regulation

$405,187 recovered from Zeek Rewards net-winners in 3Q, 2018

Frauds, regulation, Zeek Rewards

As revealed within the Zeek Rewards Receiver’s third quarter report for 2018, one other $405,187 has been recovered from the Ponzi scheme’s net-winners. Dialogue with different Zeek net-winners continues. Individually an attraction towards a judgment requiring those that made probably the most to return it remains to be enjoying out. The opposite main unresolved problem […]

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Steve Chen’s wife relinquishes $3.2 million in stolen USFIA funds

Frauds, regulation, USFIA

Via Ally Buyers LLC and different shell firms, Steve Chen’s spouse, Li Zhao (aka Jennifer Zhao), acquired round $3.37 million in stolen USFIA investor funds. In 2015 the USFIA Receiver recovered roughly $3.2 million from a secure deposit field and financial institution accounts held in Ally Buyers’ identify. The seizure noticed Li Zhao, the first

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My Crypto Mine (Bitqyck) securities fraud cease and desist issued

companies, Frauds, regulation

A securities fraud stop and desist that intently ties into Bitqyck has been issued in Texas. Bitqyck was launched in early 2017 by co-founders Bruce Bise and Samuel (Sam) Mendez. They had been joined by Mark Steven Royer shortly after launch. The Texas Securities Board refers to Bise as “a white collar felony”. Mendez is

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Seventy-two TelexFree disallowed claims lists published

Frauds, regulation, TelexFree

The excellent news TelexFree victims ready for an replace on allowed claims is you’re one step nearer to distribution. The unhealthy information is the most recent replace means funds in all probability gained’t be going out this yr. On Monday November twenty sixth the TelexFree Trustee revealed seventy-two notices of disallowed claims. The filings include

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Eagle Bit Trade securities fraud cease and desist issued in Italy

companies, Frauds, regulation

Prime Italian monetary regulator CONSOB has issued a stop and desist towards Eagle Bit Commerce. Eagle Bit Commerce surfaced earlier this yr and promotes an 8.5% weekly ROI by way of cryptocurrency buying and selling. Naturally the corporate supplies no proof of buying and selling going down, nor does Eagle Bit Commerce have every other

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The SEC’s delicious deposition of Faith Sloan

Frauds, regulation, TelexFree

As a part of their civil TelexFree case, on October 4th and November fifth the SEC deposed Religion Sloan. Whereas Sloan actually isn’t the primary outstanding MLM underbelly determine to be deposed, what makes this deposition distinctive is that the SEC has made your entire transcript public. Sloan’s deposition gives revealing perception into the thoughts

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SEC slams Faith Sloan’s fraud, seeks $1.2 million partial judgment

Frauds, regulation, TelexFree

What sort of MLM marketer is Religion Sloan? In accordance with the SEC she’s one which has participated in at the least 9 multi-level advertising packages (together with TelexFree) through which a promoter recruits different promoters and is compensated based on the variety of individuals recruited. Yep. The SEC simply publicly slammed Religion Sloan for serial

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OneCoin’s Sebastian Greenwood arrested, extradited to US

Frauds, OneCoin, regulation

The regulatory noose round Ruja Ignatova’s neck has tightened even additional, following the arrest of Sebastian Greenwood. All of us appear to have slept on the information, which was reported in a throwaway paragraph by the Bangkok Put up on November fifth. As per the Bangkok Put up’s article, which examines Thailand’s elevated participation in

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Pro HealthyWayz scammers arrested in India ($4.1 million lost)

companies, Frauds, regulation

From the sounds of it, Professional HealthyWayz was your typical MLM autoship recruitment scheme. Following the duping of 40,000 associates for simply over $4 million two years in the past, an investigation by Indian authorities was launched. That investigation has now led to the arrest of 9 ringleaders behind the scheme. Professional HealthyWayz had associates

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