Author: mlmdetective

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Cryptocurrency Bank MLM Review: a cryptocurrency global virtual bank?

Cryptocurrency Bank MLM provide no information on their website about who owns or runs the company.The Cryptocurrency Bank MLM website domain (“ccbmlm.com”) was privately registered on June 11th, 2017.At the time of publication Alexa currently estimate the US, Nigeria and Brazil are the top sources of traffic to the Cryptocurrency Bank MLM website.The Cryptocurrency Bank MLM affiliate agreement suggests the company might be run out of Florida;Venue and jurisdiction for any action pertaining to this agreement or any disagreement or claim between the parties hereto shall be in Palm Bach Country, State of Florida or in the United States District Court…

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Ruja Ignatova charged with Ponzi fraud by Indian authorities

Just over a week ago Indian authorities in Mumbai filed a chargesheet against six OneCoin affiliates.The affiliates stand accused of promoting the OneCoin Ponzi scheme in India.To date officers from the Mumbai EOW have arrested twenty-three suspects in connection with the promotion of OneCoin across India.Following up on the original chargesheet filed last month, the Mumbai EOW have filed a new chargesheet naming thirty suspects.One of the suspects in the new chargesheet is Ruja Ignatova (right). Indian authorities have identified Ignatova as “the founder of the Ponzi scheme”.“In this sort of scheme, investors become the perpetrators as well as victims. It…

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Lets Multiply Review: Seven-tier matrix gifting with pyramid recruitment

Lets Multiply provide no information on their website about who owns or runs the business.The Lets Multiply website domain (“letsmultiply.com”) was privately registered on September 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.Lets Multiply ProductsLets Multiply has no retailable products or services, with affiliates only able to market Lets Multiply affiliate membership itself.The Lets Multiply Compensation PlanLets Multiply affiliates purchase $10 positions in a seven-tier matrix cycler.Matrix sizes used in Lets Multiply’s cycler include 3×2, 3×3, 3×4, 3×5, 3×6, 3×7…

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DemixMine Review: 5% a day through cryptocurrency pool mining?

DemixMine provide no information on their website about who owns or runs the business.The DemixMine website domain (“demixmine.com”) was privately registered on March 12th, 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.DemixMine ProductsDemixMine has no retailable products or services, with affiliates only able to market DemixMine affiliate membership itself.The DemixMine Compensation PlanDemixMine affiliates invest money on the promise of an advertised daily ROI:invest $1 to $10 and receive 3% a dayinvest $11 to $100 and receive 3.5% a dayinvest $101 to…

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Divvee delves into forex. Ryze AI? Hodo Global? Travis Bott?

Divvee launched mid last year to a lukewarm reception.The company provided access to discounts for $9.95 a month, which never really took off with retail customers.By the end of the year the company had added “Rank and Share” to its offering.Divvee’s Rank and Share saw affiliates and free customers rewarded with points for rating mobile apps.On the backend Rank and Share directly and residually on the recruitment of new Divvee affiliates.Initially Rank and Share sparked renewed interest in Divvee, however from March interest once again began to wane.Last month Divvee corporate and its affiliates began marketing something called Ryze AI.Ryze AI…

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Norway reopens Lyoness pyramid scheme investigation

Back in 2014 the Norwegian Gaming Board wrapped up an investigation into Lyoness. The conclusion of the investigation saw the Gaming Board confirm Lyoness ‘does not engage in illegal activities in Norway‘.Analysis of the Gaming Board’s official report revealed the regulator primarily relied on marketing material provided by Lyoness in their investigation.Three years later, the Gaming Board has now reopened their investigation into Lyoness.The Gaming Board’s announcement was made on June 16th.In it, the regulator claims that after identifying Lyoness as a pyramid scheme, the company “adapted themselves to legitimate business” by creating Lyconet.As far as I’m aware Lyoness has never publicly…

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IGOFX Ponzi collapses, $4.4 billion in losses & admins flee to Malaysia

It was pretty obvious from the onset that IGOFX was just another Malaysian Forex Ponzi scam.Passive monthly ROIs of 10% to 30% were touted, from persons unknown presumed to be operating out of Malaysia.Now following confirmation that IGOFX has collapsed, it has been revealed that the couple running the Ponzi scheme were in fact living in China.Recent news reports however claim in the wake of IGOFX’s collapse, the couple have since fled to Malaysia.Reports from IGOFX affiliates suggest IGOFX was on the verge of collapse by early June.BehindMLM reviewed IGOFX in March 2017 and concluded it was a Ponzi scheme.Over the…

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Earn Fast BTC Review: Bitcoin ROI, cycler and pyramid recruitment

Earn Fast BTC provide no information on their website regarding who owns or runs the company.The Earn Fast BTC website domain (“earnfastbtc.com”) was privately registered on June 24th, 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.Earn Fast BTC ProductsEarn Fast BTC has no retailable products or services, with affiliates only able to market Earn Fast BTC affiliate membership itself.Bundled with Earn Fast BTC affiliate membership are ad credits, which can be used to display advertising on the Earn Fast BTC website.The…

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Malaysian authorities still investigating MBI International fraud

MLM Regulation appears to be a bit ass-backwards in Malaysia.After seizing over $40 million dollars and arresting MBI International founder Teddy Teow, Malaysian authorities released him and claimed they were still investigating.Now the Domestic Trade, Cooperatives and Consumerism Ministry  has provided an update on the situation.According to Minister Datuk Seri Hamzah Zainuddin, even though Teow was arrested, the regulatorcan’t simply accuse anyone despite receiving reports from several quarters. We have to carry out thorough research.The investigation is not carried out only by KPDNKK but also other agencies such as Bank Negara and the Attorney-General’s Chambers.This is to ensure that when we take action,…

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Simple Bit Matrix Review: 2×7 matrix bitcoin gifting scheme

Simple Bit Matrix provide no information on their website about who owns or runs the business.The Simple Bit Matrix website domain (“simplebitmatrix.com”) was privately registered on June 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.Simple Bit Matrix ProductsSimple Bit Matrix has no retailable products or services, with affiliates only able to market Simple Bit Matrix affiliate membership itself.The Simple Bit Matrix Compensation PlanSimple Bit Matrix affiliates gift bitcoin to each other via a 2×7 matrix.A 2×7 matrix places a Simple…