StaxCash Review: Making an ICO lending Ponzi even more insidious

December 31, 2017 mlmdetective 0

StaxCash provide no information on their website about who owns or runs the business.The StaxCash website domain (“stax.cash”) was privately registered on December 18th, 2017.As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.StaxCash ProductsStaxCash has no retailable products or services, with affiliates only able to market StaxCash affiliate membership itself.The StaxCash Compensation PlanStaxCash affiliates invest in STAX points, available for 50 cents to 95 cents each.STAX points are then “lent” back to StaxCash on the promise of a daily ROI of up…

USI-Tech enters third generation of scamming with Tech Coin ICO

December 31, 2017 mlmdetective 0

With forex recruitment all but dead and their bitcoin package ROI liabilities spiraled out of control, USI-Tech’s latest ploy to raise investment revenue is an ICO.Tech Coin will be another entry into the burgeoning MLM underbelly ICO market.Offering nothing new to the cryptocurrency space, Tech Coin is likely just another script-generated altcoin.Ultimately Tech Coin will serve no other purpose than to launder USI-Tech investor funds through, pocketing owners and big recruiters a large percentage of funds invested.If that sounds familiar it’s because practically everybody in the MLM underbelly is launching their own ICO.A common misconception across the MLM underbelly is that…

Mobe staff arrested in Malaysia for immigration violations?

December 31, 2017 mlmdetective 0

The MOBE website identifies a corporate address for Mobe LTD in Kuala Lumpur, Malaysia.According to recent footage released by Malaysia’s Immigration Department, officers raided a property in connection to MOBE and made immigration related arrests.The Immigration Department is part of Malaysia’s Ministry of Home Affairs.The department runs a fairly active Facebook profile, on which immigration news and footage of immigration raids are regularly posted.On December 21st the department published a post with the following message:A company that conducts business training services online, is found to have illegally employed foreign workers, to work professionally at the premises.A one-minute video clip is attached the…

Is Wealth Generators registered to offer securities through Investview?

December 29, 2017 mlmdetective 0

On the footer of the Wealth Generators website you’ll find the notice:Wealth Generators LLC is a wholly owned subsidiary of Investview (OTC:INVU)Investview is a Nevada corporation that actually operates out of Utah, run by Ryan Smith, Annette Raynor and Chad Miller and Mario Romano.In light of our recent report on Wealth Generators’ Crypto mining package investment offer, the assertion is that Investview being registered with the SEC makes it kosher.Today we dig into Investview’s SEC filings, in an attempt to answer whether Wealth Generators’ investment opportunities are indeed registered securities offerings.As per a press-release issued by Investview, Wealth Generators launched Crypto on…

Libra Coin Review: 110-240 day ROI MLM ICO lending Ponzi

December 28, 2017 mlmdetective 0

Libra Coin provide no information on their website about who owns or runs the business.The Libra Coin website domain (“libracoin.io”) was privately registered on November 17th, 2017.As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.Libra Coin ProductsLibra Coin has no retailable products or services, with affiliates only able to market Libra Coin affiliate membership itself.The Libra Coin Compensation PlanLibra Coin affiliates invest bitcoin in LBR points. LBR points are generated by Libra Coin and sold for 60 cents to $1 each.Once invested…

Now Mining Review: Official marketing arm for Genesis Mining?

December 28, 2017 mlmdetective 0

Now Mining claim to be based out of London in the UK but don’t appear to have any actual business operations there.Nothing comes up for “Now Mining” when you run a UK incorporation search on the company name.Additionally, no contact details are provided on the Now Mining website.The Now Mining website domain (“nowmining.com”) was privately registered on July 27th, 2017.Luis Ortega is identified as the company’s CEO.Ortega (right) appears to be based out of the US (Florida if I’m not mistaken), and doesn’t seem to have an MLM history.For all intents and purposes Now Mining appears to be operated from within…

Zeek Rewards net-winner clawbacks to be sold to debt collectors

December 28, 2017 mlmdetective 0

Despite launching some six years ago, net-winners who illegally profited in the Zeek Rewards Ponzi scheme are still being pursued for the money they stole.With determinations of who owes what finalized and a court ruling certifying the amounts legally binding, on December 20th the Receiver shared how the Receivership intends to enforce recovery.According to the Receiver,absent further settlements with the net winners with whom we have not yet settled, we will soon seek to sell the judgments against them to debt collection firms or engage such firms on a contingency basis.Through debt collection agencies, the headache of five years of litigation…

Wealth Generators Crypto Review: 1200 day altcoin mining contracts

December 27, 2017 mlmdetective 0

Despite the SEC making it clear that MLM cryptocurrency opportunities are not exempt from securities regulation, some companies don’t appear to have gotten the memo.One of those companies is Wealth Generators, who are currently gearing up to launch their “Crypto” mining contracts.Randy Schrum is a Wealth Generators affiliate who markets the opportunity through his “Occupy Wealth” branding.[7:50] We are Occupy Wealth. We are what we call “a movement”.We break down the barriers for financial wealth. I’m the founder.I’ve got to tell you now, I’ve been on this journey for the last several years and one of the things I’ve always looked…

TelexFree disputed victim claims resolution approved

December 27, 2017 mlmdetective 0

Back in October the TelexFree Trustee filed a proposal to resolve some 19,530 disallowed victim claims.Concerned that they might be potentially held accountable for more than they stole, net-winners objected to the Trustee’s proposal.The Trustee responded to these objections, asserting that net-winners had no say or standing in the victim claims process.On December 26th the Trustee’s proposals were signed off on, paving the way for claim resolution.As per the order, the Trustee is nowauthorized to send Participants who filed claims through the Portal established by the Trustee (the “Participant Claimants”) a Proposed Claim Allowance.This means that sometime in early 2018, TelexFree…

EigenCoin Review: 60 to 299 day variable ROI lending ICO Ponzi

December 26, 2017 mlmdetective 0

EigenCoin provide no information on their website about who owns or runs the business.The EigenCoin website domain (“eigencoin.co”) was privately registered on April 4th, 2017.As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money.EigenCoin ProductsEigenCoin has no retailable products or services, with affiliates only able to market EigenCoin affiliate membership itself.The EigenCoin Compensation PlanEigenCoin affiliates invest in EIGC points at a rate of 70 cents to $1.10 each.EIGC points are then “lent” back to the company on the promise of an advertised ROI:invest…