Last we checked in the scheduled January 2019 Infinity2Global criminal trial had been postponed.

As per a November 5th order, a new jury trial date has been scheduled for July 22nd, 2019. [Continue reading…]

Japanese authorities have arrested eight individuals, who they claim are behind the Sener Trader Ponzi scheme.

Sener Trader launched in 2017 on the heels of Eagle Gates Group’s demise.

The latter Ponzi collapsed in February 2017, with Sener Trader emerging a few months later in May. [Continue reading…]

Daniel Filho’s long-running criminal case saga has come to end, following the dismissal of his indictment.

DFRF Enterprises launched in mid 2014 and was primarily pitched to TelexFree Ponzi victims.

The SEC shut DFRF Enterprises down in July 2015. The DOJ were pursuing a criminal case in tandem, which led to the arrest of owner Daniel Filho later that month.

BehindMLM has extensively covered Filho’s civil and criminal proceedings.

To summarize; [Continue reading…]

In August 2017 two of the most prominent websites used to promote scams were taken offline within minutes of each other.

The MoneyMakerGroup and TalkGold forums, owned by brothers Edward and Brian Krassenstein, were used to promote fraudulent investment and pyramid schemes for over a decade.

The websites eventually caught the attention of the authorities, which lead to the Krassenstein brothers being the subject of a DOJ forfeiture complaint filed mid last year.

In their complaint, the DOJ referred to MoneyMakerGroup and TalkGold as ‘discussion forums in which HYIP operators advertise and promote their fraud schemes to potential victims‘.

For those unfamiliar with the term, “HYIP” stands for “high yield investment program. The term is synonymous with Ponzi schemes.

And a good percentage of the Ponzi schemes advertised on MoneyMakerGroup and TalkGold were of the MLM variety. [Continue reading…]

The question of why Redwood Scientific Technologies stalled on providing the FTC with requested documents for over a year has been answered:

Redwood knew a regulatory lawsuit would follow.

In hindsight I can’t say I blame them really. Turns out consumer fraud is just the tip of the Redwood iceberg…

Prepare to be disgusted. [Continue reading…]

New York isn’t too happy with Feroz Patel’s efforts to keep Payza afloat.

On October 24th the New York State Department of Financial Services issued Payza, founders Firoz and Ferhan Patel and associated companies MH Pillars, OboPay and MH Pillars with a cease and desist. [Continue reading…]

Although their position appeared particularly precarious at times, Redwood Scientific Technologies has finally satisfied the FTC’s Civil Investigation Demand. [Continue reading…]

FirstCoin Club was an MLM crypto Ponzi scheme launched mid 2017.

FirstCoin Club affiliates invested real money for worthless FRST, an altcoin launched by the company.

A monthly ROI in FRST was paid out, which affiliates could realize by selling their FRST to new gullible bagholders.

Despite all Ponzi schemes inevitably collapsing, a disturbing number of investors still feign surprise when they do.

When FirstCoin Club collapsed, one such investor was Mohammed Kibria. [Continue reading…]

On top of the Traffic Monsoon Ponzi civil case, Charles Scoville was arrested and criminally charged back in June.

Scoville’s criminal case stems from alleged child sexual abuse in 2007. Specifics of the case are unknown and have not been made public.

In any event rather than defend the charge, Scoville has pleaded guilty to one count of attempted aggravated sexual abuse of a child. [Continue reading…]

Regulatory notices concerning Skyway Capital have been published by regulators in Germany and Greece. [Continue reading…]