John William Cranney, aka Jack Cranney, joined Shaklee back in 1967. He remained with the company until 2012. That same year Cranney was charged with running a $10.4 million dollar Ponzi scheme. I came across Cranney’s story as part of my research for a Shaklee review. Before we continue, I want to stress that Shaklee […]
Shaklee top earner John Cranney’s 11 year Ponzi scheme Read More »
The Comision Nacional del Mercadeo de Valores (CMNV) has issued a securities fraud warning against Omega Pro. According to the CNMV, Spain’s top financial regulator, Omega Pro is not authorised to provide investment services detailed in … the Securities Markets Law. This is the equivalent of a US securities fraud warning. Omega Pro launched in
Omega Pro securities fraud warning issued in Spain Read More »
The FTC has moved for summary judgment against all counts filed against Jason and Eunjung Cardiff. Default judgment has also been sought against their company Redwood Scientific Technologies. In support of their August 6th filed motion, the FTC claims there is no genuine issue as to any material fact with respect to the liability of
FTC files for summary judgment against Cardiffs Read More »
A criminal court in Antwerp has convicted Asker Sakinmaz, Cengiz Ehliz and Erwin Fally. The pair were behind the Flexkom pyramid scheme, which collapsed in 2017. According to local news reports, Belgian authorities began investigating Flexkom back in 2014. The criminal case was initiated following a civil complaint filed by victims. As per their respective
Flexkom scammers convicted in Belgium Read More »
Like most of you we weren’t really sure why a January 13th, 2021 date for distribution payments was set. Turns out that was more of a deadline, following reports from multiple TelexFree victims of received payments. Starting a few hours ago, TelexFree victims started to report having received emails confirming payment through PayPal. In one
TelexFree victims receive early recovery distribution payments Read More »
A year on from its collapse, Chinese authorities have arrested 109 scammers tied to the Plus Token Ponzi scheme. Plus Token was one of the early mobile wallet crypto Ponzi schemes. Launched in late 2018, Plus Token collapsed in mid 2019. At the time Chinese authorities estimated Plus Token caused $2.9 billion dollars in losses.
Plus Token scammers arrested in China Read More »
A tentative ruling has signaled it is unlikely Jay Noland will gain access to ~$450,000 tied up in Enhanced Capital Funding. Enhanced Capital Funding (ECF) appears to be a shell company partially owned by Noland. The FTC asserts Noland owns 80% of ECF, with the remaining 20% owned by his wife Lina. Rather than keep
Jay Noland unlikely to get Enhanced Capital Funding funds Read More »
Evidently QNet International’s pyramid scheme isn’t doing to well, prompting the company to use human trafficking as a recruitment tool. No, that’s not a play on words. Authorities in Liberia have made arrests, smashing QNet International’s human trafficking ring. Earlier this month Front Page Africa reported Qnet was at the center of a “major human
QNet human trafficking recruitment ring busted in Liberia Read More »
Gilbert Armenta, a resident of Florida, was a key figure in OneCoin’s money laundering operations. He has also been romantically linked to OneCoin’s founder, Ruja Ignatova. On September 12th, 2017, Armenta was indicted by a Grand Jury on three counts of extortion; conspiracy to commit extortion, attempted extortion and travel act extortion. Armenta was arrested
Gilbert Armenta’s OneCoin fraud indictment Read More »
Mind Capital and Exchange Wallet, both MLM Ponzi schemes, have been declared illegal in Italy. CONSOB, Italy’s top financial regulator, has ordered both company’s websites blocked. CONSOB identifies both Mind Capital (dba Mindcapital Ou) and Exchange Wallet (dba VivaExchange Ou) as “abusive financial intermediaries”. In a localized equivalent of securities fraud, CONSOB warns both Ponzi
Mind Capital & EXW illegal in Italy, websites blocked Read More »
