Of the 300,000 investor accounts Mirror Trading International boasted, around 90% were just email addresses.

That is to say, Mirror Trading International only had around 30,000 actual investors. [Continue reading…]

In a surprising development, Luxembourg’s government has confirmed it will not contest Frank Schneider’s extradition. [Continue reading…]

John Dalli is a former EU Commissioner for health. He’s also Malta’s former Minister of Finance and Economy.

In what isn’t much of a surprise, Dalli is one of the faces promoting the QuickX Ponzi scheme. [Continue reading…]

Following guilty pleas by two of the fourteen OneCoin defendants in Argentina, the pair have been sentenced to prison.

Adolfo Domínguez and Aldo Leguizamón will serve three years and six months and four years and three months respectively. [Continue reading…]

The Peace Ranch “click a button” Ponzi has collapsed.

The collapse coincides with Peace Ranch’s website being pulled a few hours ago. [Continue reading…]

In 2021 CashFX Group solicited $432 million from gullible investors, just shy of half a billion.

In 2022 that amount has dropped to $112 million.

On a macro level that might sound salvageable… until you consider that for October 2022, CashFX Group took in less than a million dollars. [Continue reading…]

Leonardo Cositorto, founder of the collapsed Generation Zoe Ponzi scheme, is currently being held in an Argentinian prison on fraud charges.

Doubling down on fraud, Cositorto has now launched All Us Education. [Continue reading…]

Joseph Cammarata has been found guilty in connection to a securities fraud scheme. [Continue reading…]

LSG Financial brands itself as a financial firm.

LSG is an online financial institution. We help you plan your financial goals and recommend smart investment choices, so that you save time and gain peace of mind, knowing that your money is working for you.

The company’s name incorporates “Liam, Sachwell & Galahad”. Typically surnames, no evidence is provided to confirm these are actual people.

In fact LSG Financial provides no information about company ownership or its executives.

LSG Financial’s website domain (“lsgfinancial.com”), was privately registered on June 7th, 2021.

SimilarWeb’s tracking reveals traffic to LSG Financial’s website was dead until late August 2022. Top sources of LSG Financial website traffic are Belgium (51%) and the Netherlands (49%).

This even split strongly suggests whoever is running LSG Financial is based out of Europe.

No idea if it’s official or not but a private FaceBook group named “LSG Financial” was created on August 10th, 2022. This coincides with traffic to LSG Financial’s website increasing.

The two admins of the LSG Financial FaceBook group are Dinesh Francis and Freek Otf Andringa.

Francis appears to be promoting multiple Ponzi schemes:

Andringa represents he is based out of the Netherlands.

Contrary to Andringa’s claims above, LSG Financial didn’t exist till 2021.

Prior to LSG Financial, Andringa promoted the EvoRich Ponzi scheme.

Following the arrest of owner Andrey Khovratov, EvoRich collapsed earlier this year.

Another possibility is LSG Financial is run by Russians. This is based on the inclusion of Yandex Translate on LSG Financial’s website.

Yandex is a Russian search engine that typically nobody outside of Russia uses.

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…]

Trade Coin Club’s owner, Director and two US-based promoters have been sued by the SEC.

Defendants Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor and Jonathan Tetreault, are alleged to have stolen almost $300 million from consumers. [Continue reading…]