Energy Spas Ponzi scheme collapses, website gone
The Energy Spas Ponzi scheme has collapsed.
Sometime in the last 24 hours Energy Spa’s website has been pulled offline. The scam’s social media profiles have also been deleted. [Continue reading…]
Dave Jordan sells Valentus off to formulator Paul Pearson
Valentus founder and CEO Dave Jordan has sold the company to Paul Pearson.
How much Pearson bought Valentus for has not been disclosed.
When exactly the sale took place is unclear but top distributors were informed at Valentus’ Sioux Falls headquarters earlier this month. [Continue reading…]
Vasayo shuts down, Daniel Picou to head up reboot MLM opp
On or around February 11th, Vasayo informed its distributors is was shutting down its MLM opportunity.
The announcement was made via a Zoom webinar, which I’ve unfortunately not been able to find a copy of.
Nonetheless following a tip off from a BehindMLM reader, here’s what I’ve been able to suss out. [Continue reading…]
APLGO commission delays, on the verge of collapse?
A source has provided insight into APLGO’s current business operations.
The company is reported to be behind in commissions for over a year, as well as being behind on inventory payments in “most markets”. [Continue reading…]
Mayo Trade Ponzi collapses, withdrawals disabled for 90 days
The Mayo Trade Ponzi scheme has collapsed.
Last week Mayo Trade’s website was updated to reveal “MT 2.0”:
The primary change is withdrawals have been disabled for 90 days. [Continue reading…]
WeWe Global’s Oceania marketing tour was a disaster
WeWe Global’s hopes of pitching its Ponzi scheme across Australia and New Zealand throughout February hasn’t gone to plan.
The so-called “Oceania Tour” was met with a hostile reception from New Zealand’s Financial Markets Authority, who issued a Ponzi and pyramid fraud warning on February 8th. [Continue reading…]
Oscar Garcia blames Batched’s collapse on COO Frank DiCrisi
Following on from Batched disabling withdrawals towards the end of 2022, founder and CEO Oscar Garcia held a webinar on February 10th.
Speaking to around 150 investors, Garcia laid out what he claims happened in the lead up to Batched’s collapse. [Continue reading…]
Eddy Alexandre pleads guilty to EminiFX criminal fraud charge
EminiFX founder Eddy Alexandre has pled guilty to one count of commodities fraud.
Alexandre’s guilty plea includes $248.8 million forfeiture judgment. [Continue reading…]
Arrest warrant issued for Karatbars International’s Harald Seiz
A German court has issued an arrest warrant for Karatbars International founder and CEO Harald Seiz. [Continue reading…]
Gilbert Armenta’s OneCoin cooperation dossier
On January 27th OneCoin defendant Gilbert Armenta’s attorneys filed a Sentencing Memorandum.
The filing was heavily redacted, prompting Inner City Press’ Matthew Lee to file a motion requesting access to an unredacted version.
At the request of the court, on February 10th Armenta’s attorneys clarified their position on the redactions.
Recognizing that Mr. Armenta’s cooperation has been referenced publicly we have removed redactions to general references to Mr. Armenta’s cooperation and have left redacted specific non-public details concerning his cooperation efforts and the Government’s investigation.
On the eve of Armenta’s sentencing, we take a look at the mostly unredacted Sentencing Memorandum.
Primarily to document the details of Armenta’s cooperation, and what led to the DOJ revoking its intent to file a supporting leniency letter with respect to Armenta’s sentencing. [Continue reading…]
