Obinna Obioha, age 31, and a citizen of Nigeria, was sentenced to serve 51 months in prison for operating a fraud scheme that stole millions of dollars from businesses in the United States and other countries. The announcement was made by Acting United States Attorney Grant C. Jaquith and Vadim […]
Acting United States Attorney Gregory G. Brooker announced the sentencing of Colin Chisholm Alexander, 65, to 48 months in prison for stealing more than USD2.1 million from victims by convincing them they were investing in a television network when in fact, Chisholm was using the funds for his own personal […]
The Chicken might be coming home to roost for OneCoin in the United Kingdom as the London Police might have gone ahead to arrest a OneCoin scammer in a ‘boiler room’ he allegedly set up. London Police said in a statement that they had arrested a man was arrested on […]
China might join the league of countries clamping down hard on Ponzi schemes and other dodgy investment companies luring unsuspecting members of the public to losing their funds. China’s regulatory authority said it will further investigate Ponzi scheme activities across the country. The government said in a statement that: “Recently, […]
It appears the chicken has finally come home to roast as investors in Floral Investment have cried foul having lost millions of Naira to the Ponzi scheme. The company is basically a pyramid scheme which says it is involved in flower business. Apparently, the scheme has eventually collapsed. However, just […]
Few days after Italy fined its One Life Network USD2.5 million for misleading investors, OneCoin has come out with a response to the fine. As expected, OneCoin went ahead to deny every bit of its activities and Ponzi frauds it carries out in Italy and many other countries. The scheme […]
OneCoin, the infamous Ponzi scheme marketed as a digital currency has gotten attention in Mauritius. The Bank of Mauritius has raised a fraud alert and stern warnings about the Ponzi scheme to its financial markets and its society at large. The Bank of Mauritius washed off its hands in a […]
For many people who have invested Floral Investment, the chicken might just have come home to roast. Owners of the scheme in far away Dubai have shut them out. Apparently, Floral Investment, a Ponzi scheme disguised as a flower trading company with investment opportunities has eventually collapsed. However, just as […]
OneCoin, the infamous pseudo-digital currency has just been fined another EUR2.5 million by Italy’s Competition Authority for carrying out deceptive promotional campaigns in the country. This is yet another hammer hitting OneCoin, a Ponzi scheme disguised as a cryptocurrency. OneCoin is owned by OneLife Network, a multi-level marketing organisation that […]
The Nigerian National Petroleum Corporation, NNPC, said a certain recruitment scam purportedly carried out by the corporation is being perpetrated on the Internet. The NNPC in a stern statement said it is dissociating the corporation from the recruitment scam and any exercise currently advertised on social media and blogs. A […]