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 »
A report from Morning News Direct Sales alleges that Jeunesse products worth 1.5 billion yuan were seized on May 19th. The haul equates to $210 million dollars in seized inventory, and is the second largest seizure of Jeunesse products to date. As per Morning News Direct Sale’s report, Jeunesse’s products were being smuggled into China
$770 million worth of Jeunesse products seized in China Read More »
Crypto help by the 8 Figure Lifestyle Dream defendants will be liquidated at the current market rate. A preliminary injunction granted last July froze the assets of John Bain, Alex Dee, Brian Kaplan and Jerrold Maurer. The above defendants ran the 8 Figure Dream Lifestyle gifting scheme. Last June the the FTC sued Bain, Dee,
8 Figure Dream Lifestyle defendant’s crypto to be liquidated Read More »
Mauritius’ Financial Service Commission has issued a securities fraud warning against Crowd1. The FSC conducted an investigation into Crowd1 following reports of ‘members of the public in Mauritius are being solicited via media to invest’. This investigation lead to the FSC concluding Crowd1’s MLM opportunity is a securities offering, which the company has not registered.
Crowd1 securities fraud warning issued in Mauritius Read More »
An investigation into Unaico executives in Pakistan has progressed to the arrest phase. The National Accountability Bureau is investigating Unaico CEO Dan Andersson and Atif Kamran. The investigation examined the allegation that Anderson and Kamran, through Unaico, caused Rs. 190 million ($1.1 million USD) in losses. The NAB’s investigation was announced mid last year. References
Unaico case in Pakistan proceeds to arrest phase Read More »
