GoldenWay Ponzi scheme collapses, withdrawals disabled
The GoldenWay Ponzi scheme has collapsed.
As per a January 6th communication sent out to investors, withdrawals have been “suspended” for four months. [Continue reading…]
Reinhardt reboots PlatinWorld Ponzi with “new” PLCU token
Following the collapse of PlatinWorld in November, owner Alex Reinhardt has rebooted the Ponzi scheme with a “new” PLCU token. [Continue reading…]
Tiber River abandons MLM for online retail only
Canadian MLM company Tiber River has informed distributors it is abandoning its MLM opportunity.
Having built a customer base off the back of its distributors since 2012, Tiber River will transition to an online retail model. [Continue reading…]
SEC & DOJ take down “Mike G Deal”, $45 mill fraud + arrest
US authorities have taken down the “Mike G Deal”.
The DOJ and SEC allege $45 million in fraud, and ringleader Neil Suresh Chandran has been arrested.
On January 4th, the SEC filed a Complaint naming Chandran, Garry Davidson, Michael Glaspie, Linda Knott, Amy Mossel (Glaspie’s wife), Banner Co-Op Inc., BannersGo LLC and AEO Publishing Inc. as defendants. [Continue reading…]
Dagcoin scammers Nils Grossberg & Kristijan Ress released
Dagcoin scammers Nils Grossberg and Kristijan Ress have reportedly been released by Estonian authorities.
The pair, who ran the Dagcoin Ponzi scheme from Estonia, were arrested with two accomplices last October. [Continue reading…]
Ariix fined €960,000 EUR for consumer fraud in Italy
Ariix has been fined €960,000 EUR for consumer fraud by Italy’s Competition Authority (AGCM). [Continue reading…]
Minerva Trading Bot scammers sentenced to prison in Austria
A 58 year old man and his 81 year old father have been convicted on Ponzi fraud charges.
Authorities in Austria began investigating the duo following an anonymous complaint filed in November 2019.
Investigators uncovered 13 million euros in damages, tied to promotion of Minerva Trading Bot. [Continue reading…]
Daniel Putnam settles $12 mill securities fraud case with SEC
Daniel Putnam has settled a $12 million fraud case filed against him by the SEC.
On January 3rd, the SEC filed a Motion for Entry of Judgment against Putnam.
Putnam consented to the requested judgment on December 30th. [Continue reading…]
Awakend sues NewULife & Alexy Goldstein for defamation
Awakend has filed a defamation lawsuit against NewULife and founder Alexy Goldstein.
Surprisingly, Awakend’s complaint details allegations pertaining to BehindMLM’s editorial integrity. [Continue reading…]
Daxio collapses, investor withdrawals “in limbo”
Frode Jorgensen’s Daxio Ponzi scheme has collapsed.
Communications dating back to October 2022 reveal investor withdrawals are “in limbo”. And as of December 12th, Jorgensen is still stalling. [Continue reading…]
