Norway reopens Lyoness pyramid scheme investigation

July 8, 2017 mlmdetective 0

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…

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

July 8, 2017 mlmdetective 0

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…

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

July 7, 2017 mlmdetective 0

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…

Malaysian authorities still investigating MBI International fraud

July 7, 2017 mlmdetective 0

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,…

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

July 6, 2017 mlmdetective 0

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…

Modern Money Team Review: $50-$3000 crypto mining investment

July 6, 2017 mlmdetective 0

Modern Money Team provide no information on their website about who owns or runs the business.The Modern Money Team website domain (“modernmoneyteam.com”) was privately registered on May 25th, 2017.Further research reveals Modern Money Team affiliates naming Dan Putnam as CEO of the company:Why this information isn’t provided on the Modern Money Team website is unclear.Dan Putnam first appeared on BehindMLM’s radar back in 2012, as owner of EPX Body.In 2014 Putnam launched One80.Whereas EPX Body was a legitimate MLM opportunity with a retailable product, One80 marked Putnam’s transition towards online marketing tools.One80 flopped and a year later was followed up by Let Us Close, a short-lived recruitment…

All 1x2s Review: Three-tier $5 in, $2020 out matrix cycler Ponzi

July 5, 2017 mlmdetective 0

All 1x2s provide no information on their website about who owns or runs the company.The All 1x2s website domain (“all1x2s.com”) was registered on June 28th, 2017. Mickie Jones is listed as the owner, with an address in the US state of New York also provided.No information on Jones outside of the domain registration exists tying him to All 1x2s exists, suggesting the domain registration details might be bogus.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.All 1x2s ProductsAll 1x2s has no retailable…

TwiceCoin Review: GladiaCoin Ponzi reload scheme

July 5, 2017 mlmdetective 0

TwiceCoin provide no information on their website about who owns or runs the business.The TwiceCoin website domain (“twicecoin.com”) was privately registered on June 8th, 2017.It’s worth pointing out the TwiceCoin company logo and website domain are pretty similar to that of GladiaCoin Ponzi scheme.GladiaCoin launched earlier this year in March and promised a 200% ROI on bitcoin investment within 90 days.By late May GladiaCoin ran into withdrawal problems. The scam collapsed in early June, leaving the majority of affiliates out of pocket.In addition to similar design elements, TwiceCoin also uses the same CloudFront name-servers as the GladiaCoin domain. This strongly suggests the…

ATC Coin Review: ATCC altcoin with massively inflated public value

July 4, 2017 mlmdetective 0

ATC Coin provide no information about who owns or runs the business on the company website.The ATC Coin website domain (“atccoin.com”) was privately registered on March 1st, 2017.A page on the ATC Coin website titled “legend’s involvement” claims Bill Gates, Warren Buffet, Eric Schmidt, Richard Branson and Peter Thiel are “involved” in the company.No proof of any involvement by any of the individuals listed is provided.An UK incorporation document for ATC Coin LTD is provided on the ATC Coin website.ATC Coin LTD was incorporated in the UK on May 11th, 2017.Subhash Jewria (right) is listed as the sole Director of the company,…

iCoin Market Review: Desperate attempt to resuscitate Ads Cash Coin

July 4, 2017 mlmdetective 0

iCoin Market provide no information on their website about who owns or runs the business.The iCoin Market website domain (“icoinmarket.com”) was first registered in April, 2013.The domain registration details were recently undated on May 8th, 2017, suggesting this is when the current owner(s) took possession of it.An address in Hong Kong appears on the iCoin Market website, with the same address appearing on the Click Intensity website.Click Intensity is a Ponzi scheme launched in early 2016 by Nick Johnson.Johnson’s ownership of iCoin Market can be confirmed by visiting Johnson’s Facebook profile, on which he refers to iCoin Market in the possessive:When…