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 The trio’s lawyers have also withdrawn from the case, following months of non-communication.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 »
The TelexFree Trustee has warned against victims selling approved claims. The warning was reported by the Brazilian Times. I was unable to find an English equivalent or even the context of the Trustee’s warning. In any event, along with a consumer rights attorney, the Trustee warns some companies are contacting victims and offering to buy
TelexFree Trustee urges victims not to sell claims Read More »
A Brazilian affiliate has secured a bankruptcy judgment against TelexFree. What does that mean? …I’m not sure. A TelexFree affiliate claims the company owes them $50,000. That prompted a lawsuit, which culminated in a bankruptcy order on Monday. According to the ruling, the company confirmed the amount due, said it was unable to pay the
Brazilian court orders TelexFree (Ympactus) into bankruptcy Read More »
The Traffic Monsoon Receiver’s assistance motion has been granted. The motion, made pursuant to the Hague Convention, seeks information in relation to the sale of a flat in Manchester, UK. The Receiver’s motion seeks assistance from the Senior Master of the Queen’s Bench Division of the Senior Courts of England and Wales. The request was
Traffic Monsoon Receiver granted flat sale assistance motion Read More »
Prosecutors in Taiwan have filed criminal charges against WorldVentures’ owners, alleging the company operates as a “classic pyramid scheme”. Prosecutors have filed charges against Kenneth Edward Head (aka Eddie Head) and Jonathon Starks McKillip. Eddie Head is WorldVentures’ President and Chief Strategy Officer. Jon McKillip was President of Global Sales up until December 2017. Filed
Prosecutors file WorldVentures pyramid scheme charges in Taiwan Read More »
Authorities in Thailand have arrested top local OneCoin promoter Mana Chu Mueang. Mana, who refers to himself as a “cryptocurrency wizard”, is believed to have stolen over 500 million baht from OneCoin victims ($16.3 million USD). According to Thai authorities, Mueang’s OneCoin Ponzi downline spanned “about ten countries” in Asia. Mueang stands accused of ripping
OneCoin “cryptocurrency wizard” arrested in Thailand Read More »
The FTC vs. Redwood case seems to have fallen off my calendar, likely due to me forgetting to pen down an update. In any event I was reminded of the case earlier today by a reader. Looking at the case docket, wooh it’s a bit of a doozy. Since our last June 25th update, which
Intimidation used in Redwood contempt proceedings Read More »
Following a failed bid to blame the DOJ for production of evidence so close to trial, Mark Scott’s OneCoin trial has been postponed till November. Yesterday we covered the DOJ’s frustration over what they perceived to be Mark Scott’s ongoing obstructionist tactics. In response to the DOJ’s claims and request for a trial adjournment, Scott’s
Mark Scott’s OneCoin trial rescheduled to November 4th Read More »
Top MOBE affiliate Steven Bransfield has revealed the FTC is going after him. The revelation was noted by the MOBE Receiver in his latest August 29th update report, following Bransfield’s bankruptcy filing. Steven Bransfield, a Florida resident, filed for Chapter 11 bankruptcy on August 26th. In Bransfield’s 161 page filing, he reveals that $450,000 of
FTC goes after top MOBE affiliate Steven Bransfield for $9.4 million Read More »
