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…]

MTI’s top net-winners summoned to pay back ~$242 million

Liquidators in South Africa have issued a summons against eighteen of Mirror Trading International’s top net-winners.

Together, the scammers are being held liable for R4.66 billion (~$244 million USD). [Continue reading…]

Beachbody class-action asserts Bodi Coaches are employees

A May 22nd filed class-action lawsuit alleges Beachbody has

exploited its California salesforce by misclassifying them as independent contractors rather than as employees.

Through her one hundred and thirty-seven page filed suit, Plaintiff Jessica Lyons seeks to hold Beachbody accountable under California law. [Continue reading…]

FTC seeking info from IM Mastery Academy’s Matthew Thayer

The FTC website entry for its IM Mastery Academy case has updated.

What we now know is the entry pertains to a petition to quash a civil investigative demand issued by the FTC. [Continue reading…]

NFT Rewards: Zeek Rewards’ Robert Craddock returns

Zeek Rewards’ Robert Craddock has reemerged as the owner, CEO and President of NFT Rewards.

NFT Rewards Team is an MLM crypto Ponzi combined with selling of virtual shares. Before we dive deeper into that though, it’s important to recap on who Robert Craddock is. [Continue reading…]

FTC investigating IM Mastery Academy for consumer protection

The FTC appears to have prematurely revealed it has launched a consumer protection enforcement action against IM Mastery Academy. [Continue reading…]