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…]

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…]

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…]

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…]

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 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…]

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…]

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…]

Perso Hybrid markets itself as “a different way of doing bank”.

The company website identifies Jocsan Perso as CEO but doesn’t reveal where it is being operated from.

Perusal of Perso HybridBank’s official Facebook page reveals the company is based out of Sinaloa, Mexico.

According to Jocsan Perso’s corporate bio, he

has been a full-time trader since 2004 in major international markets and a binational leader in the world’s largest Marketing Network.

He has sold more than 30 million dollars in products and has had personal gains of over 500 thousand dollars.

In actuality, Perso (right) has a criminal history in crystal meth trafficking.

Perso’s actual name is Jocsan Octavio Perez Soto. “Perso” appears to be a portmanteau of Perez and Soto.

In 2013 Tijuana’s State Preventative Police busted Perso with 3.4 kg of crystal meth.

Once the agents were stationed in the perimeter of action, police intervention took place, during which a policeman observed at first sight that a plastic container was located on the passenger seat, which today it is known that it contained a white and granulated substance that apparently is a synthetic drug known as “crystal”.

While the vehicle that was in the driver’s seat descended from the vehicle, who said to be called Jocsan Octavio Pérez Soto, 30 years old, originally from Culiacán, Sinaloa.

The estimated street value of the haul at the time was $82,000.

Sort of puts Perso’s claim of selling “$30 million dollars in products” into perspective hey.

Read on for a full review of the Perso HybridBank MLM opportunity. [Continue reading…]

The good news TelexFree victims waiting for an update on allowed claims is you’re one step closer to distribution.

The bad news is the latest update means payments probably won’t be going out this year. [Continue reading…]