Deposition discovery fails to delay USFIA Ponzi case
A joint-stipulation filed by the SEC and Steve Chen on September 30th had asked for a delay in proceedings of four months.
Judge Klausner has rejected the rescheduling and preserved the original January 10th trial date. [Continue reading…]
SEC: Traffic Monsoon does not have sufficient funds to repay investors
In what shouldn’t come as a surprise to anyone, the SEC have revealed, contrary to Charles Scoville’s representations, that Traffic Monsoon cannot repay its investors. [Continue reading…]
SEC: Scoville’s arguments are “without merit” & “legally meaningless”
In addition to the periodic pro-Ponzi rants Scoville has been publishing on Facebook, a few weeks ago Scoville filed an opposition to the SEC’s requested preliminary injunction.
The SEC have filed their reply, claiming Scoville’s arguments are “without merit” and “legally meaningless”. [Continue reading…]
Traffic Monsoon Receiver subpoenas Google, Yahoo & William Bryant
The Traffic Monsoon Receiver’s investigation into Traffic Monsoon continues, with the latest seeing subpoenas served on Google, Yahoo and William Bryant. [Continue reading…]
M2M Crowdfund Review: Five-tier bitcoin cash gifting
There is no information on the M2M Crowdfund website indicating who owns or runs the business.
The M2M Crowdfund website domain (“m2mcrowdfund.com”) was registered on the 28th of September 2016, however the domain registration is set to private.
At the time of publication Alexa estimate that India is the largest source of traffic to the M2M Crowdfund website. This strongly suggests that whoever is running M2M Crowdfund is also based out of India.
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…]
Swiss court rules Lyoness a Ponzi scheme, affiliate contracts invalid
Lyoness has lost a lawsuit filed in a Swiss Cantonal court.
The lawsuit sought to ascertain whether or not Lyoness Premium affiliate memberships were legally binding. Who filed the lawsuit is unclear (although my guess is a Lyoness affiliate who lost money). [Continue reading…]
World Ventures lose case against Norwegian Ministry of Culture
Back in February 2014, the Norwegian Gaming Board ruled World Ventures was an illegal pyramid scheme.
World Ventures filed an appeal, which they lost later that year in November.
Within a month World Ventures ceased operating in Norway. Some Norwegian-based affiliates however continue to market World Ventures internationally.
The next move by World Ventures saw the company file for an injunction against the Norwegian Gaming Board, which was denied in early 2015.
In June 2015 a World Ventures affiliate claimed the company was going to sue the Norwegian government.
In February of this year news broke that World Ventures was suing the Norwegian Ministry of Culture.
A decision on the lawsuit was reached a few days ago…
Zeek Receiver: OFAC deficient claims will be purged after Dec 31st
If you’re a Zeek Rewards victim and have yet to file OFAC certification, you might want to get a move on.
In an update published on October 5th, the Zeek Receiver has advised claims without an attached OFAC certification and release will be purged after December 31st. [Continue reading…]
Crowd Earner Review: Token-based cash gifting
There is no information on the Crowd Earner website indicating who owns or runs the business.
The Crowd Earner website domain (“crowdearner.net”) was registered on the 21st of September 2016, however the domain registration is set to private.
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…]
Bitcoin 4 Passive Review: Five-tier bitcoin cash gifting
There is no information on the Bitcoin 4 Passive website indicating who owns or runs the business.
The Bitcoin 4 Passive website domain (“bitcoin4passive.com”) was registered on the 25th of September 2016, however the domain registration is set to private.
Alexa currently estimate Malaysia and India as the two largest sources of traffic to the Bitcoin 4 Passive website. This strongly suggests Bitcoin 4 Passive is being run out of one of these countries.
The official Bitcoin 4 Passive Facebook group is adminned by an account bearing the name “Rayford Nicholas”.
The Rayford Nicholas Facebook account was set up earlier this year and appears to be bogus.
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…]
