Trust Your Universe has received a securities fraud warning from Austria’s Financial Market Authority. As per the FMA’s March 17th warning; Danger! The FMA warns against doing business with: Universe Trading LLC / Trust Your Universe This provider is not authorized to provide banking transactions in Austria that require a license. The provider is therefore […]
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InCruises has received a pyramid scheme fraud warning from Poland’s Office of Competition and Consumer Protection (UOKIK). UOKIK avoids using the term “pyramid scheme”, instead referring to inCruises as a “consortium system”, “syndicated scheme” and “Argentinian system”. InCruises’ described business model however is unmistakably a pyramid scheme. A constant flow of new money is essential
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Gayle Toloff has been added as a relief defendant in the FTC’s ongoing Financial Education Services fraud case. Gayle Toloff is the wife of FES co-founder Mike Toloff. As per the FTC’s March 27th First Amended Complaint, Gayle Toloff is an individual who has received funds that can be traced directly to Defendants’ unlawful acts
FTC adds Michael Toloff’s wife Gayle to FES fraud case Read More »
Michael Shannon Sims, known in the MLM industry as Mike Sims, has consented to a preliminary injunction. The injunction pertains to commodities fraud charges brought by the CFTC. The CFTC’s January 2023 filed charges are in relation to a series of Ponzi schemes run by Sims (below), Todd Brisco (Sims’ brother in law), Tin Tran,
Mike Sims consents to Yas Castellum Ponzi injunction Read More »
Prolific MLM crypto Ponzi admin Ryan Mark Ginster has been sentenced to 27 months in prison. Ginster’s sentenced was handed down following a entry of a guilty plea last December. The DOJ filed charges in November 2021, alleging Ginster (right) was behind a string of Ponzi schemes; Social Profimatic, Automatic Bitcome, My Micro Profits, eProfit
Ryan Ginster sentenced to 2+ years in prison for MLM Ponzis Read More »
You were sued by the SEC for securities fraud in 2021. You just recently found the SEC is investigating you again for securities fraud. Your Ponzi scheme has collapsed, you found out your partners in crime secretly used your company to launder millions for another Ponzi scheme, and you’re also in the middle of a
Oscar Garcia providing payment processing to NextGen Ponzi Read More »
The Financial Supervision Authority of Norway (Finanstilsynet), has issued an investment fraud warning against Be. As per Finanstilsynet’s March 23rd warning; Better Experience (BE) does not have approval to operate investment services in Norway, and the company therefore does not have the necessary approval under Norwegian law. The company is also not registered with the
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An ongoing legal dispute between Ponzi scammers Armen Temurian and Phillip Piccolo has been settled. As per a March 24th filing; Plaintiffs/counter-defendants Phillip A. Piccolo Jr., Kevin Dalton Johnson, Paul Morris Joseph Reid and K.F.I Software and Defendants/counter-plaintiffs, Armen Temurian, Vista Technologies LLC and Vista Network LLC, hereby give notice to the Court of the
Piccolo v. Vista Network civil lawsuit confidentially settled Read More »
Premier Financial Alliance has reached a settlement in a pending class-action filed against it. PFA class-action proceedings are the combination of two class-action lawsuits; The first lawsuit filed in 2018 alleges PFA is a pyramid scheme. The second lawsuit filed in 2019, alleges PFA is a pyramid scheme that specifically targeted Asian immigrants. The two
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Maxpread Technologies has received a pyramid fraud warning from Russia. As per the Central Bank of Russia’s March 24th warning, Maxpread Technologies shows “signs of a financial pyramid” scheme. Maxpread Technologies is an MLM crypto Ponzi that pitches up to 330% annually. The scam is headed up by Albert Ignatev, a Russian national hiding out
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