PlanB4You Scam UpDate: Schabregs managed to evade authorities sentenced to three years in prison

PlanB4You was a Ponzi scheme launched in mid-2014 by Johny Schabregs. As per PlanB4You’s business model, affiliates invested €40 EUR on the promise of a €50 EUR ROI. In a rare show of force by European regulators, the ill-fated scheme was shut down by Dutch authorities a few months after launch. Schabregs managed to evade authorities [Continue reading…] Source: PlanB4You admin sentenced to three years in prison

The convicted swindler told his victims that he would invest the deposited money into projects that would achieve ‘sky-high returns”.

In reality, these promises were based on quicksand, and Schabregs merely enriched himself’, concluded the court.

He was apparently also arrested in the nick-of-time, with authorities revealing Schabregs continued PlanB4You despite being aware he was under criminal investigation. His arrest interrupted plans to move the scheme to Dubai or Bulgaria.

Both Dubai and Bulgaria have emerged as MLM underbelly hotspots over the past few years. Fraud regulation in both regions is virtually non-existent.

OneCoin, believed to be the current largest MLM Ponzi scheme, has ongoing operations in both Bulgaria and Dubai.

Despite OneCoin being very publicly run out of Bulgaria, to date Bulgarian authorities have not indicated they are investigating the scheme.

Read the full article and join in the discussion over at BehindMLM.