Following a failed bid to have tax-payers fund his defense, an entry of default has been recorded against Pedro Fort and Fort Ad Pays.

Last November the SEC sued Fort for running the Fort Ad Pays.

Fort Ad Pays was a Ponzi scheme launched in 2015. By mid 2016 the scheme had collapsed.

Through Fort Ad Pays, the SEC allege Pedro Fort scammed investors out of $38 million dollars. [Continue reading…]

Nerium Internationals’ fight against former Master Distributors Mark and Tammy Smith continues, with the latest seeing a raiding injunction granted against the Smiths. [Continue reading…]

The MLM streambox era was a short-lived fad across 2015 to 2016.

Mostly just an excuse to sell access to pirated content, most of the MLM streambox companies didn’t last long.

There are a few still pushing the concept though, which hasn’t gone unnoticed by copyright holders. [Continue reading…]

When South African authorities initially announced a criminal investigation into BTC Global back in March, investor losses were pegged at $50 million.

Following analysis of 27,500 investor complaints and an ongoing investigation, the figure has now climbed to $80 million. [Continue reading…]

In a May 25th press-release addressing digital tokens, the Singapore government has singled out OneCoin and BitConnect as Ponzi pyramid schemes. [Continue reading…]

The latest MLM Ponzi scheme to attach itself to a cryptocurrency appears to be Lyoness.

If a recent Latvian promotional video is to be believed, Lyoness are gearing up to launch “eCredits”. [Continue reading…]

One of the problem MLM scammers have when caught is that outside of the scam they were running, they had no other source of income.

In cases where an injunction is pursued and said scammers assets are frozen, that leaves them with limited options for hiring counsel.

Such is the case with Digital Altitude, Michael Force and Mary Dee, who together are demanding $100,000 to cover legal fees. [Continue reading…]

The first of the Digital Altitude defendants has buckled, following a joint filing requesting a stay in proceedings as to Morgan Johnson. [Continue reading…]

While Digital Altitude has acknowledged it made misrepresentations to the general public, the company and its principals are denying responsibility.

Specifically, Michael Force and Mary Dee have raised failure to exhaust
administrative remedies, good faith, offsets/set-offs, informed consent, and no reasonable basis for the requested relief as affirmative defenses. [Continue reading…]

It appears BitConnect, a Ponzi scheme with losses potentially running into the billions, was launched to skirt newly introduced demonetization law in India. [Continue reading…]