In a September 16th court filing, Online Education Academy has advised it is “suspending its business and dissolving as soon as possible”. Online Education Academy (OEA) is a corporate defendant in the FTC’s 8 Figure Dream Lifestyle fraud lawsuit. The FTC alleges the company, run by Mark Schwartz, was part of a wider scheme that …
OEA first casualty of 8 Figure Dream Lifestyle fraud lawsuit Read More »
After three years the City of London Police have revealed they’ve dropped their OneCoin investigation. The revelation was made in what appears to be a public request for a case review. As per Kieron Vaughan of the Economic Crime Directorate, London police have closed their investigation because OneCoin and the scammers running it aren’t operating …
London Police drop OneCoin investigation, defer to DOJ Read More »
Mauritius’ Financial Services Commission has issued a securities fraud warning against Cloud Token. In their warning the FSC singles out Cloud Token affiliates promoting the investment opportunity through social media. The groups “Cloud Token Mauritius” and”Cloud Token Indian Ocean and Africa” are singled out by name. The public is being solicited by a certain group …
Cloud Token securities fraud warning issued in Mauritius Read More »
The FTC has advised Vemma victims will soon be receiving settlement checks in the mail. As per a September 19th press-release, the FTC states it ‘will be sending 28,224 checks averaging $78.93 to victims of‘ Vemma. All up the amount sent out tops $2.2 million, as part of a pyramid scheme settlement reached in December …
Vemma victims receive over $2.2 mill back thru FTC settlement Read More »
The Brazilian SEC has launched an investigation into the Investimento Bitcoin Ponzi scheme. Although they’ve yet to make a formal statement, the Brazilian SEC (CVM) has confirmed to UOL it is investigating Investimento Bitcoin for suspected fraud. CVM (Securities and Exchange Commission) says in a report that it has found “evidence of fraud in third-party …
Investimento Bitcoin under investigation for fraud in Brazil Read More »
The SEC has filed for default judgement against DFRF Enterprises defendants Daniel Filho, Wanderley Dalman, Gaspar Jesus, Eduardo Da Silva and Romildo Da Cunha. The SEC’s default motions follow the denial of motions to dismiss by Dalman, Jesus and Da Silva. The trio’s lawyers have also withdrawn from the case, following months of non-communication. Daniel …
SEC files for default judgment against remaining DFRF defendants Read More »
The TelexFree Trustee has warned against victims selling approved claims. The warning was reported by the Brazilian Times. I was unable to find an English equivalent or even the context of the Trustee’s warning. In any event, along with a consumer rights attorney, the Trustee warns some companies are contacting victims and offering to buy …
TelexFree Trustee urges victims not to sell claims Read More »
A Brazilian affiliate has secured a bankruptcy judgment against TelexFree. What does that mean? …I’m not sure. A TelexFree affiliate claims the company owes them $50,000. That prompted a lawsuit, which culminated in a bankruptcy order on Monday. According to the ruling, the company confirmed the amount due, said it was unable to pay the …
Brazilian court orders TelexFree (Ympactus) into bankruptcy Read More »