OneCoin facing fines of up to €5 million EUR in Italy

March 9, 2017 mlmdetective 0

Back in December the Antitrust and Consumer Protection Authority (AGCM) ordered the suspension of OneCoin promotion in Italy.In early January OneCoin responded to the AGCM’s promotional ban by claiming they’d ‘never promoted OneCoin and/or OneLife in Italy‘.In late January police raids on recruitment events revealed OneCoin was still being promoted locally.This prompted the AGCM to confirm OneCoin was a pyramid scheme and ban the company from operating in Italy entirely.As of March 7th OneCoin has not responded to the AGCM’s ban.As per the AGCM’s order, OneCoin mustsuspend any activity concerned with the promotion and dissemination of OneCoin and training packages related to it andcommunicate…

Pay Diamond Review: Diamond investment = 5% a week ROI?

March 9, 2017 mlmdetective 0

Pay Diamond provide no information on their website indicating who owns or runs the business.The Pay Diamond website domain (“paydiamond.com”) was first registered on the 26th of December, 2014. The registration was last updated on November 27th, 2015.“PayDiamond Marketing & Sales Limited” is listed as the domain owner, with a virtual office address in Hong Kong also provided.Alexa traffic statistics reveal that with the exception of Japan (12%), the majority of traffic to the Pay Diamond website originates out of South America.The Pay Diamond website itself is hosted in Brazil and the default language of the Pay Diamond website is Portuguese…

SportArb Review: Weekly 10% ROI through sports arbitrage?

March 9, 2017 mlmdetective 0

SportArb provide a UK Companies House registration certificate on their website, which reveals Sport Arbitrage LTD was incorporated in August, 2016.An office address in Birmingham is provided in SportArb’s incorporation documents. Further research reveals this to a suite of offices, with the same address belonging to over three hundred businesses.Four executives are named on the SportArb website; Ronald Wald (CEO), Sid Clive (Senior IT Engineer), Mitch Stew (customer service) and Andres Martin (trader).The SportArb website domain (“sportarb.com”) was registered in August, 2016 by Wald.A LinkedIn profile is provided for each SportArb executive. They all seem pretty suspicious though, with only Sport Arbitrage…

Renato Rodriguez & partner settle Vizinova fraud charges

March 9, 2017 mlmdetective 0

On March 2nd the SEC filed a lawsuit against Vizinova and owners Renato Rodriguez (full name: Pablo Renato Rodriguez Arevalo) and Gutemberg Dos Santos.Vizinova launched in March, 2014 and for all intents and purposes was a reboot of Phil Ming Xu’s WCM777 Ponzi scheme.Both Rodriguez and Dos Santos were affiliates in WCM777.In their complaint, the SEC allege that Vizinova was a $5 million dollar Ponzi scheme.Through the shell companies Kingdom Marketing Group, Eagle Holdings Group and FirstNet United, Rodriguez and Dos Santos laundered and kept about 30% of invested funds.There is no U.S.-based entity called Vizinova. Instead, Rodriguez and Dos Santos used Mexican nationals…

Skyllex Review: $50 to $10 million Russian Ponzi fraud

March 8, 2017 mlmdetective 0

Skyllex provide no information on their website about who owns or runs the company.The Skyllex website domain (“skyllex.com”) was first registered on July 31st, 2015. The registration was last updated on June 2nd, 2016.The Skyllex domain registration is set to private, providing no information about who owns it.Despite the registration of SKYLLEX PTY LTD (ACN: 612 788 600) with the Australian Securities & Investments Commission, Skyllex otherwise appears to be run by anonymous Russians.Evidence supporting this is as follows:Russia is the first offered language on the Skyllex websiteposts on the official Skyllex Facebook page are predominantly in Russianthe sole admin of the official Skyllex Facebook page…

GladiaCoin Review: 90 day bitcoin doubler with binary recruitment

March 8, 2017 mlmdetective 0

There is no information on the GladiaCoin website indicating who owns or runs the business.The GladiaCoin website domain (“gladiacoin.com”) was privately registered on November 26th, 2016.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.The GladiaCoin Product LineGladiaCoin has no retailable products or services, with affiliates only able to market GladiaCoin affiliate membership itself.The GladiaCoin Compensation PlanThe GladiaCoin compensation plan sees affiliates invest bitcoin on the promise of an advertised 90 day 200% ROI.All but the lowest offered GladiaCoin offered investment plan pays…

5 new money laundering charges against 15 TelexFree individuals

March 8, 2017 mlmdetective 0

While James Merrill has plead guilty and is scheduled to be sentenced on March 23rd, investigations into TelexFree continue down in Brazil.The latest has seen five money laundering charges filed against fifteen individuals connected to TelexFree.The Federal Public Prosecutor’s Office in Espírito Santo (MPF / ES) has filed five accusations of money laundering against members of Telexfree.Among the accused are Carlos Roberto Costa and Carlos Nataniel Wanzeler, managing partners of the company, as well as associates and relatives of the businessmen.The full list of the accused is as follows:Carlos Nataniel WanzelerCarlos Roberto CostaKatia Helia Wanzeler,  wife of Carlos WanzelerJozélia Miriam Sangali,  wife…

My 24 Hour Income collapses for fourth time, withdrawals suspended

March 8, 2017 mlmdetective 0

Along with the usual hackers and DDOS excuses, Know Your Customer is fast becoming a popular reason for Ponzi admins to stop paying out.Know Your Customer, or KYC for short, is very much a real thing. It’s primarily used by companies to verify their clients.In the MLM underbelly, typically after invested funds have been exhausted, it’s deployed to restrict payouts to affiliate investors.My 24 Hour Income launched in mid 2016 and offers investors an advertised 130% ROI. The scheme is run by Drew Burton, who is based out of Canada.By late November My 24 Hour Income had collapsed. Burton (right) claimed hackers…

OneCoin investment warning issued by Croatian National Bank

March 7, 2017 mlmdetective 0

With the President of Croatia scheduled to speak at a OneCoin sponsored event today, now a warning from the country’s top financial regulator.As per their website, the Croatian National Bank is the highest financial regulator in the country. The stated goal of the bank is to ensure stability of Croatia’s financial system.On March 7th the Croatian National Bank issued a warning to consumers, advising them against OneCoin investment.Citing risks associated with Ponzi schemes, the Croatian National Bank warnsOneCoin is not electronic money within the meaning of the Electronic Money Act, nor does it present a payment service within the meaning of the…

Synergy Worldwide Review: Pay to play & autoship recruitment

March 7, 2017 mlmdetective 0

Synergy Worldwide is based out of Utah and operate in the nutritional supplement MLM niche.The company was founded in 1999 by Dan Higginson, who primarily focused marketing Synergy Worldwide in Japan.Dan’s goal was to build a company that would help people everywhere attain better health, grow more prosperous, and support communities in need.A year or so after launch Synergy Worldwide was sold off to Nature’s Sunshine Products (NSP), the company behind Nature’s Sunshine.NSP own and operate Nature’s Sunshine and Synergy Worldwide in parallel, with both company’s products manufactured by NSP in Utah.Synergy Worldwide is still run by Dan Higginson under NSP ownership, with Dan Norman…