Riway affiliates claim deer placenta cures cancer, MS & infertility
Singaporean MLM company Riway is attempting to branch out from Asia into Europe.
Unfortunately they’re doing so by making all manner of unsubstantiated medical claims. [Continue reading…]
MMM Global Ponzi scheme resurrected for 2018
For some, the death of MMM Global founder Sergey Mavrodi earlier this year marked the end of an era.
For others it presented a shameless opportunity to continue scamming people in his name. [Continue reading…]
$405,187 recovered from Zeek Rewards net-winners in 3Q, 2018
As revealed in the Zeek Rewards Receiver’s third quarter report for 2018, another $405,187 has been recovered from the Ponzi scheme’s net-winners. [Continue reading…]
Nui launches kala cloud mining despite securities fraud cease & desist
It’s pretty established now that MLM cryptocurrency cloud mining opportunities are a security.
Which makes Nui’s new kala mining offering all the more unbelievable. [Continue reading…]
BitConnect scammers impersonate Texas Securities Board
Last month the Texas Securities Board published its Annual Enforcement Report.
Following its publication, scammers have been using the report to reach out and target BitConnect victims. [Continue reading…]
Steve Chen’s wife relinquishes $3.2 million in stolen USFIA funds
Through Ally Investors LLC and other shell companies, Steve Chen’s wife, Li Zhao (aka Jennifer Zhao), received around $3.37 million in stolen USFIA investor funds.
In 2015 the USFIA Receiver recovered approximately $3.2 million from a safe deposit box and bank accounts held in Ally Investors’ name.
The seizure saw Li Zhao, the primary beneficiary of the funds, respond with fury and demand the funds be returned to her.
Roughly three years later, Zhao and the USFIA Receiver have finally reached a settlement. [Continue reading…]
TVI Express criminal fraud charges filed in India
Although it collapsed ages ago and its website is offline, the TVI Express saga continues.
Five years ago Indian authorities arrested Tarun Trikha, founder and CEO of the company.
In 2014 the Indian Supreme Court directed the Central Bureau of Investigation to investigate TVI Express.
Four years later the CBI has finally filed charges. [Continue reading…]
Frega Global Review: RealStew rebooted as altcoin factory Ponzi
Frega describes itself as a “financial technology company” whose aim is to provide “financial services for the banked, under banked and unbanked”.
The problem is behind Frega Global’s cliched pitch is your typical cryptocurrency Ponzi scheme. [Continue reading…]
Visalus Amazon racket lawsuit settled in secret?
Last July former top earner Michael Gehart filed a lawsuit against Visalus.
Gehart alleged Visalus was an “illegal pyramid scheme”. He also the claimed the company ran a secret Amazon retail racket, effectively giving Gehart an unfair advantage over other Visalus affiliates.
In early 2017 Visalus took control of the Amazon racket, prompting Gehart to file suit over lost income.
A year and a half later it seems Gehart has reached a settlement with Visalus, following filing of a stipulated dismissal on November 27th. [Continue reading…]
My Crypto Mine (Bitqyck) securities fraud cease and desist issued
A securities fraud cease and desist that closely ties into Bitqyck has been issued in Texas.
Bitqyck was launched in early 2017 by co-founders Bruce Bise and Samuel (Sam) Mendez.
They were joined by Mark Steven Royer shortly after launch.
The Texas Securities Board refers to Bise as “a white collar criminal”. Mendez is a former attorney who was disbarred ‘after committing acts of dishonesty and moral turpitude by misappropriating funds‘.
In other words, your typical MLM cryptocurrency company owners. [Continue reading…]
