Frank Calabro Jr. stole over $2.2 mill from USI-Tech victims
Earlier this month Frank Calabro Jr. posted a series of rants against the North Carolina Securities Division.
In one provided court transcript, it is revealed Calabro Jr. stole at least $2.2 million from USI-Tech Ponzi victims. [Continue reading…]
Taurise reboot Ponzi scheme review roundup
Taurise was a Ponzi scheme that launched in mid 2018.
Fronted by badly dubbed over actors, Taurise collapsed about a year after launch.
While Taurise’s website is long gone, recently several schemes have popped up using the same logo and site template.
Rather than review these opportunities separately, I’ve combined them below in a triple roundup. [Continue reading…]
Corona Invest Review: COVID-19 themed Ponzi scheme
Corona Invest provides no information on its website about who owns or runs the company.
Corona Invest’s website domain (“coronainvest.io”) was privately registered on February 27th, 2020.
A residential address in the UK is provided on Corona Invest’s website. It is doubtful this address has anything to do with the company.
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…]
Konstantin Ignatov released, Mark Scott returns to prison
Over the weekend OneCoin’s Konstantin Ignatov was released from prison. Conversely but for an unrelated reason, Mark Scott returned to prison.
I was hoping we’d get a case docket update today but doesn’t look like that’s going to happen. [Continue reading…]
Coinfinesse Group caps withdrawals, blames “bitcoin crash”
Coinfinesse Group has capped affiliate withdrawals.
The Ponzi scheme cites bitcoin’s recent crash as the primary factor behind the decision. [Continue reading…]
My Passive Trades collapses, pulls COVID-19 exit-scam
Sometime in the last few days My Passive Trades has suspended payouts.
An announcement on the company’s website blames COVID-19 for the collapse. [Continue reading…]
First OneCoin US arrest was in October 2017
Mark Scott’s trial saw FBI Special Agent Shimko take to the stand.
As revealed in Special Agent Shimko’s cross-examination, the first known OneCoin arrest by US authorities was mid September 2017. [Continue reading…]
How OneCoin was illegally promoted in the US
On paper OneCoin never officially operated in the US. Unofficially US investors were being fed the same lies and encouraged to sign up.
Spearheading these efforts were Maurice Katz and Sal Leto. Katz and Leto hosted various OneCoin events across the US, with the assistance of local promoters.
One such event was attended by William Horn. [Continue reading…]
Matt Lloyd cops $318 mill MOBE fraud FTC judgment order
Matthew Lloyd McPhee has been handed down a $318 million dollar final judgment. [Continue reading…]
The witness testimony of Konstantin Ignatov
If you ever wondered what day to day life was like in a $4 billion dollar Ponzi scheme, Konstantin Ignatov’s witness testimony is probably your best bet.
BehindMLM reader WhistleBlowerFin has graciously made available transcripts from Scott’s trial late last year.
In addition to his pre-trial testimony and live reporting from the Inner City Press, the following testimony is from Mark Scott’s November 2019 trial.
Konstantin Ignatov was questioned by the DOJ and cross-examined by Mark Scott’s attorney Arlo Devlin-Brown.
I’ve done my best to quote the transcript with minimal editing. There is some overlap between Konstantin’s pre-trial testimony and Inner City Press’ reporting, but I’ve done my best to minimize it.
When combined, I believe all three sources make for compelling reading to anyone who’s been following OneCoin. [Continue reading…]
