Massachusetts Securities Division
PP Blog Tag archives on references to "Massachusetts Securities Division."
SPECIAL REPORT: We’re Like ‘A Ride At Disney World,’ Achieve Community Cycler Bizarrely Claims
UPDATED 11:39 A.M. ET DEC. 12 U.S.A. In its latest effort to expand its reality-distortion field, “The Achieve Community” money-cycling “program” that tells prospects a $50 “position” increases by a factor of eight and turns into $400 in a few months (or even in as few as 55 days) has compared itself to The Walt […]
RECOMMENDED READING: Two Stories/Threads At BehindMLM.com On ‘The Achieve Community’
We recommend these two stories/Comments threads at BehindMLM.com on “The Achieve Community.” Access the first here. Access the second here. BehindMLM.com covers emerging MLM fraud schemes. Naturally the site separates some MLMers from their senses because it so neatly debunks cover stories and magical constructions that have helped MLM scams trading on the Internet thrive […]
BULLETIN: Zeek-Like Situation Surfaces In TelexFree Case — Dishonored Cashier’s Checks; Trustee Seeks Authority To Subpoena Banks, Including Bank In Puerto Rico
BULLETIN: The court-appointed trustee in the TelexFree bankruptcy case is seeking authority to issue subpoenas and obtain information from eight financial institutions, including Puerto Rico-based Oriental Bank. The other seven are Digital Federal Credit Union, based in TelexFree’s headquarters city of Marlborough, Mass., Bank of America, JPMorgan Chase, Citizens Bank, Santander, TD Bank and Wells […]
Nevada Isssues Warning On Wings Network MLM ‘Program’; Says It Is Being Sold ‘Door-To-Door’ And Is Targeting Spanish And Portuguese
As the PP Blog reported on May 15, Massachusetts Commonwealth Secretary William Galvin sued the Wings Network MLM “program” and some of its promoters, alleging securities violations and a “thinly veiled pyramid scheme” targeting minority communities. Now, Nevada Secretary of State Ross Miller has published a warning on Wings Network, saying the online “program” even […]
URGENT >> BULLETIN >> MOVING: Massachusetts Charges 4 Alleged Promoters Of EmGoldEx Scheme, Saying ‘Program’ Was Fraud And That Hucksters Stacked Children In Downlines
URGENT >> BULLETIN >> MOVING: (14th Update 4:33 p.m. EDT U.S.A.) Massachusetts has charged promoters of the EmGoldEx MLM “program” with securities fraud and selling unregistered securities, alleging they “created a complex web entangling investors throughout the Commonwealth” in a “pyramid scheme” that offered “guaranteed returns of up to 1,105% for recruiting more individuals.” The […]
Email Address In Faith Sloan’s DMCA Complaint Against BehindMLM.com Appears In 2010 Promo About Purported $10,000 Payout From Matrix Cycler; ‘You Can Do That Over And Over Again,’ Veteran HYIP Huckster Claims
The Gmail address used by TelexFree figure Faith Sloan in a Sept. 23 DMCA takedown notice filed against BehindMLM.com appears below a 2010 video promo for a “program” known as “Diamond Holiday Feeder,” part of a larger “program” purportedly engaged in the travel business while also operating a matrix cycler. Matrix cyclers sometimes are known […]
URGENT >> BULLETIN >> MOVING: Massachusetts Issues Warning On ‘IFreeX’ Scheme; ‘iFreex Appears To Be Nothing More Than A Rebranded TelexFREE Fraud For Mobile Phones’
URGENT >> BULLETIN >> MOVING: Massachusetts Commonwealth Secretary William Galvin has issued a warning on an emerging scheme known as “IFreeX.” Like TelexFree before it, IFreeX is being pitched by two-time SEC pyramid-scheme defendant Sann Rodrigues and is being targeted at the Brazilian community. Rodrigues also is known as Sanderley Rodrigues de Vasconcelos, and individuals […]
TelexFree Website Will Not Load
EDITOR’S NOTE ADDED 1:32 P.M. EDT SEPT. 28 U.S.A. TelexFree.com appears to be back online. At this time, why the landing page wouldn’t load remains a mystery. Our earlier story is below . . . The website of TelexFree, alleged in April by the SEC and the Massachusetts Securities Division to have operated a billion-dollar […]
URGENT >> BULLETIN >> MOVING: SEC Calls Zhunrize MLM Company Worldwide ‘Pyramid Scheme’ That Gathered More Than $100 Million
URGENT >> BULLETIN >> MOVING: (8th Update 6:56 p.m. EDT U.S.A.) The SEC has gone to federal court in the Northern District of Georgia, alleging that the Atlanta-based “Zhunrize” MLM program is a pyramid scheme that operates globally and has gathered $105 million from 77,000 investors. The Zhunrize “program” has been charged with fraud. It […]
BULLETIN: Massachusetts Bank For TelexFree Settles With Securities Division For $3.5 Million; All Settlement Proceeds Will Go To Victims In The State; Bank Will Establish ‘Massachusetts Victim Relief Fund’
BULLETIN: (3rd Update 1:34 p.m. EDT U.S.A.) A Massachusetts bank that established accounts for TelexFree and whose president is the brother of alleged TelexFree Ponzi- and pyramid-schemer James Merrill has settled with the Massachusetts Securities Division for $3.5 million. The settlement between MSD and Fidelity Co-operative of Fitchburg means that an escrow account consisting of […]
BULLETIN: MLM Attorney Jeffrey Babener Told TelexFree It Was Operating Pyramid Scheme Months Before Collapse, But MLM ‘Program’ Continued To Collect Money, Bankruptcy Trustee Says
BULLETIN: (2nd Update 5:26 p.m. EDT Sept. 16 U.S.A.) The court-appointed trustee in the TelexFree bankruptcy case says in court filings that MLM attorney Jeffrey Babener advised TelexFree in August 2013 that it was operating a pyramid scheme. TelexFree nevertheless continued to collect money, Trustee Stephen B. Darr said. Just two months earlier — in […]