BitClub Network defendant Silviu Catalin Balaci has plead guilty to one count of conspiracy to commit wire fraud and to offer and sell unregistered securities. In Balaci’s indictment, the DOJ claim he “assisted in creating and operating BitClub Network”. He is also cited as BitClub Network’s primary programmer. Following indictment by a grand jury, Balaci, […]
Silviu Catalin Balaci pleads guilty to BitClub Network fraud Read More »
After putting together our report on Joby Weeks’ release appeal yesterday, I noted the DOJ had filed an opposition while I was working on the report. Having detailed Weeks’ arguments for release on appeal, today we go over the DOJ’s response. The DOJ opens their opposition by pointing out that Weeks (right) has been deemed
DOJ maintains Weeks an “unreasonable flight risk” Read More »
Following an overwhelming majority vote in favor, the TelexFree liquidation plan has been approved. Approval of the liquidation plan paves the way for distribution payments to TelexFree victims. Any outstanding objections were deemed overruled as of July 9th. Looking forward, TelexFree victims with a valid claim have been given until January 13th, 2021 to provide
Court approves TelexFree liquidation plan Read More »
On May 28th BitClub Network defendant Jobadiah “Joby” Sinclair Weeks filed a Motion for Appeal, Review, and Revocation of his detention order. Weeks’ first unsuccessfully attempted to bust of custody back in January. This was followed up by a plea to President Trump in April, citing previously rejected COVID-19 concerns. That too was denied. Weeks’
Joby Weeks’ unsealed release appeal Read More »
Mirror Trading International has received an emergency securities fraud cease and desist from Texas. The cease and desist order applies to Mirror Trading International PTY LTD and owner Cornelius Johannes “Johann” Steynberg (right). US MTI promoters Michael Aaron Cullison (Nevada), Steve Herceg (California) and Brian D. Knott (Nevada) are also respondents to the order. The
Mirror Trading International securities fraud C&D in Texas Read More »
The USFIA Receiver estimates that victims will recover approximately 75% of losses. In total there are around 8000 USFIA victim claims, totaling ~$123 million in losses. The hold up at the moment is sorting out claims made by one claimant on behalf of others. Those claims appear to be legitimate but need to be clarified.
USFIA Ponzi victims to recover approx 75% of losses Read More »
Authorities in Côte d’Ivoire have banned Crowd1 and QNet. The stated reason for the ban is both companies operate as scams and facilitate money laundering. The regulatory announcement was made as part of a July 8th Council of Ministers meeting. Section three of the meeting agenda saw council members discuss a national “upsurge in illegal
Crowd1 & QNet banned in Côte d’Ivoire for being scams Read More »
Voting on the proposed TelexFree liquidation plan closed on June 30th. A published tally of the ballots reveals that TelexFree victims voted in support of the liquidation plan. As per the Trustee’s July 7th report; Class 1 (priority claims) voted to accept the plan Class 2 (participant convenience claims) voted to accept the plan Class
TelexFree victims vote for distribution plan Read More »
Earlier this year it emerged TelexFree scammer Sann Rodrigues fled Brazil with the aid of a lawyer and two former police officers. Rodrigues remains at large, however the attorney and one of the police officers involved were arrested back in February. The pair were released a day later and have been out on bail since.
Rodrigues’ escape accomplices back in custody, more warrants Read More »
Elysium Capital has received a securities fraud warning from Estonia’s Financial Supervisory Authority (FSA). According to the FSA, Elysium Capital does not hold an activity licence for the provision of investment services in Estonia and therefore ELYSIUM CAPITAL is not authorised to provide investment services in Estonia. The FSA is Estonia’s top financial regulator. Its
Elysium Capital securities fraud warning issued in Estonia Read More »
