Trust Your Universe securities fraud warning from Germany
Trust Your Universe has received a securities fraud warning from Germany’s Federal Financial Supervisory Authority (BaFin). [Continue reading…]
Trust Your Universe securities fraud warning from Austria
Trust Your Universe has received a securities fraud warning from Austria’s Financial Market Authority. [Continue reading…]
InCruises Review v4: Membership 2.0?
Within a few days of BehindMLM publishing its last inCruises review, a reader advised the company was gearing up to launch “Membership 2.0” and “Partnership 2.0”.
April 1, 2022 Incruises implemented ‘Membership 2.0″ and your article barely touches on the membership part of Incruises.
The Incruises Partnership is the main focus of your article, but Incruises “Partnership 2.0” is going into effect on September 1, 2022 which will make most of your review inaccurate.
This was odd as I hadn’t come across any mention of these two marketing terms in putting together the August 2022 review.
In any event, I flagged inCruises for a review update. Today we take a look at inCruises’ Membership and Partnership 2.0. [Continue reading…]
InCruises pyramid scheme warning from Poland
InCruises has received a pyramid scheme fraud warning from Poland’s Office of Competition and Consumer Protection (UOKIK). [Continue reading…]
FTC adds Michael Toloff’s wife Gayle to FES fraud case
Gayle Toloff has been added as a relief defendant in the FTC’s ongoing Financial Education Services fraud case.
Gayle Toloff is the wife of FES co-founder Mike Toloff. [Continue reading…]
NovaTech FX desperate for new victims, 50% recruitment bonus
Back in February NovaTech informed investors it was “temporarily freezing” withdrawals for 60 days.
Last week Cynthia Petion confirmed withdrawals would remain frozen past the April 1st deadline.
What NovaTech FX investors did get on April 1st, was news of further restrictions. [Continue reading…]
DOJ stays SEC’s Forsage securities fraud civil case
The DOJ has stayed SEC civil proceedings against Forsage executives and promoters. [Continue reading…]
Default judgment granted against Forsage’s Mikhail Sergeev
Default judgment has been granted against Forsage executive Mikhail Sergeev.
The SEC alleges Forsage is a $300+ million Ponzi scheme. Sergeev, a Russian national, worked as Forsage’s Development Director. [Continue reading…]
Mike Sims consents to Yas Castellum Ponzi injunction
Michael Shannon Sims, known in the MLM industry as Mike Sims, has consented to a preliminary injunction.
The injunction pertains to commodities fraud charges brought by the CFTC.
The CFTC’s January 2023 filed charges are in relation to a series of Ponzi schemes run by Sims (below), Todd Brisco (Sims’ brother in law), Tin Tran, Francisco Story and Frederick Safranko (aka Ted Safranko).
Through their interconnected Yas Castellum Ponzi schemes, Sims and his co-defendants allegedly defrauded consumers out of at least ~$145 million. [Continue reading…]
$16 million tied to QNet frozen in India per new investigation
Indian authorities have frozen $16 million tied to QNet. The freeze order is part of a new QNet criminal case, initiated in Hyderabad on March 23rd.
The new criminal case follows a fire at a QNet sweatshop in Swapnalok Complex on March 17th, which claimed the lives of five promoters. [Continue reading…]
