Silver Star Live was a forex themed MLM opportunity we came across in 2019. Based on its business model we concluded that, at a minimum, Silver Star Live was engaged in securities fraud. We first learned of CFTC action against Silver Star Live in late 2019. Two of the company’s co-owners, Candace Ross-Mahmoud and Hassan […]
Silver Star Live’s David Mayer sued by CFTC for fraud Read More »
A Crowd1 securities fraud warning has been issued by New Zealand’s Financial Markets Authority. The FMA’s June 5th warning cites Crowd1’s Spanish corporate address and states We recommend exercising caution before dealing with Crowd1 and Impact Crowd Technology S.L. as they are not registered companies or financial service providers in New Zealand. Crowd1 offers a
Crowd1 securities fraud warning issued in New Zealand Read More »
Last month we covered the Jason and Eunjung Cardiff’s attempt to have FTC proceedings against them stayed, pending a since withdrawn appeal against the sale of their house. The Cardiffs also argued “they were not afforded due process”, and had a whinge about most of their motions being denied. The court disagreed and denied the
Cardiffs denied stay, Poujade up for contempt & trial date Read More »
The SEC’s fraud case against defendants Dan Putnam and Jean Paul Ramirez was initially filed under seal on May 7th. The case was unsealed on June 4th, leading to our report on it. Looking at the case docket, we learn that Putnam’s and Ramirez’s assets were frozen the same date the SEC filed the case.
Dan Putnam & Jean Ramirez’s assets frozen in SEC case Read More »
Last August Charles Scoville filed a motion requesting Traffic Monsoon victims pay his $270,000+ legal bill. On May 29th Scoville’s motion was denied. As stated simply by the court: A defendant in a securities fraud lawsuit does not have a constitutional right to use frozen assets to pay for an attorney. The District Court acknowledged
Scoville denied use of victim funds to pay legal fees (again) Read More »
The FTC has issued a second COVID-19 warning to major players in the MLM industry. This time around the regulator is citing examples of marketing fraud from Youngevity, Melaleuca, Isagenix, Juice Plus+, Plexus Worldwide and Vivri. Specific examples of COVID-19 marketing fraud cited by the FTC include: Juice Plus A video promoting The Juice Plus
FTC issues second COVID-19 warning to MLM companies Read More »
The SEC has filed a federal fraud lawsuit against Daniel F. Putnam, Jean Paul Ramirez Rico and Angel A. Rodriguez. The SEC alleges the defendants defrauded consumers out of at least $12 million through cryptocurrency securities fraud. In addition to the primary individual defendants named above, the SEC names Putnam’s seventy-six year old father, Richard
SEC sues Dan Putnam & Jean Ramirez for $12 mill in fraud Read More »
Crowd1 has been identified as a “pyramid scam” by Gabon’s Ministry of Economy and Finance. In a June 1st communication, Gabon’s top financial regulator warns that Crowd1 is akin to network marketing pyramid scam systems in which profit does not come sales activity but from the recruitment of new members. Thus, only the designers of
Crowd1 “pyramid scam” warning issued in Gabon Read More »
MOBE’s payment processor QualPay has settled fraud charges with the FTC. The settlement includes a $46.7 million dollar suspended monetary judgment. As per a June 1st press-release issued by the FTC; Qualpay ignored numerous signs that MOBE was a fraudulent business. The red flags listed in the complaint include questions about whether MOBE was a
QualPay settles MOBE fraud charges with FTC Read More »
TelexFree Brazil co-owners Carlos Wanzeler and Carlos Costa have been sentenced to twelve and a half years in prison. The pair have also been fined R$1 million ($183,698 USD) each. There’s a few TelexFree cases going on in Brazil, but I believe this is the Espirito Santo criminal case that emerged in 2017. Of note
TelexFree’s Wanzeler & Costa cop 12 yrs prison in Brazil Read More »
