May 5, 2016 MLM & Affiliate Marketing News
Posted: 04 May 2016 05:39 PM PDT
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.
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.
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