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OneCoin promoters arrested in Singapore, regulatory warning

April 10, 2019, 2:29 am
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Two OneCoin promoters have been arrested in Singapore, on the charges related to “pyramid selling”. According to a report by Rachel Mui from the Business Times, the arrests are the first of their kind in Singapore. The Commercial Affairs Department has stated that OneCoin is a “fraudulent cryptocurrency”. Local residents participated in the scheme by [Continue reading...] Source: OneCoin promoters arrested in Singapore, regulatory warning

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4Wealth Resources Review: Precious metals pyramid scheme

April 10, 2019, 10:00 pm
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4Wealth Resources provides no information about who owns or runs the business on their website. In fact as I write this, the 4Wealth Resources is nothing more than a compensation pitch with a sign up form. I did not a hosted 4Wealth Resources marketing video is narrated by “Dave”, but wasn’t able to ascertain who [Continue reading...] Source: 4Wealth Resources Review: Precious metals pyramid scheme

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Cloud Horizon Review: SiteTalk and Orientum scams combined

April 11, 2019, 7:28 am
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Cloud Horizon operates in the MLM cryptocurrency niche and claims it is incorporated in the Cayman Islands. On the management side of things Cloud Horizon discloses it is ‘wholly owned (by) Mr. Frank Ricketts who is the actual CEO of the company‘. Rickett’s MLM claim to fame is Unaico and SiteTalk, a combination of investment and [Continue reading...] Source: Cloud Horizon Review: SiteTalk and Orientum scams combined

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Faith Sloan settles SEC’s $1.2 million TelexFree fraud case

April 11, 2019, 7:14 pm
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With the clocking ticking down towards her TelexFree trial, now news that Faith Sloan has reached a settlement with the SEC. In an April 3rd joint filing, the SEC moved for a continuance of Sloan’s May 13th trial date. The regulator claims it has ‘arrived at a settlement in principle to settle the Commission’s claims [Continue reading...] Source: Faith Sloan settles SEC’s $1.2 million TelexFree fraud case

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GTI-Net Ponzi confirmed, reboots as Global Technology Innovation

April 12, 2019, 8:02 pm
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GTI-Net lost its appeal against an investment fraud warning issued by Belgium’s Financial Services and Markets Authority (FSMA). The company responded by “shutting down”, only to reboot itself with a new name and website. The FSMA issued its warning in November 2017. In the warning the regulator made two primary points; that GTI-Net was “not [Continue reading...] Source: GTI-Net Ponzi confirmed, reboots as Global Technology Innovation

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Envy TV Review: $49.97 a month for access to pirated content

April 13, 2019, 10:00 pm
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Envy TV operates in the streaming MLM niche. Instead of an actual corporate address, Envy TV provides a virtual office address in Nevada on its website. Cited as co-founders of Envy TV are Clay Sampson and Eddie Freeman. Beyond names however Envy TV fails to provide any information on either founder. My own research lead [Continue reading...] Source: Envy TV Review: $49.97 a month for access to pirated content

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Utopian Global Review: Swiss Gold Global scam reboots into crypto

April 14, 2019, 5:57 am
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Utopian Global provides no information on its website about who owns or runs the business. What Utopian Global does provide is the claim the company was “founded in 2008”. This is pretty obviously not true, considering the company website was only registered in October, 2017. Alexa registered measurable traffic to Utopian Global’s website from January [Continue reading...] Source: Utopian Global Review: Swiss Gold Global scam reboots into crypto

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Global Game Arena collapses, admins pull compliance exit-scam

April 15, 2019, 2:13 am
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The Global Game Arena Ponzi scheme has collapsed. Rather than admit they’ve run out of money though, GGA’s admins are blaming affiliate investors. As if blaming investors (most of whom are victims) wasn’t bad enough, GGA is hiding its collapse behind imaginary compliance. BehindMLM reviewed Global Game Arena not even a fortnight ago. Run by [Continue reading...] Source: Global Game Arena collapses, admins pull compliance exit-scam

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LEO a Ponzi scheme in Pakistan, SEC shuts down shell company

April 15, 2019, 2:56 am
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A few weeks back I came across news that the Pakistan SEC had shut down ‘at least nine companies dealing in cryptocurrencies and offering Ponzi/MLM, referral marketing, pyramid business/schemes‘. Although this was MLM related news, I didn’t recognize any of the company names and so left it at that. A reader has now informed me [Continue reading...] Source: LEO a Ponzi scheme in Pakistan, SEC shuts down shell company

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AloeVeritas selling expired product from Germany?

April 15, 2019, 6:29 pm
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AloeVeritas appear to be selling expired Drink Gel product in the US, dating as far back as July 2017. Before launching in the US in late 2017, AloeVeritas initially launched as a German MLM company in 2016. The company markets itself on the slogan “Care, which simply makes your life better. Natural. Honest. Fair.” Judging [Continue reading...] Source: AloeVeritas selling expired product from Germany?

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Pure Review: Genesis Pure survives Lindsey Duncan

April 16, 2019, 7:44 am
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Pure began as Genesis Pure, an MLM company launched in 2009. Heading up Genesis Pure was CEO and Chairman Lindsey Duncan, until the FTC went after Duncan for fraud in 2014. In the wake of the FTC’s lawsuit, Genesis Pure scrubbed any mention of Duncan from their website. Duncan settled the FTC’s allegations for $9 [Continue reading...] Source: Pure Review: Genesis Pure survives Lindsey Duncan

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Tonga issues WorldVentures pyramid scheme warning

April 16, 2019, 8:46 am
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The National Reserve Bank of Tonga has issued a warning against participation in WorldVentures. WorldVentures’ business model sees the company sell travel related services to retail customers on the front-end. On the back-end, where most of the sales revenue is generated, WorldVentures affiliates are paid to recruit. The Reserve Bank of Tonga claims WorldVentures is [Continue reading...] Source: Tonga issues WorldVentures pyramid scheme warning

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Why TelexFree victim distribution payments are taking so long

April 16, 2019, 7:08 pm
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There’s probably no group more salty in MLM  right now than TelexFree victims with approved claims. The TelexFree claim portal went live back in mid 2016. Almost three years later, not one distribution payment has been made. Now, a Status Report filed by the Trustee on April 12th, provides insight into why. Not surprisingly, while [Continue reading...] Source: Why TelexFree victim distribution payments are taking so long

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30 Day Success Formula Review: Two-tier cash gifting mail fraud

April 18, 2019, 2:12 am
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The 30 Day Success Formula provides no information about who owns or runs the business. The 30 Day Success Formula website domain (“30daysuccessformula.com”) was privately registered on May 20th, 2017. Despite the age of the domain, 30 Day Success Formula itself only recently relaunched. Looking at archived copies of the 30 Day Success Formula website, [Continue reading...] Source: 30 Day Success Formula Review: Two-tier cash gifting mail fraud

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Young Living pyramid cult RICO class-action filed in Texas

April 18, 2019, 6:31 pm
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A new class-action filed in Texas accuses Young Living of operating as an illegal pyramid scheme cult. The lawsuit, filed by Julie O’Shaughnessy, also claims Young Living is a front for “selling essential oils for quasi-medicinal purposes”. According to O’Shaughnessy, hundreds of thousands of potential class members have collectively lost thousands of dollars participating in [Continue reading...] Source: Young Living pyramid cult RICO class-action filed in Texas

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RB Global Crypto Bank implements hard ROI withdrawal limits

April 18, 2019, 7:03 pm
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Evidently the RB Global Crypto Bank RBGC exit-scam isn’t liquidating ROI liabilities fast enough, prompting Laurie Suarez to implement hard withdrawal limits. RB Global Crypto Bank’s latest email details twenty-five cryptocurrency withdrawal limits, of which probably the first few are of relevance. 0.2 BTC 12 LTC 6 ETH 3 BCH RBGC is at the bottom [Continue reading...] Source: RB Global Crypto Bank implements hard ROI withdrawal limits

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Kuvera Global’s Capital City Markets missing funds scam continues

April 18, 2019, 8:29 pm
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Last year Kuvera Global was soliciting investment into the Ryze AI trading bot. The company’s broker of choice was Capital City Markets. Almost a year on from the CFTC clamping down on Investview, Kuvera Global’s parent company, affiliate investors still have funds tied up in Capital City Markets. Capital City Markets is a Vanuatu shell [Continue reading...] Source: Kuvera Global’s Capital City Markets missing funds scam continues

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RB Global Crypto Bank admin spills beans, website down

April 19, 2019, 7:03 pm
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The RB Global Crypto Bank fallout continues, with a former admin now spilling the beans on Laurie Suarez’s fraud. Daryl Grigg was high enough in RB Global Crypto Bank to feature on the company’s “about us” page. He also had access to the company’s official Facebook group, which he briefly took possession of earlier today. [Continue reading...] Source: RB Global Crypto Bank admin spills beans, website down

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Cloud Token Review: Another mobile app crypto Ponzi scheme

April 19, 2019, 10:00 pm
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Cloud Token’s website provides no information about who owns or runs the company. The Cloud Token website domain (“cloudtokenwallet.com”) was privately registered on January 27th, 2019. Marketing videos on the Cloud Token website are presented in Chinese. The videos themselves feature a man speaking Chinese. In one marketing video, Sheng Zhao and Simon Tran are [Continue reading...] Source: Cloud Token Review: Another mobile app crypto Ponzi scheme

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Poland offers to file charges against OneCoin scammer, seeks victims

April 20, 2019, 5:21 am
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If you’re a OneCoin victim in Poland, you might be able to recover your losses via criminal proceedings. The Szczecin District Prosecutors Office has offered to go after OneCoin scammers. They just need victims to speak up. The Szczecin Prosecutors Office made their offer on April 19th, under Article 131, Section 2 of the Polish [Continue reading...] Source: Poland offers to file charges against OneCoin scammer, seeks victims

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