BTC Global Team Review: 14% weekly ROI bitcoin Ponzi scheme

November 10, 2017 0

BTC Global Team provide no information on their website about who owns or runs the business.The company does however claim to be ‘the marketing arm of Steven’s Trading business.‘We are backed by our founding trader at Steven Twain.Steven has 6 years of experience trading binary options with consistent success, over the last 3 years he has started providing trading services for other large investors ($10,000+ only).(Our) group negotiated an amazing deal with Steven to get access to his trading services.Twain’s photo on the BTC Global Team website corresponds to the since deleted @steventwain22 Instagram account.Starting around two years ago, Twain used his…

iMarketsLive pyramid warning issued in Curaçao and Sint Maarten

November 10, 2017 0

Although iMarketsLive has made efforts to address a potential lack of retail sales, unregistered securities is still an ongoing compliance issue.Last month Colombia issued an illegal investment warning against the company, with the Central Bank of  Curaçao en Sint Maarten this month following suit.On September 22nd the Centrale Bank van Curaçao en Sint Maarten issued an iMarketsLive consumer warning;iMarketsLive and related entities … is not supervised by the CBCS.Please note that trading in the FOREX market has many and large risks associated with it.Furthermore, the proposed program that this entity is offering has similarities with a pyramid scheme. Since iMarketsLive does not…

Declaration letters sought in Chris Principe’s OneCoin defamation case

November 9, 2017 0

Earlier this year Chris Principe sued Timothy Curry for losses in excess of $75,000.In his lawsuit Principe alleges Tayshun publicly blasting him for his involvement in the OneCoin Ponzi scheme resulted in damages to his reputation.Dating back to a dubious Feb 2016 Financial IT cover featuring OneCoin founder Ruja Ignatova, Principe’s involvement in the promotion of OneCoin has been well documented.Principe’s complaint details damages to his reputation as a result of his alleged involvement with OneCoin.Ironically Skyway Capital, the company Principe claims he lost a PR deal with, is also a Ponzi scheme.Principe’s lawsuit was filed in May this year and…

Ponzi and pyramid scams aren’t an American problem

November 9, 2017 0

Despite every Ponzi scheme professing to offer its own unique spin on the model, the underlying mechanics of the scam remain the same.New money enters the scheme, primarily through new investors, which is then used to pay off those who have already invested.With this a Ponzi scheme in its simplest form and easily identifiable, today scams go to great lengths to disguise the flow of money.None of that however changes the end-result of a Ponzi scheme however, which is rooted in mathematical certainty.That being no matter how much is or isn’t promised, a Ponzi scheme can only pay out as much money…

Bielefeld Prosecutor, Munich Police Commissioner deny Ignatova arrest

November 9, 2017 0

Since Nbox broke the news that Ruja Ignatova had allegedly been arrested last Saturday, verified information related to the arrest has been slow to surface.Thus far we have The Gerlach Report claiming Ignatova was indeed arrested, and is being held at Stadelheim prison in connection to a fraud case in Bielefeld.Countering this is the law firm Schulenberg & Schenk, who have previously represented OneCoin’s interests in Germany.Schulenberg & Schenk told the online publication MLM Worldwide they’d confirmed Ignatova wasn’t being held at Stadelheim prison. They’d also purportedly confirmed Ignatova hadn’t been arrested in connection to the Bielefeld fraud case.Overnight three important documents have…

FX Prog Review: Forex & stocks management = 22% daily ROI?

November 8, 2017 0

FX Prog provide no information on their website about who owns or runs the business.The FX Prog website domain (“fxprog.com”) was privately registered on October 19th, 2017.A UK incorporate certificate for “FX Prog Limited” is provided, which corresponds to a October 23rd incorporation.Adam Paul is listed as the sole Director of the company through an address in London.The name is generic enough to cast doubt on whether Adam Paul, as represented by FX Prog, actually exists.A UK incorporation is cheap and easy to provide bogus details on, making it a favorite among scammers attempting to fake legitimacy.As always, if an MLM…

Coinbase Service Review: Ponzi scheme not related to known exchange

November 8, 2017 0

The Coinbase Service website domain (“coinbaseservice.com”) was privately registered on October 16th, 2017.A UK incorporation certificate is provided on the Coinbase Service website, which corresponds to Coin Base UK Service Limited.Coin Base UK Service Limited was incorporated on October 26th, 2017.Richard Walsh is listed as the sole Director of the company, through an office address in London.A UK incorporation is cheap and easy to provide bogus details on, making it a favorite among scammers attempting to fake legitimacy.On their website, Coinbase claim “Tyrone Lynch” is their founder.No information exists outside of the incorporation linking Tyrone Lynch or Richard Walsh to Coinbase…

Questra World collapses, suspends affiliate ROI withdrawals

November 8, 2017 0

For all intents and purposes, Questra World, Atlantic Global Asset Management and Five Winds are all the same company.Atlantic Global Asset Management launched first and is/was headed up by CEO Andrey Andreevich Abakumov.Atlantic Global Asset Management affiliates invested funds on the promise of a 300%-500% ROI in seven to eight months.With new affiliate investment Atlantic Global Asset Management’s only source of revenue, it wasn’t long before Questra World was launched.Questra World saw Atlantic Global Asset Management’s Russian roots take a backseat, with the company instead presented with Spanish management.Heading up the facade is Jose Manuel Gilabert, who today continues to front…

SEC sues Fort Ad Pays, reveals $38 million dollar Ponzi scheme

November 8, 2017 0

Fort Ad Pays was a Ponzi scheme that surfaced in 2015.Run by Pedro Fort, Fort Ad Pays affiliates invested in $1 to $300 on the promise of an advertised ROI of up to 210%.The ruse behind Fort Ad Pays’ business model was ad credit-packs, which provided advertising credits.By using these credits, Fort Ad Pays affiliates could advertise on the Fort Ad Pays website.In late 2015 Fort Ad Pays started to run low on funds. This prompted Pedro Fort (right) to launch The Business Shop.In May 2016 Fort Ad Pays and the Business Shop collapsed. Spanish publication El Pais pegged investor losses at…

Fuxion Review: Nutraceutical fusion with affiliate autoship recruitment

November 7, 2017 0

Fuxion operate in the health and nutrition MLM niche and appear to be based out of Peru.The company was founded in 2006 by Frank Michell, Derek Michell, Rafael Zuñiga Benavides and Alvaro Zuñiga Benavides.Fuxion officially launched in the US in 2015 and also has offices in Ecuador, Colombia, Costa Rica, Bolivia, Mexico, Panama, Chile, Venezuela, Guatemala and Nicaragua.Alvaro Zuñiga Benavides (right) heads up Fuxion as CEO.As per Benavides Fuxion corporate bio;he has more than 20 years as an entrepreneur in the food and dairy products industry.He has actively participated in the creation and development of several companies in the area of commerce,…