companies

MyCryptoWorld under criminal investigation in Switzerland

companies, Frauds, regulation

Authorities in Switzerland have announced My Crypto World and several related persons of interest are under criminal investigation. The My Crypto World investigation is being headed up by the Soluthurn Police Department. The canton of Solothurn is a state equivalent in northwest Switzerland. The Solothurn Police Department are investigating MyCryptoWorld, Infinity Economics and WeGoCrypto. BehindMLM […]

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PowerNodes collapses, Mize Network reboots with PowerMine

companies, Frauds

Adrian Jacuzzi’s Mize Network has collapsed again, prompting the launch of PowerMine. Mize Network launched last year and saw affiliates pay up to €25,000 EUR to join. Commissions within Mize Network itself were tied to the recruitment of new affiliates. Cryptocurrency fraud was introduced with the launch of PowerNodes, a Ponzi scheme within a pyramid

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Pinkston dodges contempt, agrees to final judgment fraud penalties

companies, Frauds, regulation

Following the FTC’s push towards contempt proceedings, Eric Pinkston has decided to fully cooperate with the regulator. To that end Pinkston and the FTC have agreed on final judgment penalties, which have been submitted to the Commission for approval. Details of Pinkston’s final judgement are yet to be made public. What we do know however

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SEC sues iPro Network, claims $26 million dollar pyramid scheme

companies, Frauds, regulation

The SEC has filed suit against iPro Network, alleging the scam and founder Daniel Pacheco stole $26 million from investors. In addition to iPro Network and Daniel Pacheco (right), relief defendants named in the SEC’s May 22nd lawsuit include E Profit Systems; Matthew Lopez (cited as co-manager of Fintact Payment Solutions, Fintact Solutions Group and

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Stream Energy’s retail customers sold off for $300 million

companies, Frauds

Stream Energy and NRG Energy have entered into a $300 million acquisition agreement. The agreement will see NRG Energy acquire steam’s “retail electricity and natural gas businesses”. An MLM company selling off its retail customers? This can’t be good… The NRG Energy deal excludes Stream Energy’s MLM operations, which one would assume are practically worthless

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FX Trading Corp investment fraud warning issued in Brazil

companies, Frauds, regulation

Brazilian authorities have issued a FX Trading Corp investment fraud warning. According to the Brazilian Securities and Exchange Commission, FX Trading Corp is not licensed to offer securities in Brazil. Within the context of MLM, a security is any MLM company offering a passive investment opportunity. As per our FX Trading Corp review, the company

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Cloud Token to continue securities fraud with ASIC’s help

Cloud Token, companies, Frauds

In a bid to continue to entice investment into their illegal unregistered securities investment scheme, Cloud Token has registered itself with the Australian Securities and Investments Commission (ASIC). Cloud Token has no physical business operations in Australia. Nor is Australia a significant source of investment revenue for the company (Alexa). Rather Cloud Token is run

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Monspace Ponzi scammers arrested and charged in Malaysia

companies, Frauds, regulation

Admins of the Monspace Ponzi scheme have been arrested in Malaysia. CEO Lai Chai Shuang (Jessy Lai), Wong Tat Foong and Chai Ling Mooi plead not guilty to charges relating to fraud. Specific charges include violations of Malaysia’s Direct Sales and Anti-Pyramid Scheme Acts. Jessy Lai (right) is facing two charges. As Director of Monspace,

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