Like most of you we weren’t really sure why a January 13th, 2021 date for distribution payments was set. Turns out that was more of a deadline, following reports from multiple TelexFree victims of received payments. Starting a few hours ago, TelexFree victims started to report having received emails confirming […]
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Plus Token scammers arrested in China
A year on from its collapse, Chinese authorities have arrested 109 scammers tied to the Plus Token Ponzi scheme. Plus Token was one of the early mobile wallet crypto Ponzi schemes. Launched in late 2018, Plus Token collapsed in mid 2019. At the time Chinese authorities estimated Plus Token caused […]
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Jay Noland unlikely to get Enhanced Capital Funding funds
A tentative ruling has signaled it is unlikely Jay Noland will gain access to ~$450,000 tied up in Enhanced Capital Funding. Enhanced Capital Funding (ECF) appears to be a shell company partially owned by Noland. The FTC asserts Noland owns 80% of ECF, with the remaining 20% owned by his […]
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QNet human trafficking recruitment ring busted in Liberia
Evidently QNet International’s pyramid scheme isn’t doing to well, prompting the company to use human trafficking as a recruitment tool. No, that’s not a play on words. Authorities in Liberia have made arrests, smashing QNet International’s human trafficking ring. Earlier this month Front Page Africa reported Qnet was at the […]
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Gilbert Armenta’s OneCoin fraud indictment
Gilbert Armenta, a resident of Florida, was a key figure in OneCoin’s money laundering operations. He has also been romantically linked to OneCoin’s founder, Ruja Ignatova. On September 12th, 2017, Armenta was indicted by a Grand Jury on three counts of extortion; conspiracy to commit extortion, attempted extortion and travel […]
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Mind Capital & EXW illegal in Italy, websites blocked
Mind Capital and Exchange Wallet, both MLM Ponzi schemes, have been declared illegal in Italy. CONSOB, Italy’s top financial regulator, has ordered both company’s websites blocked. CONSOB identifies both Mind Capital (dba Mindcapital Ou) and Exchange Wallet (dba VivaExchange Ou) as “abusive financial intermediaries”. In a localized equivalent of securities […]
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Jason Cardiff incarcerated if Aug 31st deadline not met
Even before their July 24th contempt hearing, the Cardiffs continued to serve up fresh delicious popcorn. On the eve of their contempt hearing, Defendants Jason and Eunjung Cardiff filed nearly 1000 pages of unsolicited, unexplained exhibits, without leave of court. What is more, they failed to comply with sealing procedures […]
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Payza co-founders plead guilty to money laundering
Payza co-founders Firoz and Ferhan Patel have pled guilty to money laundering fraud charges. The pair were indicted back in March 2018, with the guilty plea bringing criminal proceedings against them to a close. News of the Patel’s guilty pleas broke back in March, we’d been waiting for further news […]