payment processors @ BehindMLM

FCA cracks down on Chris Scanlon’s Nvayo Limited

Christopher Scanlon’s Nvayo Limited has been hit with a number of regulatory restrictions by the FCA. On August 8th, the FCA imposed six restrictions on Nvayo Limited’s business operations:

BCN’s, GSPartners’ & PLC Ultima’s financial provider arrested

When MLM companies committing fraud tout a debit card, it’s typically obtained through shell companies attached to dodgy merchants. Both GSPartners’ and PLC Ultima offered debit cards through PMA Media Group, Aurae Lifestyle, Nvayo Limited, Club Swan and AU Card LLC – all owned by Christopher James Scanlon. Scanlon was arrested by US authorities at [Continue reading…]

CoinPayments still servicing $4 billion OneCoin Ponzi scheme

Payment processor CoinPayments is still providing financial services to the $4 billion OneCoin Ponzi scheme. This follows a categorical denial from CoinPayments in June 2022.

ePayments shuts down, offers clients refunds (OneCoin?)

Back in 2020 payment processor ePayments announced it was the subject of a freeze order. The freeze order was issued by the FCA, tying up over ¬£100 million in client funds. Those funds are still frozen. Now ePayments has announced it’s shutting down.

TelexFree class-action survives seven Motions to Dismiss

Twelve Defendants in the TelexFree class-action filed motions to dismiss the latest Fifth Amended Complaint. Five motions were granted and one was partially granted, leaving six Defendants fully on the hook.

CashFX Group sets up BullnBear Pay to pay withdrawals

Typically an MLM Ponzi scheme launches with or switches to cryptocurrency to avoid financial regulation. Then there’s CashFX Group who, following two years of ongoing crypto withdrawal problems, have now convinced investors they’ll be paid through a debit card.

Ahmad Khawaja’s Allied Wallet fraud indictment

News broke of Allied Wallet executives being indicted on criminal charges last Friday. At the time I was unable to access what I believed was a sealed indictment. Sure enough a sealed indictment was filed on August 25th. Pending the arrest of three of the suspects, all of which were US-based, the DOJ requested the [Continue reading…]

Allied Wallet execs indicted, owner Ahmad Khawaja on the run

Four Allied Wallet executives, including owner and CEO Ahmad “Andy” Khawaja, have been indicted on fraud charges. This latest round of indictments follows charges filed in 2019, as well as an FTC lawsuit detailing theft of $110 million.

Vida Divina sues T1 Payments over disputed termination fee

Vida Divina is suing payment processor T1 Payments over a disputed $233,424 termination fee. Vida Divina is a California based MLM company run by Armand Puyolt. BehindMLM reviewed Vida Divina shortly after launch in 2016. On its website T1 Payments claims it “specializes in payment processing for high-risk industries”.

Payment processors denied slice of MOBE Receivership pie

As per a January 6th order, MOBE’s non-consumer creditors¬†were directed to file claims for payment consideration. As per a report filed by the MOBE Receiver on April 22nd;