On the same day he was arrested, William Morro was arraigned before a Judge. At his arraignment Morro pled guilty to one count of bank fraud. Pending filing of a Presentence Investigation Report, Morro (right) is scheduled to be sentenced on August 1st, 2024. Morro was part of OneCoin’s US money laundering efforts led by […]
William Morro pleads guilty to OneCoin bank fraud Read More »
YIPTG fails to provide ownership or executive information on its website. YIPTG’s website domain (“yiptg.com”), was privately registered on January 5th, 2024. Despite only existing for a few months, on its website YIPTG falsely claims it was “establish[ed] in Nevada, USA in 2012”. As to being based of Nevada, YIPTG offers up a Nevada shell
Quantitative trading “click a button” app Ponzi Read More »
Mabcredit fails to provide ownership or executive information on its website. Mabcredit’s website domain (“mabcredit.com”), was first registered in 2009. The registration was last updated with bogus details on June 9th, 2022. The current Mabcredit website went online on or around 2021. Through the Wayback Machine we can see that prior 2021, the Mabcredit domain
Mabcredit Review: Vague finance Ponzi scheme Read More »
William Morro has been arrested on OneCoin money laundering charges. As per an April 23rd superseding indictment charging Morro with bank fraud; Morro knowingly execute[d] … a scheme … to defraud a financial institution … and to obtain moneys, funds, credits, assets, securities and other property … by means of false and fraudulent pretenses, representations
William Morro arrested for OneCoin money laundering Read More »
Serial Ponzi promoter Shelley Cullen has been convicted of five violations of New Zealand’s Fair Trading Act. Cullen, who once declared she wanted to be “one of the biggest scammers in NZ”, is facing a fine of up to $600,000 NZD per violation. Cullen’s legal troubles in New Zealand began in 2020. After receiving “a
Shelly Cullen convicted of Lion’s Share pyramid scamming Read More »
Former OneCoin promoter Ken Labine has launched an MLM company he’s calling NFPT. Labine claims he’s been “working towards” NFPT his “whole life”. Beyond the compensation plan though, NFPT specifics are intentionally vague. Labine uploaded an NFPT presentation to YouTube on April 15th. In the presentation Labine revealed NFPT is a pyramid scheme. Affiliate positions
Ken Labine launches MLM pyramid scheme Read More »
Following their arrest in 2016, AlphaPool and Bonofa ringleaders Detlef Tilgenkamp, Thomas Kulla, Gernot Fuhr and Martin Böhm have received prison sentenced. Unfortunately due to how financial fraud is reported on in Germany, we don’t have specific details on each Bonofa scammer’s sentence. Courtesy of a January 17th report from SR, what we do know
Bonofa scammers sentenced to 6-7 years in prison Read More »
As part of ongoing criminal proceedings against Sam Lee, Brenda Chunga and Rodney Burton, the DOJ is seeking HyperFund victim impact statements. Investors who lost money in HyperFund, Hyperverse and/or HyperNation are able to get further details from the DOJ’s website. HyperFund victim impact statements can either be mailed in or emailed (a PDF template
DOJ seeking HyperFund victim impact statements Read More »
BehindMLM last checked in on Beep Xtra back in 2017. Looking to get in on the cryptocurrency grift bandwagon, Beep Xtra had opted for XCoin mining securities fraud. Approximately seven months ago Beep Xtra resurrected its defunct YouTube channel to start promoting “Seriod 4.0 Masternodes”. Before we get into Beep Xtra’s latest grift, some history.
Beep Xtra reboots scam with “Steroid 4.0 Masternodes” Read More »
The GSPartners spinoff Billionico has received a securities fraud cease and desist from Texas. Named respondents in the Texas State Securities Board’s April 22nd emergency cease and desist order include: Billionico Academy, aka Billionico Primus Liquidity Holding Ltd Elite Club World Daniel Von Lison (right), aka Daniel Markus Lison, Daniel Markus von Lison, Daniel Freiherr,
Billionico securities fraud cease & desist from Texas Read More »
