SaxoCoin Review: SAXO points ICO lending Ponzi

February 22, 2018 mlmdetective 0

SaxoCoin provide no information on their website about who owns or runs the company.The SaxoCoin website domain (“saxocoin.io”) was privately registered on January 4th, 2018.A virtual office address owned by ServCorp in Hong Kong is provided on the SaxoCoin 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.SaxoCoin ProductsSaxoCoin has no retailable products or services, with affiliates only able to market SaxoCoin affiliate membership itself.The SaxoCoin Compensation PlanSaxoCoin affiliates acquire SAXO points from the company’s anonymous owners.SAXO points are sold to SaxoCoin…

PrimeLend Review: PML points ICO lending Ponzi scheme

February 22, 2018 mlmdetective 0

PrimeLend provide no information on their website about who owns or runs the business.The PrimeLend website domain (“primelend.io”) was privately registered on December 9th, 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.PrimeLend ProductsPrimeLend has no retailable products or services, with affiliates only able to market PrimeLend affiliate membership itself.The PrimeLend Compensation PlanPrimeLend affiliates acquire PML points from the company’s anonymous owners.PML points are sold to PrimeLend affiliates for 50 cents to $1 each.Once acquired, PML points are “lent” back to PrimeLend…

KaratBars International to launch KaratBank Coin ICO

February 21, 2018 mlmdetective 0

The latest MLM company to jump on the pointless altcoin launch is Karatbars International.For those unfamiliar with the company, Karatbars International combines pyramid recruitment with a token gold offering.While gold is available for purchase through the company, the focus of the compensation plan is getting people to sign up with affiliate packages.You wouldn’t know that from visiting the Karatbars International website though, as the company is notoriously secretive about its MLM business opportunity.In any event, Karatbars International recently released a KaratBank Coin ICO whitepaper.According to the whitepaper;KaratBank Coin is a blockchain-based cryptocurrency that is linked to physically deposited gold in the…

Traffic Monsoon Receivership order slightly amended

February 21, 2018 mlmdetective 0

Following a request for briefings on the duties and powers of the appointed Traffic Monsoon Receiver, an amended order has been filed.The February 20th Second Amended Order Appointing (the) Receiver defines specific “powers reserved for (Charles) Scoville”.Scoville is granted authority to appeal and advance arguments on behalf of Traffic Monsoon in the appeal presently pending in the United States Court of Appeals of the Tenth Circuit pursuant to the Notice of Interlocutory Appeal or any further appeal seeking to modify the following Orders of this court.This came up as a result of an amicus brief filed by the Receiver in Scoville’s…

BeeCash Review: BEH points ICO lending Ponzi scheme

February 20, 2018 mlmdetective 0

BeeCash provide no information on their website about who owns or runs the business.The BeeCash website domain (“beecash.co”) was registered on November 28th, 2017.“Beecash coin” is listed as the owner with what appears to be bogus details (eg. “Registrant City: United Stage”).Official BeeCash marketing videos are narrated with a thick European accent. This suggests that whoever is running the company is likely also based out of Europe.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.BeeCash ProductsBeeCash has no retailable products or services,…

Bitron Review: BTN points ICO lending Ponzi scheme

February 20, 2018 mlmdetective 0

Bitron provide no information on their website about who owns or runs the company.The Bitron website domain (“bitron.io”) was privately registered on January 1st, 2018.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.Bitron ProductsBitron has no retailable products or services, with affiliates only able to market Bitron affiliate membership itself.The Bitron Compensation PlanBitron affiliates acquire BTN points from the company’s anonymous owners.BTN points are sold to Bitron affiliates for 70 cents to $2.50 each.Once acquired, BTN points are “lent” back to Bitron…

QatarCoin Review: QTC points ICO lending Ponzi

February 20, 2018 mlmdetective 0

QatarCoin provide no information on their website about who owns or runs the business.The QatarCoin website domain (“qatarcoin.co”) was privately registered on November 19th, 2017.Despite the name, it appears QatarCoin has nothing to do with Qatar.At the time of publication Alexa estimate Nigeria (20%) and India (11%) are the top two sources of traffic to the QatarCoin 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.QatarCoin ProductsQatarCoin has no retailable products or services, with affiliates only able to market QatarCoin affiliate membership…

FirstCoin Club under police investigation, reports exchange

February 19, 2018 mlmdetective 0

FirstCoin are set to have their FRST altcoin dumped from the LiveCoin exchange, following the revelation the company is under police investigation in “at least 2 countries”.BehindMLM reviewed FirstCoin Club in mid-2017. Based on FirstCoin Club’s business model, we concluded it was little more than another Ponzi points altcoin launch coupled with pyramid recruitment.According to LiveCoin’s February 16th press-release, FirstCoin Club’s FRST is being delisted due torequests from police authorities from at least 2 countries at this moment and 1 open case.As to specifics regarding the requests and confirmed investigation, LiveCoin state they’re ‘not authorized to disclose any details of requests…

Naturally Plus Review: Hydrogenated water for $30 a liter?

February 19, 2018 mlmdetective 0

Naturally Plus operate in the nutrition MLM niche and are based out of Tokyo, Japan.In addition to Japan, Naturally Plus has offices in Taiwan, Hong Kong, Korea, Singapore, Malaysia, Indonesia, Thailand, the Philippines, Vietnam, Brunei and the US.Naturally Plus was founded in 1999 and is headed up by CEO and President, Takaaki Nagoshi.Nagoshi’s Naturally Plus corporate bio reveals nothing about himself and instead reads as an advertisement for the company.Naturally Plus in the US goes by the acronym “NPUSA” and is headed up by CEO and Director, Takashi Tajima (right).Beginning his career with an explosive success in the industry as a…

Arkonix Mining Review: 5475 day cloud mining ROI & recruitment

February 18, 2018 mlmdetective 0

Arkonix Mining provide no information about who owns or runs the business on their website.The Arkonix Mining website domain (“arkonix.eu”) was privately registered on September 16th, 2017.The Arkonix Mining website uses both USD and EUR as currencies, suggesting whoever is running the company is also based out of Europe.This corresponds with an address in Ticino, Switzerland provided in the footer of the Arkonix Mining 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.Arkonix Mining ProductsArkonix Mining has no retailable products or services,…