regulation

FTC sues Allied Wallet for assisting scams with stealing $110 million

Frauds, payment processors, regulation

Fee processor Allied Pockets has been sued by the FTC for violations of the FTC Act. The regulator alleges Allied Pockets assisted “enterprise alternative and training scams, pyramid schemes, and illegal debt assortment operations” with illegally charging over $110 million to client accounts. In keeping with the FTC, since at the least 2012 defendants Allied […]

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AdvoCare to dump MLM opportunity after FTC talks

companies, Frauds, regulation

AdvoCare has introduced that it’s dumping it’s MLM alternative. The choice was made following “confidential talks” with the FTC. As of but no particulars about an FTC investigation into AdvoCare have been made public. In line with AdvoCare, talks with the FTC centered on “how (the corporate) compensates its distributors”. Because of these talks, AdvoCare

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Zeek Rewards net-winner scammers’ Fourth Circuit appeal denied

Frauds, regulation, Zeek Rewards

In an announcement revealed earlier this month, the Zeek Rewards Receiver has offered some updates on last distribution funds. We’re a bit late on the Receiver’s Could sixth announcement. Nonetheless within the Receiver’s newest announcement he reveals a Fourt Circuit enchantment loss for sure Zeek Rewards’ net-winners. Stated net-winners objected to being ordered to return funds

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Charles Scoville stalls again with second SCOTUS writ extenstion

Frauds, regulation, Traffic Monsoon

A second writ deadline extension has given Charles Scoville one other month to delay Visitors Monsoon proceedings with. Following losses in district and appeals courts, Scoville is in search of to have his case heard within the Supreme Court docket. To that finish he was granted go away to file a writ of certiorari again

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Todd Spencer settles Zhunrize fraud with Receiver

Frauds, regulation, Zhunrize

The final Zhunrize defendant holding out has settled with the Receiver. Todd Spencer was named as a clawback defendant within the Zhunrize Receiver’s $2.8 million Vodaware lawsuit. By means of Vodaware, Spencer is believed to have acquired upwards of $350,000 in stolen Zhunrize investor funds. Our final replace on Spencer’s clawback litigation was in February,

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OneCoin claims no Ponzi because IMAs scammed, not consumers

Frauds, OneCoin, regulation

OneCoin has stopped defending its fraudulent enterprise mannequin. As an alternative, the corporate now claims it’s not a Ponzi pyramid scheme as a result of solely IMAs had been scammed. “IMA” stands for Unbiased Advertising Affiliate and is what OneCoin refers to its associates as. As per OneCoin’s enterprise mannequin, IMAs spend money on OneCoin

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MOBE trial date penciled in, Matt Lloyd expecting criminal charges?

Frauds, MOBE, regulation

A Could tenth Case Administration Report has revealed a proposed 2020 MOBE trial date. Matt Lloyd McPhee’s response to manufacturing of proof additionally suggests he is likely to be anticipating felony expenses. Earlier than we get into that, simply an replace on Russel Whitney’s illustration. Whitney, as an alleged high earner in MOBE, is a

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Monspace Ponzi scammers arrested and charged in Malaysia

companies, Frauds, regulation

Admins of the Monspace Ponzi scheme have been arrested in Malaysia. CEO Lai Chai Shuang (Jessy Lai), Wong Tat Foong and Chai Ling Mooi plead not responsible to expenses referring to fraud. Particular expenses embody violations of Malaysia’s Direct Gross sales and Anti-Pyramid Scheme Acts. Jessy Lai (proper) is dealing with two expenses. As Director

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