Monthly Archive: May 2018

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MBI International founder Teddy Teow charged with financial fraud

The Bank of Malaysia has charged MBI International Ponzi boss Teddy Teow with two counts of financial fraud.Following initiation of an internal investigation, the Bank of Malaysia added MBI International to its alert list in May, 2017.
Bank officials continued to investigate the company, culminating in founder Teddy Teow (right) appearing in a Sessions Court on two counts of fraud.
According to the charge sheet, MBI Marketing Sdn Bhd and Mface International Sdn Bhd issued electronic money between June 3, 2012 and March 17 this year without approval under Section 25(1)(c) of Payment Systems Act 2003.
If convicted, Teow, whose Malaysian name is Teow Wooi Huat,…

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Avalon Life abandons Canadian IPO, blames affiliates

Avalon Life started out in 2016 as an AVLX altcoin investment scheme.AVLX didn’t go anywhere and was abandoned about a month after launch.
In mid 2017 Avalon Life rebooted as a Dash mining opportunity.
A few months later Dash was abandoned in favor of mining Pura Vida Coin.
By all appearances, Pura Vida Coin appeared to be Avalon Life’s second attempt to launch an altcoin.
By late 2017 Avalon Life appears to have quietly abandoned Pure Vida Coin.
Marketing material for a “Bitsurge token” first appeared on Avalon Life’s YouTube channel on December 11th, 2017.
This appears to coincide with CEO Tom Koller being replaced by Thomas…

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Westland Storage Review: Crypto Ponzi with WLS token exit-scam

Westland Storage provides no information on its website about who owns or runs the business.The Westland Storage website domain (“westlandstorage.com”) was first registered in 2005.
The registration was last updated on May 9th, 2018 but provides no information about the domain’s owners.
A visit to the Wayback Machine confirms the current version of the Westland Storage website went live on or around April 27th, 2018.
Prior to that the Westland Storage domain redirected to an unrelated storage business in Michigan.
This coincides with Alexa reporting an uptick in traffic to the Westland Storage domain from early May.
Despite existing for less than a month, on its…

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Bitworld Center Review: 300% ROI bitcoin mining and trading Ponzi

Bitworld Center provide no information on their website about who owns or runs the business.The Bitworld Center website domain (“bitworldcenter.company”) was privately registered on April 2nd, 2018.
Further research reveals multiple affiliates claiming Bitworld Center is a “Brazilian company” operated by Macio Silver.
Possibly due to language barriers, I was unable to find anything further on Silver.
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.
Bitworld Center Products
Bitworld Center has no retailable products or services, with affiliates only able to market Bitworld Center affiliate membership…

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CryptoRound Review: Cryptocurrency mining daily ROI Ponzi scheme

CryptoRound provide no information on their website about who owns or runs the business.The CryptoRound website domain (“cryptoround.biz”) was privately registered on May 20th, 2018.
CryptoRound provide a bogus UK incorporation certificate for “CryptoRound Investment Pvt. Ltd.” on their website.
Legitimate UK incorporation certificates are bad enough. Fake UK incorporation certificates all but confirm the fraudulent nature of an MLM business.
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.
CryptoRound Products
CryptoRound has no retailable products or services, with affiliates only able to market CryptoRound affiliate…

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DD Futures Review: Hedge fund management eight-tier Ponzi scheme

DD Futures provide no information on their website about who owns or runs the company.The DD Futures website domain (“ddfutures.com”) was first registered in 2016.
The registration was recently updated on February 14th, 2018, suggesting this is when the current anonymous owners took possession of it.
This corresponds with an uptick of traffic to the DD Futures website.
A visit to the Wayback Machine confirms the current incarnation of the DD Futures website went live sometime in February.
Despite this, DD Futures fraudulently claim the company has been running for 515 days (as of May 28th, 2018).
DD Futures provide a UK incorporation certificate for “DDFutures…

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Bitcaw Trading threatens to sue Hawks over BTC Global Team assoc.

In response to South Africa’s Hawks investigating links between Bitcaw Trading and BTC Global Team, the company’s lawyers have threatened to sue the Directorate for Priority Crime Investigation (DPCI).Bitcaw Trading is essentially a one-man operation run by Andrew Caw, one of BTC Global Team’s top promoters.
A BehindMLM investigation back in February revealed Caw had authored content on the BTC Global Team website.
Caw’s company, Bitcaw Trading, was also directly referenced in official BTC Global Team compensation documentation.
BTC Global Team’s compensation documentation was authored by Cheri Ward.
Andrew Caw is the last person to save the document before it was uploaded to the BTC Global Team…

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Chinese authorities differentiate OneCoin points from legitimate crypto

We’ve been covering the Chinese investigation into OneCoin since April, 2016.Owing to Ruja Ignatova’s roots with BigCoin, a similar Ponzi points scheme that primarily targeted Asia, China initially emerged as a primary source of OneCoin investment.
Along with all but a few third-world countries, investor recruitment in China died early last year after OneCoin suspended ROI payments.
Last week Chinese regulatory action against OneCoin and its promoters concluded, following prosecution of the remaining four suspects.
In total some 98 Chinese OneCoin affiliate investors have been prosecuted for promoting the scam.
One particularly interesting aspect of the case emerged in its wake, relating to how Chinese…

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The Travel Party Review: iTravel Party’s 3rd reboot goes full crypto Ponzi

The Travel Party is the third reboot of the twice failed iTravel Party scheme.iTravel Party first surfaced in 2015 and is owned and operated by CEO Daniel Butts.
Butts first appeared on BehindMLM as the co-founder of Rocket Cash Cycler, a Ponzi scheme launched in 2013.
Rocket Cash Cycler saw investors deposit $315 and get paid a $5300 ROI once enough subsequent positions had been invested in.
Prior to RocketCashCycler Butts launched EZ Wealth Formula, which saw affiliates charged $84 to join and paid to recruit new affiliates.
Read on for a full review of The Travel Party MLM opportunity.
The Travel Party Products
The Travel Party has no retailable…

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GroceryBit Review: My Freedom Grocer reboot with bitcoin

GroceryBit operate in the e-commerce MLM niche and provide a suite address in Arizona on their website.A Google search reveals a number of businesses operating out of the same address, suggesting it might be virtual in nature.
Three executives are named on the GroceryBit website; Steve Gewecke (Chief Marketing Officer), Jason Olson (President) and Frederick Weih (Grocery Industry Disrupter).
Frederick Weih founded My Freedom Grocer in early 2015. The company appears to have collapsed before the end of the year.
One My Freedom Grocer review suggests rebates ceased in the months leading up to the collapse;
And yes … I’m getting my 10% cash back every month.
[Update: I was getting…