Terrence Pounds has been sentenced to 94 months in prison for COVID-19 loan fraud.

Pounds, who orchestrated the multi-million dollar fraud scheme, will also have to pay back $4.2 million in restitution. [Continue reading…]

Brazil’s Supreme Court has approved the extradition of BitRobot admin  Laurent Myriam Claude Barthelemy.

Barthelemy was arrested in Brazil on an international arrest warrant request by Belgium in April 2023. [Continue reading…]

Andrew Eaton has claimed GSPartners is on the verge of negotiating settlements with US regulators.

Eaton, a top earner in the fraudulent investment scheme, leads a group of South African promoters under “GIHugeness” branding.
[Continue reading…]

Irina Dilkinska, OneCoin’s former Head of Legal and Compliance, has been sentenced to four years in prison. [Continue reading…]

Jury selection for the SEC’s MyNyloxin trial was supposed to kick off on March 25th.

Instead on March 7th, a Joint Motion was filed requesting the pending trial. The basis for the request was a reached settlement.

On March 8th the Joint Motion was granted, requesting the parties file a Status Report or Stipulation of Dismissal by April 1st.

On March 14th, the SEC filed a Motion for Judgment. On March 19th, Partial Consent Judgments were entered against all three MyNyloxin defendants. [Continue reading…]

The FDA has issued a second consumer warning pertaining to undeclared ingredients in Govvi’s WOW! supplement.

Testing of an additional sample of WOW! revealed undeclared DMHA. The sample also contained DMAA, which the FDA issued a warning about last December. [Continue reading…]

YEM Foundation is under investigation by Germany’s BaFin regulator.

As part of BaFin’s ongoing regulation, a YEM Foundation securities fraud warning was issued on March 22nd, 2024. [Continue reading…]

Unexa fails to provide verifiable ownership or executive information on its website.

Supposedly Unexa is run out of Melbourne, Australia by founder and CEO Viktor Eskola.

Eskola doesn’t exist outside of Unexa’s marketing. This is because he’s played by Ukrainian national Alexander Pelekh/Peleh (aka Oleksandr Pelekh, Александр Пелех).

As per Pelekh’s corporate bio above, he claims “almost 20 years experience working at SES”.

SES is a satellite communications company based out of Luxembourg. Pelekh purportedly worked at SES’ Kiev office in Ukraine.

At one point Pelekh was also promoting the MLM company DuoLife:

Pelekh’s distributor profile photo is still available on DuoLife’s website. Note the link won’t work but if you copy and paste the URL into a new browser window it’ll come up.

As for Melbourne, Unexa offers up meaningless shell company certificates for Unexa Pty Ltd.

ASIC are known for non-regulation of MLM fraud. Furthermore anyone can register a company with ASIC using whatever bogus details, there is no verification.

For this reason ASIC registration is favored by scammers residing outside of Australia.

With respect to MLM due-diligence, ASIC registration certificate as proof of legitimacy is therefore meaningless.

Unexa also offers up a purported Melbourne, Australia office marketing video:

It’s the usual affair with rented office space, a stale working environment, corny flags and actors playing office staff. Various shots in the video reveal the space was provided by Agility.

On its website Agility claims to provide access to “3,200 Global office space locations”.

Boris CEO MLM schemes are typically the work of Russian scammers. Given Alexander Pelekh’s ties to Ukraine, we also can’t rule out Ukrainian scammers.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Indian authorities have seized ₹4.3 billion in cryptocurrency, gold and cash ($51.9 million USD).

As reported by The Hindu on April 1st, the assets are tied to BitConnect’s “Divyesh Darji and others”. [Continue reading…]

FutureNet 2024 fails to provide ownership or executive information on its website.

FutureNet 2024’s website domain (“futurenet9.com”), was privately registered on December 16th, 2023.

Despite the 2023 registration date, the first video uploaded to FutureNet 2024’s official YouTube channel was on January 14th, 2024. The first post on FutureNet 2024’s Telegram group was posted on January 18th.

Because of this, we’re denoting FutureNet as “FutureNet 2024” in this review. This is to avoid confusion with the original FutureNet Ponzi scheme, launched in 2014.

As far as I can tell there’s no relation between the two schemes.

As of February 2024, SimilarWeb ranked top sources of traffic to FutureNet 2024’s website as India (24%), Vietnam (20%) and the US (19%).

Over on social media we find dodgy FutureNet 2024 AI avatar marketing videos all using the same template, as well as a recent post celebrating an Indian national holiday.

It’s likely whoever is running FutureNet 2024 has ties to India.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]