MTI’s top net-winners summoned to pay back ~$242 million
Liquidators in South Africa have issued a summons against eighteen of Mirror Trading International’s top net-winners.
Together, the scammers are being held liable for R4.66 billion (~$244 million USD). [Continue reading…]
Beachbody class-action asserts Bodi Coaches are employees
A May 22nd filed class-action lawsuit alleges Beachbody has
exploited its California salesforce by misclassifying them as independent contractors rather than as employees.
Through her one hundred and thirty-seven page filed suit, Plaintiff Jessica Lyons seeks to hold Beachbody accountable under California law. [Continue reading…]
FTC seeking info from IM Mastery Academy’s Matthew Thayer
The FTC website entry for its IM Mastery Academy case has updated.
What we now know is the entry pertains to a petition to quash a civil investigative demand issued by the FTC. [Continue reading…]
NFT Rewards: Zeek Rewards’ Robert Craddock returns
Zeek Rewards’ Robert Craddock has reemerged as the owner, CEO and President of NFT Rewards.
NFT Rewards Team is an MLM crypto Ponzi combined with selling of virtual shares. Before we dive deeper into that though, it’s important to recap on who Robert Craddock is. [Continue reading…]
FTC investigating IM Mastery Academy for consumer protection
The FTC appears to have prematurely revealed it has launched a consumer protection enforcement action against IM Mastery Academy. [Continue reading…]
EminiFX Receiver recovers $173 mill out of $260 mill invested
The EminiFX Receiver has filed a report pertaining to the “financial condition” of the EminiFX Receivership.
The good news for victims of the Ponzi scheme is “the bulk of the EminiFX assets” have been recovered. [Continue reading…]
Mainet blacklisted in France for fraud, withdrawals disabled
France’s Autorite des Marches Financiers has added Mainet to its blacklist for securities fraud.
The AMF has added two Mainet related website domains to its blacklist: [Continue reading…]
Success by Health ruled a pyramid scheme, FTC wins case
An Arizona court has ruled Success by Health was a pyramid scheme.
Having now considered the disputed evidence in its capacity as finder of fact, the Court concludes that the FTC should also prevail on its pyramid scheme claim as to SBH.
The decision marks the first significant MLM related win for the FTC since the Supreme Court’s AMG ruling in 2021. [Continue reading…]
Bryan Lee charged & arrested for Mike G Deal investment fraud
A third individual has been charged in connection to the “Mike G Deal” investment scheme.
Bryan Lee was indicted under seal on May 15th. Sometime between May 16th and May 19th Lee was arrested, leading to the unsealing of the indictment on May 18th. [Continue reading…]
Rain and Christina Rahm Cook settle “credentials” lawsuit
Rain International and Christina Rahm Cook have settled a lawsuit pertaining to Cook’s claimed credentials.
As part of the settlement, Cook’s counterclaims against Rain have also been settled. [Continue reading…]
