Preliminary injunction granted against Ryan Maasen (BitConnect)

February 28, 2018 0

A preliminary injunction has been granted Ryan Maasen in the filed Kentucky BitConnect class-action lawsuit.For those keeping track this is the Paige lawsuit, filed in Kentucky on January 29th.A Temporary Restraining Order was previously in effect, now replaced by the preliminary injunction granted on February 26th.As per the preliminary injunction and based on submitted evidence, the court foundBrian Paige (plaintiff) and the Class has shown a strong likelihood of success on the merits of their claims for violations of Federal securities law, Kentucky security law, breach of contract and fraudulent inducement.The entry of a preliminary injunction against Ryan Maasen is in…

Master Distributors sue Nerium International for over $100 million

February 28, 2018 0

Mark and Tammy Smith aren’t just top earners in Nerium International, they’re the top earners.As Master Distributors of the company, Mark and Tammy Smith were held up as posters of Nerium’s success.As of late 2014, Ted Nuyten’s BusinessForHome clocked the Smith’s at $9 million career earnings and around $2.4 million in commissions annually.That makes their $100 million dollar plus lawsuit against Nerium International all the more interesting.Mark and Tammy Smith’s lawsuit was filed on February 23rd and names Nerium International, JO Products LLC (JOP) and Jeff Olson as defendants.Jeff Olson (right) is the Founder and CEO of Nerium International. He is also…

Foru International Review: DNA kits providing “personalized nutrition”?

February 28, 2018 0

Foru International operate in the health and nutrition MLM niche and began as GeneWize Life Sciences back in 2008.Today the company cites a corporate address in Irving, Texas on its website. On Foru International’s Facebook page however, a different address in Orlando, Florida is provided.Heading up Foru International are Stacey Clark and Rebecca Ortolaza, who serve as co-Presidents of the company.As per Clark’s and Ortolaza’s respective Foru International corporate bios;Stacey Clark has over 30 years of experience in the direct selling industry, having consulted with or worked as a senior executive with over 30 different organizations.A finance and operations executive, Stacey…

USI-Tech’s BTC Package 2.0 “100% transparency” is a sham

February 28, 2018 0

When the Texas Securities Board issued USI-Tech with a cease and desist last year, one of the primary concerns was lack of disclosure.At the time USI-Tech were claiming to generate ROI revenue through bitcoin mining.In their cease and desist, the Securities Board pointed out a complete lack of evidence of bitcoin mining taking place or being used to fund ROI revenue.Rather than provide this evidence, USI-Tech ceased business operations in the US.Unfortunately however there was no getting around the US being USI-Tech’s primary source of invested funds.Despite having access to what was left of US investment, when combined with investment from…

Valentus, Advanced Laboratories and Vitae Global settle $3.1 mill lawsuit

February 27, 2018 0

The almost year-long feud between Valentus, Advanced Laboratories and Vitae Global has come to an end, following notice of a settlement.For those unfamiliar with the dispute, last May Valentus’ SlimRoast coffee supplier sued the company for $3.1 million.The lawsuit originated over an allegedly broken contract, wherein Advanced Laboratories were to supply Valentus with 630,000 boxed single-serve sachets of SlimRoast.Valentus paid for 100,000 of the boxes and then informed Advanced Laboratories they wouldn’t be honoring the rest of the contract.Valentus denied the claims and in turn filed a counter-claim, accusing Advanced Laboratories of engagingin a deliberate and calculated campaign to misappropriate Valentus’…

MineTech Farm Review: Three-tier “cryptocurrency mining” Ponzi

February 27, 2018 0

MineTech Farm provide no information about who owns or runs the company on their website.The MineTech Farm website domain (“minetech.io”) was privately registered on February 13th, 2018.MineTech Farm provide an incorporation document for “MineTech Farm LTD” on their website.MineTech Farm LTD was incorporated in the UK on February 15th, 2018. Gregory Stones is listed as the sole Director of the company.The only connection between Gregory Stones and MineTech Farm is the incorporation document, casting doubt on whether Stones actually exists or not.UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate…

Lendium Review: LEN points ICO lending Ponzi scheme

February 26, 2018 0

Lendium provide no information on their website about who owns or runs the business.The Lendium website domain (“lendium.tech”) was privately registered on January 11th, 2018.At the time of publication Alexa show Russia as the only significant source of traffic to the Lendium website.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.Lendium ProductsLendium has no retailable products or services, with affiliates only able to market Lendium affiliate membership itself.The Lendium Compensation PlanLendium affiliates acquire pre-generated LEN points from the company’s anonymous owners.LEN points…

Medium Platform Coin Review: “High and stable incomes” 240% ROI Ponzi

February 26, 2018 0

Medium Platform Coin provide no information on their website about who owns or runs the company.The Medium Platform Coin website domain (“mediumplatformcoin.com”) was privately registered on November 19th, 2017.A UK incorporation certificate is provided on the Medium Platform Coin website, which corresponds to “Medium Platform Coin LTD”.Medium Platform Coin LTD was incorporated in the UK on November 9th, 2017.Molly Lewinson is listed as the sole Director of the company, through a serviced office address in Bristol, England.No information is available about Lewinson’s role in Medium Platform Coin outside of the incorporation, casting doubt on whether she actually exists.UK incorporation is dirt…

USI-Tech shirk Ponzi ROI liability after bogus audit

February 25, 2018 0

When Texas issued USI-Tech with a cease and desist and provide evidence of external ROI revenue, rather than do so the company hastily terminated operations in the US.The problem with this decision however was that the US was by far USI-Tech’s largest source of investors, which also meant they were owed the most amount of money.Unable to pay out their affiliates (that’s not how a Ponzi scheme works), USI-Tech has stalled on the matter since the decision to run from US regulators in early January.This stalling saw the company hide behind the fiction that it was conducting an internal audit to…

Noble 8 Revolution affiliates stiffed out of Noble 7 refunds

February 25, 2018 0

After the Waszupp Global collapsed, Global Directors Blaine Williams and Mark Campese hitched their wagons to the Noble 7 Crowdfunding.Officially Williams and Campese didn’t run Noble 7 but they were heavily involved in day to day management as Field Chairmen.Noble 7 Crowdfunding was a short-lived and collapsed within a month.But not before stiffing a bunch of affiliates who followed Williams and Campese out of $50 a pop.In an attempt to lure victims over to their Noble 8 Revolution reload scam, Williams, Campese and former Noble 7 Crowdfunding President Jim Anderson dangled the prospect of $50 refunds.This was supposed to happen through the “resolving…