pyramid scheme News

SEC Sues Over Alleged $650 Million Global Crypto Fraud

The U.S. Securities and Exchange Commission on Monday sued the cryptocurrency company NovaTech and its married co-founders, saying they fraudulently raised over $650 million from more than 200,000 investors worldwide, including many Haitian-Americans. NovaTech and co-founders Cynthia and Eddy Petion …

Distributors Who Didn’t Get Rich Sue Herbalife Over ‘Circle of Success’ Events

Patricia and Jeff Rodgers figured they did everything right to get rich beyond their wildest dreams selling Herbalife health and personal care products. They attended all of the “Circle of Success” events, brought in new recruits, met their quotas on …

California Judge Tosses Pyramid-Scheme Suit Against Herbalife

A California judge dismissed a lawsuit by Herbalife shareholders who claimed that the business structure and marketing practices of the weight loss and nutritional supplements company violated the law and that they lost money because it amounts to a pyramid …