Category: regulation
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David Kagel Collapses En Route to Mind Capital Plea Hearing
On his way to his Mind Capital plea hearing, David Lee Kagel, a fraudster involved in the Mind Capital Ponzi scheme, collapsed. According to a May 13th entry in the minute records for Kagel’s court proceedings; [Kagel] lost consciousness in the elevator as he was headed to this hearing. Emergency medical technicians are currently tending…
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Horizok Pyramid Scheme Alert Issued in Russia
A cautionary note has been sounded in Russia concerning Horizok and its involvement in a pyramid scheme operation. According to the notification by Russia’s Central Bank on May 5th, Horizok shows “indicators of a financial pyramid”. TRUST scrutinized Horizok recently, identifying it as a “click a button” app-based Ponzi scheme. The facade Horizok presents is…
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Texas Issues Cease & Desist Against Arkbit & ABC Holdings for Securities Fraud
Arkbit Capital, Arkbit Capital Holdings, ABC Holdings, and ABC Mining have received an urgent cease and desist order for securities fraud from the state of Texas. Arkbit Capital surfaced as a Boris CEO run MLM cryptocurrency Ponzi setup in late 2022 Arkbit Capital Holdings operates as a facade organization linked to Arkbit Capital ABC Holdings…
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Upon SEC’s Request, iX Global Fraud Lawsuit Concludes
Pursuant to a petition from the SEC, the federal court has voluntarily dismissed the $49 million securities fraud lawsuit against iX Global and Debt Box. The dismissal was officially decreed on May 28th, mandating that the SEC cover costs. The blunder of the SEC in managing the iX Global lawsuit stems from representatives marking incorrect…
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Chogan Group Executives Detained for Financial Misconduct
Leading members of Chogan Group, including its originators, have been detained for “financial deceit, cleansing of monetary assets and self-cleansing, in addition to fiscal and insolvency offenses.” The operation named “Paradise World,” launched by the Italian enforcement agencies, culminated in four individuals being taken into custody this past week. Established in 2013, Chogan Group is…
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John Bigatton Admits to Bitconnect Fraud Allegations
Prominent Australian BitConnect representative John Louis Anthony Bigatton has conceded guilt to a legal accusation pressed by Government Prosecutors. On May 16th, Bigatton acknowledged guilt to a single charge of dispensing unlicensed financial services in another’s stead. According to a media announcement on May 17th from the Australian Securities and Investments Commission; Mr. Bigatton engaged…
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WDC Quantify Receives Alert for Securities Fraud from British Authorities
The UK’s Financial Conduct Authority (FCA) has issued a caution concerning securities fraud linked to WDC Quantify. According to the warning issued by the FCA on May 20th, WDC Quantify appears to be providing or endorsing financial services or products without our authorization. Engagement with this firm should be refrained from, and one should be…
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Ohio Issues Securities Fraud Cease & Desist to NovaTech FX Promoter
An individual promoting NovaTech FX has been served a cease and desist order for securities fraud by Ohio authorities. Steven Douglas Alexander from Cincinnati is named as a Respondent in the directive issued by the Ohio Division of Securities on March 22nd. The MLM crypto Ponzi operation NovaTech FX was established in 2019 by Cynthia…