NewAge settles Securities and Exchange Act violations with SEC
NewAge has settled violations of the Securities and Exchange Act with the SEC.
As per an October 19th order, NewAge consented to a cease and desist. [Continue reading…]
James Merrill settles TelexFree fraud with Trustee for $3 mill
Following on from a 2017 judgement, James Merrill has now settled with the TelexFree Trustee. [Continue reading…]
FFBM counterclaims dismissed, files for bankruptcy
First Fruits Business Ministry has had all counterclaims filed against Vietal Nutrition dismissed.
The next day FFBM informed the court it had filed for bankruptcy. [Continue reading…]
StableDAO Ponzi launched by Hyperverse scammer Sam Lee
Samuel Lee (aka Xue Lee and Sam Lee), co-founder of the HyperCapital, HyperFund and Hyperverse Ponzi schemes, has launched StableDAO.
BehindMLM was able to confirm Lee’s involvement via his appearance in an October 17th StableDAO webinar. [Continue reading…]
DagCoin scammers Nils Grossberg & Kristjan Ress arrested
Estonian police have arrested four DagCoin executives, including founder Nils Grossberg and CVO Kris Ress (aka Kristjan Ress). [Continue reading…]
SEC sues former NewAge CEO Brent Willis for fraud
The SEC has sued former NewAge CEO Brent Willis for fraud.
According to the regulator, Willis told porky pies which contributed to NewAge’s “growth and success”. [Continue reading…]
Antares Trade & Alcor Trade Ponzis exit-scam, websites gone
Alexey Zhirovkin has complete his Ponzi scheme exit-scam.
Approximately 48 hours ago Zhirovkin took down the Antares Trade and Alcor Trade websites. [Continue reading…]
OneCoin pivots to travel discounts, skin care & forex fraud
Although the Ponzi side of OneCoin collapsed in 2017, the MLM recruitment side continues to this day.
And it’s not just easy pickings in third world countries either.
As per an update from “OneCoin Scandinavia” last week, OneCoin is pivoting to travel discounts and forex fraud. [Continue reading…]
Amway cops 6 month ban in Japan for dating app recruitment
Amway has copped a six month ban in Japan due to recruitment scamming.
An investigation by the Consumer Affairs Agency revealed Amway distributors are deceptively recruiting victims through dating apps. [Continue reading…]
PLCUX launched as Alex Reinhardt’s PLCU Ponzi collapses
Alex Reinhardt’s PLC Ultima Ponzi is collapsing, prompting him to launch PLCUX.
PLCUX marks the third Ponzi reboot from Reinhardt. [Continue reading…]
