The SEC’s lawsuit against Nutra Pharma Corporation and CEO Erik Deitsch, has survived a Motion to Dismiss. Some of the defenses raised in the motion however were upheld. As part of their lawsuit, the SEC alleged Deitsch published press-releases with bogus info. The press-releases were published pursuant to consultancy agreements with Wall Street Buy, New […]
SEC’s MyNyloxin lawsuit survives motion to dismiss Read More »
Just under two weeks ago BehindMLM called out the TelexFree Trustee for failing to communicate with victims. Today the Trustee has finally provided an update on parallel IRS proceedings and distribution payments. In our April 19th article we cited the IRS’ $429 million dollar claim as a major risk to TelexFree victim claim distributions. In
TelexFree victims to initially recover 40%, IRS claims resolved Read More »
Thai authorities have arrested twenty one suspects in connection to the Eagle Gates Group Ponzi scheme. The latest arrests follow that of two suspects over two years ago. Those apprehended by the Department of Special Investigation are mostly Thai citizens (19 suspects). Two non-Thai citizens are part of the group but their nationalities have not
21 Eagle Gates Group scammers arrested in Thailand Read More »
Individually and through their D&L Trust, Linda and David Hackett stole over $1.2 million dollars from TelexFree victims. Over four years since clawback proceedings were filed against them, the Hacketts have settled with the TelexFree Trustee. Initially the Hacketts disputed the Trustee’s claims against them. They disagreed with how much the Trustee recorded they stole,
Linda & David Hackett settle TelexFree fraud for $455,000 Read More »
The FTC has warned ten MLM companies over false COVID-19 marketing claims. Claims made by the companies and their distributors specifically pertain to preventing and treatment of COVID-19. Warning letters were sent out by the FTC to the following MLM companies on April 24th: The FTC notes letters sent out to the above companies mark
MLM companies receive COVID-19 warnings from FTC Read More »
A previously ordered stay on BitClub Network criminal proceedings has been extended through to May 30th. Back in February the New Jersey District court issued a standing order, continuing all civil and criminal jury selections and jury trials in the District of New Jersey scheduled to begin before April 30, 2020. On April 20th that
BitClub Network criminal case stayed due to COVID-19 Read More »
The Zeek Rewards Receiver has provided an update on last partial distribution payments. In his April 20th update, the Receiver states: On Friday, April 17, I made a fourth partial interim distribution to affiliate-investors holding allowed claims. The Receiver Team mailed over 122,000 checks for a total distribution of approximately $28 million. Some of you
Zeek Rewards victim distributions top 81% recovery Read More »
The CFTC has dropped their case against Control Finance. On April 6th the court accepted the FTC’s motion to voluntarily dismiss Control Finance as a defendant. Emphasizing the absurdity of the case, Control Finance’s fictional CEO Benjamin Reynolds is still an active defendant. Following his failure to respond to the case, the court clerk recorded
CFTC abandons fraud case against Control Finance Read More »
Although claim dispute filings continue to clog the TelexFree case docket, litigation between the Trustee and IRS is likely the reason no claim distributions have gone out. We’ve known about the IRS’ claims against the Trustee for a while, but today is the first time we examine the case and what it potentially means for
IRS’ $429 million claim puts TelexFree victim payouts at risk Read More »
From time to time I run a few searches to check up on our cast of characters. Last night I came across an interesting search result. Turns out Montana served Nui a securities fraud cease and desist last September. In hindsight, this goes a long way to explain Darren Olayan’s subsequent disappearance and the whole
Nui served securities fraud C&D in Montana last Sep. Read More »
