BCN’s, GSPartners’ & PLC Ultima’s financial provider arrested
When MLM companies committing fraud tout a debit card, it’s typically obtained through shell companies attached to dodgy merchants.
Both GSPartners’ and PLC Ultima offered debit cards through PMA Media Group, Aurae Lifestyle, Nvayo Limited, Club Swan and AU Card LLC – all owned by Christopher James Scanlon.
Scanlon was arrested by US authorities at Miami International Airport on Thursday, May 25th. [Continue reading…]
Fintoch collapses, “William Thompson” outed as Joel Fry
The Fintoch Ponzi scheme has collapsed.
Withdrawals were disabled shortly after ~$31.6 million was reportedly withdrawn from an associated smart-contract. [Continue reading…]
SolaRoad Ponzi collapses, withdrawals disabled
SolaRoad has collapsed.
The Ponzi scheme has disabled withdrawals and initiated a “hackers!” exit-scam. [Continue reading…]
Generation Zoe lawyer Gustavo Saavedra pleads guilty
The first of the arrested Generation Zoe defendants in Argentina has pled guilty.
As reported by El Dario in Spanish on May 24th; [Continue reading…]
SEC & EmpiresX reach $34.8 million approved settlement
The SEC and EmpiresX have reached a $34.8 million settlement.
The reached settlement consists of $32,178,397 in disgorgement and $2,661,554 in prejudgment interest. [Continue reading…]
CFTC & MTI reach settlement, pending Commission approval
On May 5th, a Texas District Court gave the CFTC a May 26th deadline to file for default judgment against Mirror Trading International (MTI).
This prompted the CFTC to file a motion requesting the deadline be stayed on May 15th.
In that filing, the CFTC revealed it had reached a settlement with MTI. [Continue reading…]
CFTC sues iComTech Ponzi scammers for commodities fraud
The CFTC has sued iComTech Ponzi scammers for commodities fraud.
Name defendants in the CFTC’s May 24th filed Complaint are: [Continue reading…]
9 MarketPeak promoters arrested in Japan (Bitopex reboot)
Nine local promoters of the MarketPeak Ponzi scheme have been arrested in Japan.
An investigation by Osaka’s Police has revealed approximately 2515 MarketPeak victims, who together have lost ~$5.5 million. [Continue reading…]
Alliance in Motion Global fraud alert from Pakistan
An Alliance in Motion Global fraud alert has been issued by Pakistan’s Securities and Exchange Commission (SECP). [Continue reading…]
QZ Asset Management exit-scam complete, website offline
As of a few hours ago QZ Asset Management’s website was pulled offline.
The move marks the end of the Ponzi scheme’s “SEC audit” exit-scam. QZ Asset Management’s social media profiles have also been deleted. [Continue reading…]
