to the presiding Judge and started shouting.

The GSB settlement claims portal is live. From today, GSPartners victims from thirty-four US states and six Canadian provinces can file a claim.

A proposed EminiFX victim claim distribution plan has been approved. As per an order issued on January 21st, the EminiFX Receiver is authorized distribute recovered assets to victims of the scam.

Indian authorities have seized $19.5 million from QFX Trade scammers. The Times of India reports QFX Trade was a forex ruse Ponzi operating as BotBro, TLC Coin (not related to Total Life Changes) and Yorker FX.

Following an investigation that began in 2016, Norwegian authorities have laid charges against four Crypto 888 Club Ponzi scammers.