Synovus Bank’s threat to delay MOBE clawback litigation quashed

Frauds, MOBE, regulation

Following a fight over handing back funds fraudulently obtained via MOBE, the Receiver has discovered new potential clawback claims against Synovus Bank and QualPay. Talk about kicking an own goal… As processors attached to MOBE, Synovus Bank and QualPay handled $6.3 million in fraudulently obtained funds. Greed saw both companies refuse to return the money

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New Zeek Rewards Receiver provides final distribution roadmap

Frauds, regulation, Zeek Rewards

Following Kenneth Bell’s appointment as a District Judge, Matthew Orso has taken over the Zeek Rewards Receivership. In a May 22nd announcement, Orso has provided a roadmap towards final distribution payments. In his announcement, Orso cites “two main areas of litigation” that need to be resolved before final distribution payments are made. First, we must

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Pinkston dodges contempt, agrees to final judgment fraud penalties

companies, Frauds, regulation

Following the FTC’s push towards contempt proceedings, Eric Pinkston has decided to fully cooperate with the regulator. To that end Pinkston and the FTC have agreed on final judgment penalties, which have been submitted to the Commission for approval. Details of Pinkston’s final judgement are yet to be made public. What we do know however

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SEC sues iPro Network, claims $26 million dollar pyramid scheme

companies, Frauds, regulation

The SEC has filed suit against iPro Network, alleging the scam and founder Daniel Pacheco stole $26 million from investors. In addition to iPro Network and Daniel Pacheco (right), relief defendants named in the SEC’s May 22nd lawsuit include E Profit Systems; Matthew Lopez (cited as co-manager of Fintact Payment Solutions, Fintact Solutions Group and

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New DealShaker abandoned. Is this OneCoin’s final collapse?

Frauds, OneCoin

OneCoin’s New DealShaker platform has been abandoned. For die hard investors still backing OneCoin, New DealShaker was perhaps the only reason they hadn’t lost their minds over how much money they’ve lost. New DealShaker was supposedly being put together by Duncan Arthur (right). Arthur emerged as a prominent figure within OneCoin sometime after founder Ruja

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Mark and Tammy Smith granted Neora arbitration injunction

Frauds, Nerium

Since the filing of Mark and Tammy Smith’s Californian lawsuit against Neora (then Nerium), the company has moved swiftly to have the matter resolved via arbitration in Texas. To that end Neora filed an arbitration demand in July 2018. Describing Neora’s response as “retaliatory and vexatious attempts to litigate against Plaintiffs in Texas”, the Smiths’

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