The British Columbia Securities Commission has published reasoning behind its decision to extend a temporary order.

The order, issued on November 16th, 2023, prohibits promotion of GSPartners’ “MetaCertificates” unregistered securities offering.

Specific breaches of British Columbia law cited by the BCSC included:

1. illegal distribution of securities;
2. illegal trading of securities;
3. prohibited representations; and
4. fraud

In addition to GSPartners and parent company GSB Gold Standard Corporation, the order also pertains to promoters Haidy Nitsa Nakos, Tanya Sue Cloete and James Bruce Gardiner. [Continue reading…]

Google has filed a RICO lawsuit against two Chinese scammers it alleges are behind the OTCAI “click a button” app Ponzi.

Named defendants in Google’s filed April 4th Complaint are:

1. Yunfeng Sun (aka Alphonse Sun), an app developer believed to reside in Shenzhen, China
2. Hongnam Cheung (aka Zhang Hongnim, Stanford Fischer), an app developer believed to reside in Hong Kong, China

As alleged by Google, Sun and Cheung [Continue reading…]

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…]