Category: Uncategorized
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DEVELOPING STORY: Thai Police Bust ‘UFunClub,’ Yet Another Cross-Border Network-Marketing Program; Case May Involve $307 Million
UPDATED 9:10 A.M. EDT U.S.A. It’s whack-a-mole via MLM or network marketing — again. There are reports in Thai media about a major pyramid/Ponzi bust involving a cross-border “program” known as “UFunClub.” (See links below.) No American suspects appear to have been arrested or named so far, but Americans have promoted UFunClub. One of them,…
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GlobalNews.ca: Pyramid Scheme Was Operating Out Of British Columbia Nursing Home
Two senior managers at the St. Michael’s Centre nursing home in Burnaby allegedly were running a pyramid scheme targeted at women and have been fired, GlobalNews.ca is reporting. Workers — rather than residents — were the apparent targets. The Royal Canadian Mounted Police are investigating, the publication reported. Whether the scheme was operating as a…
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In Asking Court To Reject Proposed Herbalife Class-Action Settlement, Objectors Point To Clawback Actions Flowing From Zeek Case
EDITOR’S NOTE: Clients of attorney Douglas M. Brooks object to the proposed Herbalife-class-action settlement on a number of grounds. This story focuses on only one of them: one that cites “clawback” actions flowing from the Zeek Rewards’ Ponzi- and pyramid case. The Zeek clawback actions underscore the litigation dangers MLM distributors may encounter after harrumphing…
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Did Internal Ponzi Cause Bramer Bank Of Mauritius To Crumble?
EDITOR’S NOTE: On May 10, 2012, on the news site of Zeek Rewards, the Rex Venture Group-operated “program” based in Lexington, N.C., announced it was moving part of its customer-service operation to Mauritius. Mauritius is an Indian Ocean island nation with a population of about 1.3 million. Zeek did not identify the Mauritius outsourcing company.…
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British Columbia Bans U.S. Resident From Securities Market, Says She Was Pushing Fraud Schemes For Commissions
The British Columbia Securities Commission, which regulates securities in the Canadian province, has banned a U.S. resident who allegedly promoted a series of schemes on commission. “Sharon Downing has admitted that she engaged in an illegal distribution of securities,” BCSC said. Downing, according to BCSC, promoted schemes for Thomas Arthur Williams and six entities engaged…
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SEC Declines Comment On ‘IntellaShares’ And Its Purported ‘BLACKLIST’; Ponzi-Board ‘Program’ Trades On Name Of Save The Children
UPDATED 11:31 A.M. EDT U.S.A. In 2010, the Federal Trade Commission took action against an online venture known as iWorks. This allegation appeared on Page 7 of the FTC’s Dec. 21, 2010 complaint: “They have also attempted to drive down their chargeback rates by threatening to report consumers who seek chargebacks to an Internet consumer…
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Two Former Federal Agents Involved In Silk Road Probe Were Bitcoin Thieves And One Was An Extortionist, Justice Department Says
UPDATED 8:33 P.M. EDT U.S.A. There must be some long faces at the U.S. Drug Enforcement Administration and the U.S. Secret Service today. That’s because two federal agents once assigned to a Task Force investigating the illicit Silk Road marketplace have been charged with federal crimes. Carl M. Force, 46, of Baltimore, was a DEA…