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. As per ePayments’ September 12th announcement; ePayments has begun the process of […]
ePayments shuts down, offers clients refunds (OneCoin?) Read More »
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. The five Defendants who successfully got the case dismissed against them are: The Sheffield Group; PNC Bank, N.A.; International Payout Systems; Garvey Schubert Barer,
TelexFree class-action survives seven Motions to Dismiss Read More »
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. CashFX Group is a Ponzi scheme that has thus far received fraud warnings from no less
CashFX Group sets up BullnBear Pay to pay withdrawals Read More »
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
Ahmad Khawaja’s Allied Wallet fraud indictment Read More »
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. According to a DOJ press-release put out earlier today; Four individuals have been charged in the District
Allied Wallet execs indicted, owner Ahmad Khawaja on the run Read More »
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”. As alleged by Vida Divina, they
Vida Divina sues T1 Payments over disputed termination fee Read More »
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; The Receiver received a total of 15 Claim Forms. Twelve of the Claim Forms were presented by “Consumer Creditors.” The three Non-Consumer Claim Forms received all were
Payment processors denied slice of MOBE Receivership pie Read More »
Top Tradera earners have filed a lawsuit against the company’s payment processor, iPayout. Tradera was a trading signals MLM company. Just shy of a fortnight ago Tradera’s owners, Kody Sell and Eastan Harris, pulled the plug and exit-scammed. The abrupt shut down left Tradera distributors in a lurch. A lawsuit filed on December 28th names
Tradera’s payment processor iPayout sued by top earners Read More »
I held off reporting on the Payza case outcome as I wanted to go off the official case files. Pacer hasn’t updated yet but, courtesy of the Montreal Gazette, we know how the November 10th sentencing hearing went down. As per a report published by the Montreal Gazette, Firoz Patel was sentenced to three years
Payza co-founders sentenced to 4+ years prison Read More »
The DOJ is requesting Payza victims to file a petition for remission. It should be noted upfront that there is no guarantee filing a petition will result in partial or full recovery. The sample petition form provided allows Payza victims to explain to the DOJ the nature and circumstance of their loss. With respect to Payza,
Payza victims urged to file remission petitions Read More »
