Pyramid Scheme - Going Public Lawyers

Steven Labriola Receives Final Judgement

On July 14, 2017, the Securities and Exchange Commission (“SEC”) announced that it has obtained a final judgment in a fraud case against Steven Labriola, the international sales director of a pyramid scheme targeting Latino communities. The final judgment, entered on… Read More

President of TelexFree James Merrill Pleads Guilty to Running Pyramid Scheme

On October 24, 2016, James M. Merrill, of Ashland, Massachusetts, the former president of TelexFree, Inc. and TelexFree, LLC, pled guilty to criminal charges related to his operating a pyramid scheme through TelexFree. On May 9, 2014, Merrill… Read More

Court Enters Final Judgment in Wings Network Pyramid Scheme Case

A federal court in Boston, Massachusetts, recently entered final judgments by consent against six defendants in an ongoing enforcement action filed by the Securities and Exchange Commission (“SEC”) in February 2015. The SEC charged two Portuguese companies operating… Read More

Pyramid Schemer Sanderly Rodrigues Incarcerated for Violation of Court Order

The Securities and Exchange Commission (SEC) announced that Sanderley Rodrigues de Vasconcelos (“Rodrigues”) of Davenport, Florida, who is charged with promoting a pyramid scheme, was ordered to jail for civil contempt arising from his repeated violations of Court… Read More

Court Enters Final Judgment Against eAdGear and Its Operators

The Securities and Exchange Commission (SEC) announced that on February 1, 2016, the Honorable Richard Seeborg of the United States District Court for the Northern District of California entered final judgments against defendants eAdGear Holdings Limited, eAdGear, Inc.,… Read More

SEC Files Suit Against Promoter of ZeekRewards

  On December 4, 2015 the Securities and Exchange Commission (SEC) filed suit against Trudy Gilmond for her participation in the unregistered offer and sale of securities through Rex Venture Group LLC d/b/a ZeekRewards.com, an internet-based combined Ponzi… Read More

Court Enters Final Judgment Against Tropikgadget In Pyramid Scheme

On November 12, 2015, a federal court in Boston, Massachusetts, entered a final judgment against Tropikgadget FZE and Tropikgadget Unipessoal LDA (collectively, “Tropikgadget”) of Portugal, defendants in a previously-filed enforcement action. In February 2015, the SEC charged Tropikgadget operating under the… Read More

SEC Charges Steve Chen With Fraud and Imposes Asset Freeze

On September 22, 2015, the Securities and Exchange Commission (SEC) filed, under seal, fraud charges and, on September 28, obtained asset freezes against the operator of a worldwide pyramid scheme that falsely promised investors would profit from a… Read More

$32 Million Amber Mining Pyramid Scheme Halted by the SEC

  On October 1, 2015, the Securities and Exchange Commission (“SEC”) announced it had frozen the assets and filed fraud charges against the operator of a worldwide pyramid scheme who falsely promised investors that they would profit from a… Read More

SEC Obtains Final Judgement Against Julio Cruz for Targeting Latino Communities with Pyramid Scheme

On September 17, 2015, the Securities and Exchange Commission (SEC) announced that on September 16, 2015, the federal court in Boston, Massachusetts, entered a final judgment against defendant Julio Cruz of Duluth, Georgia, a defendant in a previously-filed… Read More