Indian authorities have seized ₹4.3 billion in cryptocurrency, gold and cash ($51.9 million USD). As reported by The Hindu on April 1st, the assets are tied to BitConnect’s “Divyesh Darji and others”. The ED probe is based on the First Information Reports registered by the Surat police in Gujarat under various provisions of the Indian […]
Indian authorities seize $51.9 million tied to BitConnect Read More »
Forcount Boris CEO Salvador Molina, played by Spanish national Nestor Nunez, was arrested in Spain on December 28th, 2022. This wasn’t publicly known until last month, following Nunez’s arrest upon touching down in the US last month. Nunez appears to have been arrested at the behest of US authorities. He was extradited to the US
Fourcount’s Boris CEO arrested in Spain, extradited to US Read More »
As part of civil liquidation proceedings, the High Court of South Africa has ruled Mirror Trading International was a Ponzi scheme. The court’s undated order follows an application by MTI’s liquidators, seeking orders confirming Mirror Trading International was an illegal scheme; the investment contract between Mirror Trading International and its investors was illegal; Mirror Trading
Mirror Trading International ruled a Ponzi scheme in SA Read More »
The SEC’s EmpiresX civil fraud case has been reopened. Last October both the SEC’s and CFTC’s parallel EmpiresX civil proceedings were stayed, pending Hague service on co-founder defendants Emerson Pires and Flavio Goncalves. In March 2023 Brazilian authorities informed the SEC they’d been unable to find Pires and Goncalves. This prompted the regulator to file
SEC’s EmpiresX civil fraud case reopened, CFTC update Read More »
Validus has received a second securities fraud warning from New Zealand. The warning follows the Financial Markets Authority ordering Validus to cease operations nationwide back in February. Despite the ban, in a March 20th warning the FMA states they are aware that seminars have been held in New Zealand to promote the products and services
Second Validus securities fraud warning from New Zealand Read More »
Trust Your Universe has received a securities fraud warning from Germany’s Federal Financial Supervisory Authority (BaFin). As per BaFin’s December 22nd consumer protection notice; Providers of banking transactions or financial services in Germany require a license under the KWG . BaFin clarifies that Universe Trading LLC does not have a license under the KWG to conduct banking business or provide financial services.
Trust Your Universe securities fraud warning from Germany Read More »
Trust Your Universe has received a securities fraud warning from Austria’s Financial Market Authority. As per the FMA’s March 17th warning; Danger! The FMA warns against doing business with: Universe Trading LLC / Trust Your Universe This provider is not authorized to provide banking transactions in Austria that require a license. The provider is therefore
Trust Your Universe securities fraud warning from Austria Read More »
InCruises has received a pyramid scheme fraud warning from Poland’s Office of Competition and Consumer Protection (UOKIK). UOKIK avoids using the term “pyramid scheme”, instead referring to inCruises as a “consortium system”, “syndicated scheme” and “Argentinian system”. InCruises’ described business model however is unmistakably a pyramid scheme. A constant flow of new money is essential
InCruises pyramid scheme warning from Poland Read More »
Gayle Toloff has been added as a relief defendant in the FTC’s ongoing Financial Education Services fraud case. Gayle Toloff is the wife of FES co-founder Mike Toloff. As per the FTC’s March 27th First Amended Complaint, Gayle Toloff is an individual who has received funds that can be traced directly to Defendants’ unlawful acts
FTC adds Michael Toloff’s wife Gayle to FES fraud case Read More »
The DOJ has stayed SEC civil proceedings against Forsage executives and promoters. The March 28th order staying SEC proceedings was preceded by a DOJ intervention filing on March 24th. In the filing, the DOJ reasons; In addition to the overlapping defendants in both the SEC’s case and the criminal case, both the SEC’s complaint and
DOJ stays SEC’s Forsage securities fraud civil case Read More »
