Following an investigation into Herbalife’s Chinese operations, the SEC has determined the company uses it’s global compensation plan across the country. As Herbalife reveals in its own SEC filings, ‘[i]n China, while direct selling is permitted, multi-level marketing is not.‘ While Herbalife using their MLM compensation plan in China would certainly be illegal, the SEC […]
Herbalife cops $20 million SEC fine for fraud in China Read More »
As bits and pieces of the US DOJ case against OneCoin and its executives are unsealed, we’re getting a clearer picture of where the case is at. In a recent filing concerning potentially privileged information, a previously sealed order has revealed the New York court’s position on the DOJ’s evidence. The revealing order was made
US court agrees evidence shows OneCoin money laundering Read More »
As part of a civil case brought against him by the SEC, William Apostelos has received an $11.1 million dollar disgorgement judgment. Apostelos popped up on BehindMLM’s radar in 2014, through a review we did on Genesis Acquisition International. Turns out Genesis Acquisitions was part of a wider Ponzi scheme, which was Apostelos was busted
William Apostelos cops $11.1 million disgorgement judgment Read More »
Pursuant to a sealed July 23rd order, the DOJ is seeking access to potentially privileged evidence. Evidence sought by the DOJ includes Communications between OneCoin Ltd., OnePayments Ltd., OneNetwork Serviced Ltd., OneAcademy, OneLife, and RavenR Capital Limited and (their) attorneys. Communications between Ruja Ignatova, Frank Ricketts, Manon Hubenthal, Irina Dilkinska, International Marketing Services GmBH, International
DOJ seeks access to potentially privileged OneCoin evidence Read More »
In a September 16th court filing, Online Education Academy has advised it is “suspending its business and dissolving as soon as possible”. Online Education Academy (OEA) is a corporate defendant in the FTC’s 8 Figure Dream Lifestyle fraud lawsuit. The FTC alleges the company, run by Mark Schwartz, was part of a wider scheme that
OEA first casualty of 8 Figure Dream Lifestyle fraud lawsuit Read More »
After three years the City of London Police have revealed they’ve dropped their OneCoin investigation. The revelation was made in what appears to be a public request for a case review. As per Kieron Vaughan of the Economic Crime Directorate, London police have closed their investigation because OneCoin and the scammers running it aren’t operating
London Police drop OneCoin investigation, defer to DOJ Read More »
Mauritius’ Financial Services Commission has issued a securities fraud warning against Cloud Token. In their warning the FSC singles out Cloud Token affiliates promoting the investment opportunity through social media. The groups “Cloud Token Mauritius” and”Cloud Token Indian Ocean and Africa” are singled out by name. The public is being solicited by a certain group
Cloud Token securities fraud warning issued in Mauritius Read More »
The FTC has advised Vemma victims will soon be receiving settlement checks in the mail. As per a September 19th press-release, the FTC states it ‘will be sending 28,224 checks averaging $78.93 to victims of‘ Vemma. All up the amount sent out tops $2.2 million, as part of a pyramid scheme settlement reached in December
Vemma victims receive over $2.2 mill back thru FTC settlement Read More »
The Brazilian SEC has launched an investigation into the Investimento Bitcoin Ponzi scheme. Although they’ve yet to make a formal statement, the Brazilian SEC (CVM) has confirmed to UOL it is investigating Investimento Bitcoin for suspected fraud. CVM (Securities and Exchange Commission) says in a report that it has found “evidence of fraud in third-party
Investimento Bitcoin under investigation for fraud in Brazil Read More »
The SEC has filed for default judgement against DFRF Enterprises defendants Daniel Filho, Wanderley Dalman, Gaspar Jesus, Eduardo Da Silva and Romildo Da Cunha. The SEC’s default motions follow the denial of motions to dismiss by Dalman, Jesus and Da Silva. The trio’s lawyers have also withdrawn from the case, following months of non-communication. Daniel
SEC files for default judgment against remaining DFRF defendants Read More »
