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Investview: Crook Review

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Arrested on allegations of fraud in the recovery scheme is Investview CEO Joseph Cammarata. Cammarata and two other co-conspirators are also the subject of civil lawsuits brought by the SEC.

In 2019, Investview’s new CEO, Joseph Cammarata, was sworn in. On November 4th, he was taken into custody in Florida. ‘On accusations of conspiracy to commit multiple counts of fraud in connection with a securities fraud claims scheme,’ the DOJ announced that Cammarata, Erik Cohen, and David Punturieri had been indicted in the beginning of November.

Alpha Plus Recovery was the front for the “securities fraud claims scheme,” also known as a recovery scam. Alpha Plus Recovery was on the air from January 2014 to January 2021. Alpha Plus Recovery, in contrast to the recovery scams we often see in the MLM industry (promises of returns after payment), targeted civil cases brought against firms deemed to have breached securities law.

Following an agreement with the offending business; For practical reasons, settlements involving large numbers of damaged investors often involve significant sums of money. There are enormous sums of money to be split among a big number of investors even after legal costs and expenses have been paid.

The formulas laid down in settlement agreements determine who gets what. A court-approved third-party claims administrator is responsible for this process, which includes verifying claims made by victims.

Cammarata’s indictment, which was previously sealed; Clients who claimed to be entitled to settlements from securities class action and SEC enforcement action settlements were represented by Alpha Plus, a claims aggregator. There were two crucial elements that had to be proven by all claimants, including those represented by claims aggregators like Alpha Plus, in order to receive a settlement award. To begin, claimants had to show that they had purchased shares of the underlying security during the time frame specified in the court-approved settlement agreement that ended the securities class action case…

Second, plaintiffs had to demonstrate that their securities purchases had caused them harm. This scam involved Alpha Plus submitting false claim information to several claims administrators. David Punturieri, Erik Cohen, and Joseph Cammarata, among others… False claims were made in securities class action and SEC enforcement action settlements by creating what appeared to be independent entities, but were in fact owned or controlled by the defendants. False claims were made on behalf of these fake Alpha Plus clients, who claimed to be Alpha Plus clients.

Cammarata, Cohen, and Punturieri are all named in the indictment (quoted verbatim) created fictitious brokerage documents purporting to show purchases and sales of securities subject to class action and SEC enforcement action settlements; provided fictitious brokerage documents to claim administrators in order to materially mislead claims administrators about securities trading that had been purportedly done by supposed Alpha Plus clients.

The Alpha Plus recovery scheme netted Cammarata, Cohen, and Punturieri over $40 million between 2014 and 2021. One conspiracy count was included in their October 28th indictment, along with a request for forfeiture.

Cammarata was issued a bench warrant on the same day as the indictment was filed, originally sealed, according to the Alpha Plus case docket at the time of publishing. On November 4, Cammarata was taken into custody. Uncertainty surrounds Cohen and Punturieri’s futures.

The Department of Justice (DOJ) released a press release on November 3rd advising; Each defendant faces a maximum of 20 years in jail if found guilty. The Securities and Exchange Commission (SEC) began a series of civil fraud investigations on November 3rd. AlphaPlus Portfolio Recovery Group, Joseph Cammarata, Erik Cohen, David Punturieri, and Alpha Plus Recovery are all named as defendants in the SEC’s lawsuit.

According to the SEC’s allegations; Around $400 million was stolen from 400 distribution funds established as a result of securities class action settlements and enforcement proceedings by the Securities and Exchange Commission (SEC).

Defendants were either aware or careless in their failure to recognize the illegality of their strategy. The SEC’s lawsuit details the same conduct as the sealed indictment. However, the defendants’ discovered communication provides more context. When a Distribution Fund discovered that “fabricated trading records” were being used as an excuse, they fought back. Cammarata emailed Punturieri because Punturieri had not addressed the fund’s concerns. We’d been waiting a week for a response from the administration, and I woke up thinking about JAIL. Cammarata emailed Punturieri after one of Alpha Plus’ bogus clients, Nimello Holding LLC, acquired money through a fraudulent claim. It’s not too shabby…

The numbers may have been a little too conservative.

It is also revealed in the SEC’s complaint what Cammarata and his alleged co-defendants spent their ill-gotten gains on; In order to hide the money, they earned from bogus claims, the Individual Defendants set up a network of accounts. Personal costs, such as jewelry, home renovations, watercraft, and other real properties, such as Cammarata’s personal Caribbean island, were paid for by the Individual Defendants using the stolen assets.

The defendant’s assets were temporarily frozen by an order issued by the SEC on November 4th. Joseph and Nina Cammarata’s “estranged spouse” Nina Cammarata’s purported joint assets were included in the freeze. An intervention motion was filed on November 7 by Nina because she claims she was unaware of Joseph’s fraudulent actions.

Nina filed for divorce against Mr. Cammarata in New Jersey in August 2019 and served the lawsuit in July 2020 following a period of reconciliation. The dissolution of the marriage is still pending. “Sandy Cay” is a Bahamas island owned by the Cammaratas, along with two other properties in the Pocono Mountains of Pennsylvania and one in Monmouth Beach, New Jersey.

Nina’s principal abode is the Monmouth Beach house. It has a mortgage that requires $5,000 a month in payments to keep it afloat. Both during and after their marriage, Mr. Cammarata footed the bill for all expenses related to the other properties. It’s possible that Nina, as a co-owner of these houses, is jointly liable for these expenses, but she has no idea what they are or how they were paid. Without rapid access to the Joint Account, she may be injured and the Properties may be subjected to a variety of negative legal actions, including liens and foreclosure for non-payment of a mortgage, taxes and HOA fees, if she does not have fast access.

“A stipulated intervention and asset carve out” deal had been struck with Nina, according to a notice filed by the SEC on November 19. The granted TRO was extended to January 25th, 2022, following a ruling made on December 3rd. Investview, on the other hand, quickly retreated after learning of Cammarata’s imprisonment.

Announcing “interim management changes” the day after Cammarata’s arrest, Investview made the announcement on November 5, 2005. The CEO of Investview, Joseph Cammarata, and some of his business acquaintances have lately been charged with civil and criminal offenses, according to media reports. To ensure a thorough internal inquiry, Investview immediately removed Mr. Cammarata from his position and placed him on administrative leave while the company worked with independent legal counsel to investigate these allegations.

Investview was fully unaware of, and had no involvement in, any of these claimed legal actions attributed to Mr. Cammarata. Mr. Cammarata’s involvement with Investview began in December of 2019, to the best of the Company’s knowledge. This is a temporary position for James R. Bell, the interim CEO of Investview, because of the current conditions.

As a director of Investview since April 2020, Mr. Bell has been essential in overseeing the recovery of the company’s operations to profitability. It’s important to point you that Cammarata’s recovery fraud charges extend to his time at Investview.

A complaint filed with the Securities and Exchange Commission (SEC) details the most recent case of Alpha Plus fraud, which occurred on December 15th, 2020. The predicted Alpha Plus fraud range is based on a communication exchange that is expected to last through January 2021.

In any event, Cammarata had served as CEO of Investview for a year at the time. The SEC has filed a complaint alleging a slew of Alpha Plus frauds between now and the year 2020.

Investview’s claim of “operational return to profitability” is also worth mentioning. With Investview’s ongoing securities fraud, Kuvera Global and now iGenius, this is a perfect fit.

Investview has committed and continues to perpetrate securities fraud under the direction of Joseph Cammarata, on the pretext that they do not believe bitcoin is regulated. Investview’s social media outlets provide evidence of this point of view. The New York Post’s Charles Gasparino, for example, retweeted Investview on August 11th: “Unregulatable” crypto trading markets are a waste of SEC resources, according to Gasparino. It doesn’t matter if bitcoin is regulated or not when it comes to Investview’s securities fraud perpetrated through iGlobal. IGenius’ automated trading bot, iGenius, is at the center of a securities fraud investigation.

Securities fraud conducted through the use of cryptocurrency is not exempt from US securities laws. It all started with a $150,000 CFTC fraud settlement in 2018 for Investview. It was renamed Kuvera Global as a result of the controversy. Investview relaunched Kuvera Global as iGenius after suffering investor losses as a result of multiple Kuvera Global offers. On the best of all possible worlds an investigation into Investview’s fraudulent NDAU token securities fraud would begin with Joseph Cammarata’s arrest and subsequent extradition to the United States.

Outside of Cammarata’s leadership of both enterprises, there is no doubt Alpha Plus Recover was not an MLM organization. The SEC’s actions against Investview and iGenius may result in Cammarata’s cases being brought up.

I won’t be covering Cammarata’s case extensively. We will, however, continue to keep you informed of any noteworthy developments for the sake of documentation.

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Meta Utopia- Crook Review

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A few days ago, we put out its review of Meta Utopia.

“Metaverse” MLM crypto Ponzi scheme that isn’t very interesting on its own.

As part of our research, we found a link between Nicholas Coppola and the man who started the Ponzi scheme.

Or rather, he did it through an Instagram story that has since been deleted:

Coppola wasn’t happy about being linked to Meta Utopia in public, it turns out. He only wants to hide the fact that he is a crypto-bro Ponzi scammer.

Today, Nicholas Coppola joins the DMCA Wall of Shame.

Over the past 24 hours, “Dincer Odabasi” from “Copyright Support” has sent us two emails. Nicholas Coppola’s emails were sent on his behalf.

Copyright Support says on its poorly made website that it will

Negative or damaging news that can be found on the Internet and in Google search results should be taken down for good.

In his first email, Odabasi tries to pull the old “right to be forgotten” scam.

“Dear Madam,

Because of the right to be forgotten and because of the privacy clause, we want the content to be blocked.

We tried to get in touch with the website that posted the content, but we didn’t hear back. So, we give you the content and ask you to turn it off.

As everyone knows, according to the first paragraph of Article 9 of Law No. 5651 on the Regulation of Broadcasts Made on the Internet and Combating Crimes Committed Through These Broadcasts, if they can’t get to it, they can send a warning to the hosting provider and ask that the content be taken down.

Again, the second paragraph of the same article says that “the content and/or hosting provider must respond to requests from people who say their personal rights have been violated by the content of an online broadcast within twenty-four hours at the latest.”

We want the case that was filed on our behalf to be taken care of. Because of the European right to be forgotten and the privacy of private life, we have the right to limit access to content.

Please note that we’re asking you to take down the content because we’ve tried to reach the owner but haven’t heard back. That’s why we want and need you to take it down.”

This is a form letter that con artists send out. I know that because Odabasi put the same notice to Amazon from another email about a different website and client (ruhroh GDPR fail) into the body of the email he sent me.

In any case, the “Right to be Forgotten” law in Europe is used by scammers to hide their pasts, no matter how good the lawmakers’ intentions may have been at first.

The Right to be Forgotten is not part of EU law, so we don’t recognise it. Also, it takes four days from the date of publication until a right-to-be-forgotten takedown notice is sent.

Odabasi went on to say that Turkish law had something to do with the US, which was not true.

Due to the Right to be Forgotten and the USA Legal Content Removal Request Pursuant to Law No. 5651, we can’t take down the content we told you about because it’s in the Constitution.

“The Right to be Forgotten and the USA Legal Content Removal Request” is not a thing, even if that sentence makes no sense. It’s not true at all.

Turkey passed Law No. 5651 in the year 2020. It only happens in Turkey and has nothing to do with the United States.

Odabasi sent another email a few hours after the first one. This time, he threatened to take action because of copyright issues.

“We want you to remove any content that reveals personal information about our representative.

If you don’t get rid of the news content, we will file a copyright claim with your hosting company, Google.

I’d like you to put the story away, please.

Regards, 
TEAM OF SUPPORT FOR COPYRIGHT”

As our Policy says, we often use “third-party logos and images,” which is allowed by US copyright law through “fair use.”

We don’t need permission from the people who own the rights to the images we use in our MLM news and reviews. Period. 

The DMCA takedown process is being abused when fair use isn’t taken into account and a fake DMCA is filed. Not only will it not work, but the person who submitted it is lying.

Even though it’s clear that Copyright Support doesn’t care about the law, it’s still important to point out their hypocrisy.

Scam businesses like Copyright Support depend on the fact that the publisher or service provider they are after doesn’t know what they are doing.

Nicholas Coppola has publicly linked himself to Meta Utopia and is involved enough to be close to the Ponzi scheme’s founder, who has not yet been named.

It is not against any US law to publish this information with proof attached.

Update, July 2, 2022: Dincer Odabasi is now committing twice as much DMCA fraud as he was before.

Odabasi sent Google a “court order” on June 28 that says the same thing: “It’s against the law to search for scammers!” Stupid, but it also says this:

Based on the privacy clause of private life and the court document we will send you, we want the content to be taken down from publication and blocked from access.”

Odabasi is saying that a Turkish law is a “court document” that keeps scammers from telling the rest of the world. Oh dear.

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Laetitude- Crook Review

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Investors such as Laetitutde and Swapoo are circumspect on issues affecting investor wallets and active investments. 

According to a Latitude News report dated August 13th, You have gotten one or two emails from Swapoo in the past several days, which also affects our Laetitude members. 

Due to the continued strong relationship between Swapoo and Laetitude, we can guarantee that these changes will not affect your Laetitude accounts. Latitude will continue to operate as usual.   

The alterations made by Swapoo will have an effect on the wallet and the bots. However, we are aware that wherever there are obstacles and closed doors, new doors will emerge to provide opportunities for greater success. 

Swapoo is merely adjusting to the ever-changing regulatory environment and market situations.

The details of the e-mails sent are kept confidential. I have not encountered any examples in nature. 

Regarding “evolving regulatory landscapes,” Laetitude is a Ponzi scheme operated by Swapoo. 

David El Dib operates Laetitude from Dubai, the center of MLM fraud. Swapoo is run by Dave Martin, who is from the Philippines.El Dib and Martin have both established themselves on the BitClub Network. 

The investigation by the Department of Justice found BitClub Network to be a $722 million Ponzi scheme. The founders of BitClub Network were arrested in 2019. 

El Dib and Martin commit securities fraud and operate their own Ponzi scheme through Laetitude and Swapoo. The regulation of securities is not novel. For decades, every nation with a financial market has regulated securities fraud. 

The Ponzi fraud announced a remedy for lost Swapoo wallets in a follow-up “Laetitude News” post dated August 26;  

As you are likely aware, Laetitude no longer utilizes Swapoo for secure wallet services. As a result, we have recently implemented the ability to fund, purchase, and withdraw directly within Laetitude. 

In light of this, we would like to encourage you to login and withdraw your balance as soon as possible, and to continue withdrawing your balance as your compensation earnings increase. 

Laetitude lacks the two-factor authentication security offered by Swapoo, so it is essential that you protect your account with a formidable password. Again, what is occurring behind the scenes is kept secret. 

The only clue I could locate was a query posted two weeks ago on Swapoo’s most recent Instagram post. 

Swapoo has not published any new social media updates since July 30. This date also marked the last Facebook update posted by Laetitude. 

The lack of visitors to both Laetitude and Swapoo suggests that the Ponzi scheme is running out of money to pay investment withdrawals. 

The Philippine Securities and Exchange Commission is one of the most active securities regulators worldwide.

It is unclear whether they have anything to do with Swapoo’s issues.  

Whatever else is occurring, it is rare for wallets to be abruptly shut off and placed up as unsecured in-house assets. 

Keep up to date on any future developments.

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GSPartners- Crook Review

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GSPartners has dropped its claim of harassment against Chris Saunders. Saunders is the owner and operator of the YouTube channel Grit Grind Gold, which he uses to critique and report on the GSPartners Ponzi scheme. 

In late January 2021, Saunders was sued for harassment by owner Josip Heit and promoters Michael Dalcoe and Antonio (Tony) Euclides Menesis De Gouveia. 

Heit and the GSPartners Plaintiffs alleged that Sunders’ videos about the Ponzi scheme were defamatory. 

Additionally, Heit took offense when Saunders pointed out his position in Karatbars International’s collapsed KBC Ponzi scheme.  

GSB Gold Standard Corporation AG, Josip Heit, Michael Dalcoe, and Tony De Gouveia submitted a dismissal stipulation on July 29.  

Christopher Saunders, the defendant, executed a declaration in connection with the aforementioned case on July 29, 2022. 

Plaintiffs GSB Gold Standard Corporation AG, Josip Heit, Antonio Euclides Menesis De Gouveia, and Michael Dalcoe, by counsel and with the signature and agreement of counsel for Defendant Christopher Saunders, stipulate to the dismissal without prejudice of all claims in this matter pursuant to the Saunders’ Declaration.

The aforementioned stipulation from Saunders proves that he was granted permission. 

Mr. Ovidu Toma in relation to the Plaintiffs’ assertions and declarations. Since January 2020, Mr. Ovidu Toma has provided me with evidence of Mr. Harald Seiz’s alleged involvement in Karatbars’ wrongful conduct.   

“Ovidu Toma” refers to Ovidiu Toma, the former Chief Technology Officer of Karatbars International. 

Today, Toma serves as the CEO of CryptoData. Romania-based CryptoData sells encryption hardware. 

To return to Saunder’s assertion: I was aware, based on first-hand knowledge of facts and documents, that any alleged wrongdoing committed by Karatbars in relation to its Miami crypto bank and the issuance of KBC/KBC tokens was committed by Karatbars’ CEO, Mr. Harald Seiz, and that said wrongdoing was committed prior to any affiliation between Karatbars and GSB/Mr. Heit.

This is an odd concession to provide. Heit was the public face of Karatbars’ initial excursion into crypto-asset fraud. In an April 2019 interview, Seiz is referred to as a “major investor and board member” of Karatbars International. In Dubai, Karatbars was selling a “blockchain phone” at the time. When challenged about his remarks on the occasion, he responded, and I quote, ” You mentioned the KBC coin.

You stated that it is probable that it is one kilogram of gold. Is this truly a possibility? Heit reacted. Yes, of course it’s feasible. Nobody believes that many individuals perceive, at the appropriate moment, that they can join us.  

We currently have a market valuation of approximately $300 million as of the previous week or two weeks. And now there are about a billion of us.   

Is it not yet understood?  

And when the mainnet is implemented, which will occur very soon, within a few months we will have a market capitalization of over $200 billion. After months of Heit and Seiz promoting Karatbars’ KBC, the KBC Ponzi coin dropped 62% following the hype event on July 4, 2019. 

Heit, not Harald Seiz, was sent to address and explain the collapse to irate investors. KBC continued to leak throughout the subsequent months until it was eventually abandoned.

Heit had cashed out, left Karatbars, and launched his own Ponzi offshoot, GSPartners, before the end of 2019. The GSPartners Ponzi coins have performed no better than those of KBC.

G999 is supported by wash trading, which I believe is steadily depleting GSPartners’ second Ponzi scheme, LYS. G999 is being washed at approximately 0.002413. At $66.78, LYS continues to drain. 

GEUR was launched earlier this month as a result of the continuous failure of G999 and LYS to take off. GSPartners and Heit symbolize the euro-pegged GEUR currency. It is thought that GEUR was developed because GSPartners investors no longer desired to hold G999 and LYS. 

GEUR does not exist outside of GSPartners as of the publication date. GSPartners uses GEUR to support its most recent 300% ROI Ponzi scheme, metaverse certificates. 

In the event that GSPartners and Saunders achieved a settlement, it has not been made public. Other than wrongly saying that Heit was not involved in the Karatbars KBC scam, Saunders has not recanted any of his GSPartners-related statements.  

The court authorized the GSPartners plaintiff’s Stipulation of Dismissal on August 2nd. This concludes GSPartner’s harassment lawsuit against Saunders.

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