Austria’s Financial Market Authority has issued a public investor warning pertaining to Wantage One. Wantage One, a Ponzi scheme in its own right, is a spinoff of Antony Norman’s Wellmont Capital linked scams. The Financial Market Authority (FMA) is is Austria’s top financial regulator. As per the FMA’s November 13th warning, Wantage One is not […]
Wantage One securities investor warning issued in Austria Read More »
Brazilian authorities have arrested Dilhermano Pereira Gonçalves, a key figure in the PayDiamond Ponzi scheme. Gonçalves was arrested on November 5th, on a warrant following his indictment. Pay Diamond was a Ponzi scheme launched in early 2017. By mid-year the scheme appears to have collapsed. Gonçalves (right) is one of five accused. Authorities are also
PayDiamond scammer Dilhermano Gonçalves arrested in Brazil Read More »
Courtesy of Matthew Russell Lee from the Inner City Press, details of Konstantin Ignatov’s guilty plea have been made public. That Ignatov was cooperating with the DOJ was revealed during the early days of Mark Scott’s criminal trial. It was assumed Ignatov had also reached a plea agreement, but details weren’t publicly available. Reporter Matthew
Details of Konstantin Ignatov’s OneCoin guilty plea Read More »
The FTC has gone after MLM services provider InfoTrax for multiple violations of the FTC Act. InfoTrax is a well-established services provider within the MLM industry. The company is based out of Utah was founded in 1988 by CEO Mark Rawlins. InfoTrax’s client list features a number of well-known MLM brands, including doTerra, Xango and
InfoTrax settle FTC Act consumer privacy and security violations Read More »
Regulators in Germany and South Africa have issued fraud warnings pertaining to involvement in Karatbars International. In Germany Karatbars has caught the attention of the Federal Financial Supervisory Authority (BaFin), the country’s top financial regulator. In a November 11th press-release, BaFin announced it had issued Karatbars with a cease and desist on October 21st. On
Karatbars fraud warnings issued in Germany & South Africa Read More »
The DOJ has filed a letter requesting several communications be admitted as evidence, on the grounds they prove Mark Scott knew OneCoin was fraudulent. The communications in question are correspondence between Scott and “bank and other providers”. Banks and other providers became suspicious of both OneCoin and the Fenero Funds, and chose to terminate customer
Emails prove Mark Scott knew OneCoin was fraudulent Read More »
Daniel Pacheco’s hilarious answers to the SEC’s iPro Network fraud lawsuit have been rejected by the court. Back in August we covered Pacheco’s hilarious answers to the SEC’s lawsuit. According to Pacheco (right), the SEC can’t sue him because; a statute of limitations applies; “the SEC did not suffer any actual damages”; and Pacheco “may
Daniel Pacheco’s hilarious fraud lawsuit answers rejected Read More »
Recharge and Get Paid operates in the ecommerce MLM niche. The company appears to be based out of Nigeria, however no ownership details are provided on Recharge and Get Paid’s website. Recharge and Get Paid’s website domain (“rechargeandgetpaid.com”) was initially registered in 2015. The domain registration details were last updated on October 27th, 2019. No
Recharge and Get Paid Review: Recharge cards and recruitment Read More »
Unbeknown to me (and I imagine a fair for of you), the Plaintiff’s Interim Executive Committee (PIEC) and TelexFree Trustee have been at loggerheads over investment flow. Following two rulings that sided with the Trustee on the matter, now a First Circuit appeal decision has also followed suit.At issue between the PIEC and Trustee is
Major roadblock for TelexFree victim distributions removed Read More »
Mark Scott’s OneCoin trial is taking place over the next few weeks. The highlight of proceedings so far has been Ruja Ignatova’s brother, Konstantin Ignatov, trotted out as a cooperating witness. Ignatov’s testimony, yesterday in particular, has provided us with a few interesting bombshells. As is likely to be the case throughout Mark Scott’s criminal
Konstantin’s testimony drops one OneCoin bombshell after another Read More »
