Mark Steven Diamond, 67, Chicago, Illinois, pleaded guilty today to a federal fraud charge for bilking elderly homeowners in a home repair and reverse mortgage scheme. Diamond schemed with others to induce homeowners to unwittingly obtain reverse mortgage loans to pay for purported home repairs that Diamond offered to perform. Diamond and the co-schemers targeted […]
Debon does not disclose any ownership or executive details on its website.
The domain for Debon’s website, “debanggroup.com”, was initially registered in 2016, with the most recent private registration update occurring on June 21, 2024, which coincides with Debon’s apparent launch date.
Despite being relatively new, Debon misleadingly claims on its website that it was “founded in 1996.”
Skainet Systems fails to provide ownership or executive information on its website. Skainet Systems’ website domain (“skainetsystems.com”), was privately registered on April 9th, 2024. Courtesy of internal marketing, one name we can attach to Skainet Systems is Michael Baur. As above, Baur is Skainet Systems’ Chief Marketing Officer. I’ve also seen Baur credited as Skainet [Continue reading…]
Source: Skainet Systems Review: AI trading bot ruse Dubai Ponzi
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On April 20, 2022, the Public Prosecution Service of Portugal initiated an investigation into Banco Espirito Santo (BES) for corruption and submitted a Mutual Legal Assistance Treaty (MLAT) request to Switzerland.
The prosecution has raised serious allegations, including bribe payments, money laundering, forging of documents and criminal association. Central to this investigation is Canaima Finance Ltd, a shell company registered in Panama and controlled by Rafael Ramirez, which allegedly received €47 million in bribes from BES.
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The pardon granted to Alex Saab by Joe Biden has stirred considerable backlash among certain groups. Critics argue that such leniency would not have occurred under Donald Trump’s administration. They seem to overlook the fact that Trump had approved a strategy to depose Nicolas Maduro, spearheaded by Raul Gorrin, and that his National Security Council essentially provided an immunity agreement to Rafael Ramirez, recognized as one of the most corrupt figures within chavismo. Additionally, people have seemingly forgotten how Rudy Giuliani, Trump’s lawyer—now disgraced and bankrupt—successfully persuaded Attorney General Bill Barr to let Alejandro Betancourt evade consequences.
Craig Shawn Williamson’s ResClub investment scheme has collapsed. Following ResClub, Williamson has gone on to launch 8ghtX and GoBingo For Hunger. BehindMLM reviewed ResClub in September 2022. While we weren’t 100% on ResClub being a Ponzi scheme, it was a clear-cut case of securities fraud. ResClub saw Williamson solicit minimum $5000 investments on the promise [Continue reading…]
Source: ResClub collapses, 8ghtX & GoBingo For Hunger reboots
The U.S. Department of Justice released this on April 8: “U.S. Attorney Damian Williams stated, “As a senior member of the Venezuelan military and a part of the Cártel de Los Soles, Clíver Antonio Alcalá Cordones and his associates aimed to use cocaine as a weapon while assisting the FARC in arming its members and transporting large quantities of drugs to the United States. Alcalá Cordones undermined the essential institutions of his own nation as he facilitated the influx of cocaine into this country — but that is no longer the case. He will now serve over twenty years in a U.S. prison.” Cliver Alcalá was a key figure in the inner circle established by Hugo Chavez to manage international affairs. The Bolivarian revolution openly aligned itself with criminal and narcoterrorist groups. Alcalá’s involvement with Colombia’s FARC has been well-known among Venezuela analysts for many years; however, his actions were not isolated. Alcalá was not a particularly progressive military leader who believed that aiding FARC was his destiny or a route to his own enrichment.
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TelexFree attorney Gerry Nehra has settled with the TelexFree class-action. Nehra, through the now defunct firm Nehra and Waak, is best known in the MLM industry for rubber-stamping TelexFree’s $3 billion Ponzi scheme. Nehra’s class-action settlement cites him as TelexFree’s “US outside legal counsel”. WHEREAS, Nehra communicated and facilitated communication between TelexFree and other Defendants, [Continue reading…]
Source: Gerry Nehra settles with TelexFree class-action
The fight against money laundering is high on the international community’s agenda. In a groundbreaking initiative, seven major banks, including Barclays, Lloyds, and NatWest, are sharing customer data with the UK’s National Crime Agency (NCA) to combat organized crime, fraud, and money laundering. This project is the largest of its kind globally and aims to curb the flow of illicit funds through Britain, Reuters reports.
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A recent report by TRM Labs reveals that Russian-speaking ransomware groups were responsible for the majority of crypto-ransomware attacks in 2023, highlighting the extensive use of cryptocurrency for illicit activities in Russia. According to the report, Russian-speaking ransomware groups accounted for at least 69% of all crypto proceeds from ransomware in 2023, totaling over $500 million.
TelexFree executive Steven Labriola has settled with the TelexFree class-action. As per the terms of Labriola’s settlement, no money will change hands but Labriola has committed to full cooperation. Labriola’s settlement excluding a monetary component is based on Labriola unequivocally represent[ing] that, other than fees for services performed from 2012 through 2014, he directly and [Continue reading…]
Source: Steven Labriola settles with TelexFree class-action
In a surprising leadership change, Swiss private bank Julius Bär has announced the appointment of Stefan Bollinger, a partner at Goldman Sachs, as its new CEO. Bollinger will take over the traditional Zurich-based private bank no later than February 1, 2025, following a challenging period marked by substantial financial losses and executive departures. According to Google Trends, the name Stefan Bollinger was one of the most frequently searched terms on Tuesday.
Monthly training and service fees are acceptable unless used to inflate a company’s compensation plan. When fees are integrated into commissions without a real market, it resembles a pyramid scheme. Regulators are cautious about such practices.