Following a preliminary injunction being granted against Digital Income System promoters Brandon Frye and Kaitlyn Scott, the FTC has now moved for default judgment. As per the FTC’s January 13th court filing; The FTC’s Complaint alleges that Frye, Scott, and the remaining Defendants—Digital Income System, Inc., Derek Jones Foley, William […]
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Charles Scoville released from jail?
Undelivered mail in the Traffic Monsoon SEC case suggests owner Charles Scoville may have been released from jail. Scoville (right) was locked up after pleading guilty to attempted child sexual abuse in late 2018. He is believed to have been sentenced to three years in prison but I’ve never seen […]
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Future Maker Life Care pyramid shut down in India
Authorities in New Delhi have shut down the Future Maker Life Care pyramid scheme in 2018. Directors Radhe Shyam and Bansi Lal have been arrested. The Enforcement Directorate is now pursuing criminal charges against them. Shyam and Lal have been charged under the Prize Chit and Money Circulation (Banning) Act. […]
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Ernie Ganz & David Barker def judgments granted ($953K)
The Traffic Monsoon Receivership has secured default judgments against promoters Ernest “Ernie” Ganz and David Barker. Together, the pair of scammers are up for $953,195. With respect to Ernie Ganz (right), the court accepted as fact that he stole $448,051 from Traffic Monsoon victims. Ganz has failed to appear, plead, […]
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FSCA investigation into MTI completed, what now?
South Africa’s FInancial Sector Conduct Authority has announced the completion of its Mirror Trading International investigation. It appears what happens next is now up to Commercial Crime Unit of the National Prosecuting Authority. Whereas the FSCA previously labeled MTI an “illegal operation“, the conclusion of the investigation is absent in […]
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Second OneCoin conviction in Singapore = 6 mths prison
A second OneCoin promoter in Singapore has been sentenced to six months in prison. Terence Lim Yoong Fook will also have to pay a $210,000 SGD ($158,603 USD). Fook was arrested last year on charges related to pyramid selling. He was convicted in November and sentenced earlier this week. Fook’s […]
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Lion’s Share cease and desist issued in New Zealand
A New Zealand based Lion’s Share promoter has received a cease and desist notice. The cease and desist notice was issued to Shelly Cullen by the Commerce Commission on December 21st. A month to the day, the Commerce Commission made the notice public on January 19th. Cullen (right) caught the […]
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CubeBit securities fraud warning issued in the Philippines
CubeBit has received a securities fraud warning from the Philippines SEC. As per the SEC’s December 10th warning, CubeBit is ‘soliciting investments in the Philippines WITHOUT THE NECESSARY LICENSE AND/OR AUTHORITY from the Commission.’ The public is again warned of such possible “Ponzi Scheme” offering high-yielding investments online. This is […]
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MBI’s Teddy Teow wanted for $83 million Macau scam
Malaysian authorities arrested MBI International founder Teddy Teow in June 2017. He was arrested again by Malaysian authorities in May 2018. Despite facing charges leading to at least five years in prison… Teow was released on bail and, you guessed it, promptly fled to Macau. We know this because Teow […]
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QubitTech securities fraud warning issued in Spain
Spain’s Comisión Nacional del Mercado de Valores has issued a securities fraud warning against QubitTech. As per the CNMV’s January 11th warning, QuibiTech is not authorised to provide the investment services detailed in Article 140 of the Spanish Securities Markets Act, which include investment advice, nor to provide the auxiliary […]