Panama’s Superintendency of the Securities Market (SMV), has issued a securities fraud warning against CashFX Group. The warning from SMV is significant, as CashFX Group pretends to operate out of Panama through a local office. CashFX Group is registered as a Panama shell company through Cash FX Group SA. As noted by the SMV; The […]
CashFX Group securities fraud warning issued in Panama Read More »
It is increasingly appearing that Seacret Direct’s acquisition of WorldVentures has fallen through. To recap, WorldVentures confirmed the acquisition mid November. As part of their announcement, WV President Eddie Head stated that more details will be released over the coming weeks. That has not happened, at least not publicly. Shortly after the acquisition confirmation, WorldVentures
Did Seacret Direct’s acquisition of WorldVentures fall through? Read More »
The Securities Commission of the Bahamas has issued a securities fraud warning against CashFX Group. As per the Securities Commission of the Bahamas, CashFX Group is operating in violation of ‘the Securities Industry Act, 2011, the Investment Funds Act, 2019 and the Financial and Corporate Service Providers Act, 2000’. The Commission hereby advises the public
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Digital Income System, its owners and top promoters have been sued by the FTC. According to the regulator, Digital Income System is a fraudulent money-making opportunity scheme that preys on consumers hoping to earn money from home. The FTC’s lawsuit was initially filed under seal. We became aware of it thanks to a reader tip-off
Digital Income System a “fraudulent opp”, sued by FTC Read More »
OnPassive has been in prelaunch now for roughly two and a half years. To this day, gullible “founders” who shelled $97 for positions still have nothing to show for it. A reader comment from late October prompted me to flag OnPassive for an update check in a few months. The comment itself was the revelation
Ash Mufareh still stalling OnPassive launch after 2.5 years Read More »
WoToken was a mobile app Ponzi scheme launched by Chinese scammers last year. Last month the scam’s co-founders, Gao Yudong, Li Qibing, Wang Xiaoying and Tian YongBo, were each sentenced by a Chinese court to prison sentences ranging from two years six months to eight years six months. As reported by Sina on November 3rd;
WoToken Ponzi co-founders sentenced to prison in China Read More »
A Motion to Dismiss has seen the the LifeVantage class-action reduced by two counts. Following a partially granted motion to dismiss last December, Plaintiffs Brian Smith and Michael Ilardo filed an Amended Complaint. The Amended Complaint accuses LifeVantage of violating the Securities Exchange Act; violating Section 771(a)(1) of the US Code; violating Section 771(a)(2) of
LifeVantage class-action reduced to securities fraud Read More »
AirBit Club co-founder Gutemberg Dos Santos was extradited from Panama on November 25th. The extradition was part of the DOJ’s AirBit Club criminal case, which also names Renato Rodriguez as a co-conspirator. Dos Santos and Rodriguez launched the AirBit Club Ponzi scheme in 2016. Rodriguez and Dos Santos were indicted earlier this year. The DOJ
Gutemberg Dos Santos extradited to US from Panama Read More »
PlusToken’ three co-founders have been sentenced in a Chinese criminal case. Language-barriers means tracking the scope of the Chinese investigation into Plus Token is difficult. Initial reports in mid 2019 pegged Plus Token investor losses at $2.9 billion. A year or so later we learned Chinese authorities had arrested 109 suspects. Of those arrested, Plus
Chinese govt to keep $4.2 billion in seized Plus Token funds Read More »
Following on from the arrest of twenty-one Eagle Gates Group scammers in April, nineteen have since been jailed. On October 28th four Thai and two Taiwanese defendants were found guilty of defrauding the public and committing a transnational crime. As reported by the Bangkok Post; The first defendant was sentenced to 50 years in jail
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