regulation – Page 9

Gilbert Armenta’s OneCoin forfeiture tops $50 million

A consented to preliminary order has pegged Gilbert Armenta’s OneCoin forfeiture at over $50 million {dollars}. Armenta’s preliminary forfeiture order follows Armenta receiving a 5 12 months jail sentence final month. By means of his responsible plea, Armenta (proper) consented to being held answerable for $300 million collectively with co-conspirators Ruja Ignatova, Konstantin Ignatov and […]

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Financial Education Services fails to dismiss FTC fraud case

companies, Frauds, regulation

Monetary Training Companies’ Movement to Dismiss FTC proceedings in opposition to it has been denied. The FTC filed swimsuit in opposition to FES final June, alleging FES was a $467 million pyramid scheme. As a part of these proceedings, FES filed a Movement to Dismiss on July twenty fifth. In its February thirteenth order denying

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5th NovaTech securities fraud warning from Canada (Quebec)

Frauds, NovaTech FX, regulation

NovaTech FX has acquired a securities fraud warning from Quebec’s Autorite des Marches Financiers. NovaTech LTD was added to the AMF’s investor warnings listing on February third, 2023. The AMF identifies NovaTech FX as a “high-risk platform” involving “crypto property” and foreign exchange”. NovaTech LTD shouldn’t be registered with the Autorité des marchés financiers (AMF)

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Montana’s CSI goes after collapsed Vbit Technologies Ponzi

companies, Frauds, regulation

Vbit Applied sciences, a collapsed MLM crypto Ponzi, has attracted the eye of Montana’s state securities regulator. As per an inner investigation by Montana’s Fee of Securities and Insurance coverage (CSI), Vbit Applied sciences scammed over 15,000 traders out of at the very least $11 million. On February 18th Troy Downing, Head of CSI, issued

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Michael Glaspie pleads guilty to “Mike G Deal” criminal charge

companies, Frauds, regulation

Michael Glaspie, a serial promoter of fraudulent MLM schemes, has pled responsible to wire fraud. Glaspie’s legal case stems from his promotion of the “Mike G Deal”, which the DOJ confirmed was a $55 million “funding fraud scheme”. At time of publication Glaspie’s legal case has but to look on PACER. Nonetheless particulars of Glaspie’s

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NBH Finance collapses, pulls bizarre stock-exchange exit-scam

companies, Frauds, regulation

The NBH Finance Ponzi scheme has collapsed. In doing so, the scammers behind it have pulled a slightly weird inventory trade exit-scam. A communication posted on NBH Finance’s web site advises the corporate has “not been capable of repay the invested for therefore lengthy.” You see, within the world economic system and cryptocurrency, the bitcoin

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NovaTech FX ordered to cease trading in Ontario, Canada

Frauds, NovaTech FX, regulation

NovaTech FX has been issued a short lived stop commerce order by the Ontario Securities Fee. OSC’s order follows a NovaTech FX securities fraud warning final December. The order additionally cites NovaTech FX’s Ponzi collapse earlier this month (recruitment commissions are nonetheless being paid out, albeit delayed). NovaTech operates the web site www.novatechfx.com (Web site),

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Lado Okhotnikov indicted for Forsage Ponzi wire fraud

Forsage, Frauds, regulation

Forsage founder Vladimir “Lado” Okhotnikov has been indicted for conspiracy to commit wire fraud. Along with Okhotnikov (proper), a federal grand jury additionally indicted Olena Oblamska (aka Lola Ferrari), Mikhail Sergeev (aka Mike Mooney, Gleb and Gleb Million), and Sergey Maslakov. All 4 Russian nationals are founders of the unique Forsage Ponzi scheme. The quartet

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Mindset 24 Global’s John McLane Jr. pleads guilty to tax fraud

companies, Frauds, regulation

Mindset 24 International’s John Brian McLane Jr. has pled responsible to tax fraud. Following an IRS investigation, the DOJ filed prices in opposition to McLane in June 2022. As per a June twenty first “info” submitting, McLane made simply over one million {dollars} in 2019, which he did not pay $417,481 in taxes on. Along

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Vortic United pyramid scheme warning from Russia

companies, Frauds, regulation

Vortic United has acquired a pyramid scheme fraud warning from Russia. As per the Central Financial institution of Russia’s February twentieth discover, Vortic United reveals “indicators of a monetary pyramid”. Vortic United is a Boris CEO Ponzi scheme headed up by Jensen Robles. The cryptocurrency rip-off pitches every day returns of as much as 1.8%

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