BANGKOK (Reuters) - Thai police have arrested 18 people and seized luxury goods after receiving nearly 5,600 complaints about an alleged pyramid scheme, saying on Monday they estimate investors have lost at least 1.61 billion baht ($48 million). The Central…[Continue Reading...]
Police have impounded four more luxury vehicles from two key suspects in the alleged The iCon Group scam as the number of registered victims rose to 4,743 people with damage estimated at 1.4 billion baht. The Consumer Protection Police Division…[Continue Reading...]
Authorities have urged damaged parties to come forward and file complaints against suspects in the scandal engulfing The iCon Group as investigations continue into allegations that it ran a pyramid scheme. While 18 suspects including the company's CEO and founder…[Continue Reading...]
A federal grand jury in the Eastern District of Texas returned an indictment yesterday charging a Texas couple for operating an illegal pyramid scheme that defrauded thousands of participants of more than $10 million. According to court documents, LaShonda Moore,…[Continue Reading...]
A “Secret Santa” around the office or with friends can be fun. A gift exchange among online friends you haven’t met is different and carries a heftier consequence. While they look like innocent fun, they are pyramid schemes and illegal.…[Continue Reading...]
The liquidators handling the Mirror Trading International pyramid scheme have confirmed that they plan to start returning funds to victims as soon as they get a court ruling on how they need to handle claims. Speaking to RSG Geldsake with…[Continue Reading...]
The fraudulent investment program known as a Ponzi scheme entices investors with the promise of extremely high profits. The Ponzi scheme is named after Charles Ponzi, who gained popularity in the early 20th century for employing this method. It operates…[Continue Reading...]
The Colombo South Division Criminal Investigation Bureau has revealed that a complaint by a Chinese national that a group of people broke into his house located on Borella Lake Drive Road and robbed him was bogus. The 38-year-old Chinese businessman,…[Continue Reading...]
The Prosper DJ and his wife who orchestrated a “blessing loom” pyramid scheme that targeted the Black community have been ordered to pay $10.76 million and will be banned from operating multilevel marketing operations. The Texas attorney general’s office said…[Continue Reading...]
Arkansas Attorney General Tim Griffin announced Wednesday a $450,000 settlement in a lawsuit against a Texas-based company which his office and the Federal Trade Commission have accused of operating as an illegal pyramid scheme. The settlement in federal court places…[Continue Reading...]
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