Monthly Archive: March 2018

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Ride the Litecoin Review: BitFundZA Ponzi reload scheme

Ride the Litecoin provide no information on their website about who owns or runs the business.The Ride the Litecoin website domain (“ridethelitecoin.tech”) was privately registered on September 28th, 2017.Marketing material for Ride the Litecoin appears on the official BitFundZA YouTube channel:Conversely marketing material for BitFundZA appears on Ride the Litecoin social media profiles:This suggests that whoever ran BitFundZA also has a hand in running Ride the Litecoin.BitFundZA was a matrix-based gifting scheme that launched around October, 2017.By December, 2017, BitFundZA went into decline and began to collapse.As evidenced by promotional material for Privilege Car Club also appearing on Ride the Litecoin…

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Second Traffic Monsoon preliminary injunction appeal filed

Charles Scoville has filed a second Traffic Monsoon appeal which, unless I’m missing something, seems to be completely pointless.Granted the first appeal is widely seen as just an attempt to delay the inevitable, it’s still valid in the sense a defendant can exhaust all defenses available.This second appeal doesn’t seem to serve any purpose.The second Traffic Monsoon appeal was filed on March 13th, in response to a February 16th Second Amended Order Appoint (the) Receiver.This order reaffirmed the appointment of the Traffic Monsoon Receiver, but limited the scope of the appointment such that Scoville maintained representation of Traffic Monsoon in the…

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Power Mining Pool collapses after securities fraud cease & desist

On March 6th the Power Mining Pool Ponzi scheme was issued a securities fraud cease and desist by the state of Texas.On March 7th the Power Mining Pool website went down.Here’s the explanation given to Power Mining Pool investors at the time;We are updating our server to a much faster and powerful server and is taking longer than we expected, so please be patient with us. Thanks.Nine days later and the Power Mining Pool website is still down.A visit to the Power Mining Pool website today shows the domain has been disconnected from the company’s hosting.The Power Mining Pool domain is…

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HBM Corporation Review: Network of pawnshops = 288% annual ROI?

HBM Corporation provide no information on their website about who owns or runs the business.Marketing videos on the HBM Corporation website depict the opening of a company office in Kiev, Ukraine.None of the individuals featured in the video are named on the HBM Corporation website.In the “about” section of their website, HBM Corporation provide an incorporation certificate for “Higher Business Management LTD”.Higher Business Management LTD was incorporated in the UK on October 3rd, 2017.Michael McKinney is listed as the sole Director of the company.No information is available tying McKinney to HBM Corporation outside of the incorporation, casting doubt on whether he…

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ICO Ponzi promotion on YouTube leads to calls to Miami police & FBI

One of the larger channels still promoting ICO lending Ponzi schemes on YouTube is “Team US Crypto Baller”.Starting out with BitConnect, as many did, since the Ponzi scheme’s collapse the Team US Crypto Baller channel has been used to promote numerous ICO lending Ponzis, most of which have since collapsed.It was recently revealed that the owner of the Team US Crypto Baller channel is Francesco Dilullo.Prior to getting into Ponzi promotion on YouTube, Dilullo was the CEO of Holey Donuts.Dilullo touted his experience as a professional donut chef. He even grew up in the back of his father’s donut shop and…

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Monat Global claim 1000 order cancellations over the past two months

According to recent court filings, Monat Global are blaming critics for 1000 order cancellations over the past two months.Purported issues with Monat Global’s products typically stem from reported hair loss and rashes.Monat Global don’t outright deny the claims, but are instead suing critics it claims are “engaged in a smear campaign designed to promote other products”.Speaking on behalf of Monat Global and coming across as very much anti-consumer, Gene Grabowski stated;Everyone is entitled to their opinion. By the way, there is not a constitutional right to complain about a company.A company has a right to respond any way it wants to.As…

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Genesis Mining indicate no challenge to securities fraud cease & desist

After receiving a securities fraud cease and desist last Sunday, Genesis Mining has finally issued a public response.Being the responsible company that they are, Genesis Mining have announced they’ll register their securities offering with the SEC and operate legally in the US.…Nah, this is crypto baby.Genesis Mining’s response to the South Carolina cease and desist is to comply by ceasing to offer unregistered securities to residents of South Carolina.Outside of South Carolina Genesis Mining has committed to continue to illegally offer unregistered securities across the US.Rather than address the issue by registering Genesis Mining with the SEC, CEO Marco Streng has…

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TradeNetCoin Review: TNC points ICO lending Ponzi scheme

TradeNetCoin provide no information on their website about who owns or runs the business.The TradeNetCoin website domain (“tradenetcoin.io”) was privately registered on December 22nd, 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.TradeNetCoin ProductsTradeNetCoin has no retailable products or services, with affiliates only able to market TradeNetCoin affiliate membership itself.The TradeNetCoin Compensation PlanTradeNetCoin affiliates acquire pre-generated TNC points from the company’s anonymous owners.TNC points are sold to TradeNetCoin affiliates for 65 cents to $1.50 each.Once acquired, TNC points are “lent” back to…

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Cashbery Review: 400 day ROI Russian loans Ponzi scheme

Cashbery launched about a year ago and name Artur Vardanyan (Артур Варданян) as Chairman of the Board.According to Vardanyan’s corporate bio;in the past (he) held position of the head of the credit department and the deputy chief of the economic security service in one of the largest Russian banks.Multiple incorporation documents are provided on the Cashbery websites, mostly in Russian.There is the token UK incorporation for “Cashbery Limited” though.Vardanyan (right) is listed as Cashbery Limited’s sole Director, however he’s cited as a UK resident.The address provided for Cashbery Limited and Vardanyan is a random serviced office address in London.So if that’s any indication,…

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Questra World founder Pavel Krymov to be extradited to Kazakhstan

Back in February Russian authorities arrested Pavel Krymov at the behest of Kazakh authorities.Krymov is believed to be behind the Questra World, Atlantic Global Asset Management, QW Lianora Swiss Consulting and Five Winds Ponzi schemes.Following a hearing earlier this week, it has been confirmed Krymov will be extradited to Kazakhstan.Krymov (right) is believed to be wanted on several fraud charges in Kazakhstan, with details of the investigation revealing Krymov’s investigation began mid 2017.Over 15 years of criminal activity, the fraudster has created more than 40 scams, which led to massive investigations around the world.In the summer of 2017, several criminal cases were…