Author: mlmdetective

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BitConnect TRO extended till February 27th (Kentucky)

The Temporary Restraining Order previously granted in the BitConnect class-action Kentucky lawsuit, has been extended until February 27th.The extension was granted after defendant Ryan Maasen requested a Telephonic Status Conference on February 5th.The conference was held on February 7th, during which Maasen requested ‘additional time to make disclosures and prepare for the preliminary injunction hearing‘.The Kentucky class-action names BitConnect and top promoter Ryan Maasen as defendants.As per the granted TRO, BitConnect and Maasen are required to identify and discloseall bitcoin and other cryptocurrency wallet addresses under their control and/or possessionall cryptocurrency trading account addresses andthe holder/owner of any wallet or cryptocurrency…

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Alliance in Motion Global Review 2.0: Still pyramid recruitment

I first reviewed Alliance in Motion Global back in 2013.The company claims to have launched around 2006 and is based out of the Philippines.Management wise Eduardo Cabantog still runs the company as CEO and “Visionary President”.About a week ago a BehindMLM reader informed me that there’d been some changes to Alliance in Motion Global’s compensation plan.Seeing as we hadn’t revisited our review since 2013, I felt it was time for an update.Alliance in Motion Global ProductsWhen I reviewed Alliance in Motion Global in 2013, the “products” section of their website was broken.In 2018 that’s still the case.When I click “products” on the…

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BitConnect defendant Ryan Maasen hides behind religion

As one of BitConnect’s top promoters, Ryan Maasen profited handsomely by investing in and convincing others to invest in the BitConnect Ponzi scheme.As I understand it, Maasen boasted about paying off his house and buying a new car as a result of his BitConnect promotional efforts.When BitConnect collapsed, Maasen was one of the first to set about systematically wipe all content he’d published about BitConnect on the internet.He then proceeded to begin pitching DavorCoin, a BitConnect Ponzi clone, to his viewers.That didn’t go down well and Maasen soon found himself at the center of a rage shitstorm.Maasen’s victims are out for…

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Bitconcent Review: BTCC points ICO lending Ponzi scheme

Bitconcent provide no information on their website about who owns or runs the business.The Bitconcent website domain (“bitconcent.co”) was privately registered on September 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.Bitconcent ProductsBitconcent has no retailable products or services, with affiliates only able to market Bitconcent affiliate membership itself.The Bitconcent Compensation PlanBitconcent affiliates acquire BTCC points from the company’s anonymous owners.BTCC is sold to Bitconcent affiliates for $1.50 each.Once acquired, BTCC points are “lent” back to Bitconcent on the promise of…

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USI-Tech impose iron curtain of secrecy, invested funds held hostage

With the lies about their working with US regulators exposed, USI-Tech management have switched focus to announcing their next moves on a “need to know” basis”.That is to say unless you’re a gullible dumbass who still believes USI-Tech hasn’t collapsed, management don’t want you knowing what they’re up to.Following reports of ROI withdrawal problems in Australia and continued silence on where US and Canadian invested funds went, USI-Tech’s Horst Jicha has sent out an “important news” update.Most of the update is dedicated to warning USI-Tech affiliates that the company will terminate their accounts.As an executive team, we have been immensely appalled…

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BTC Global Team Ponzi collapses, admin in denial?

BTC Global Team launched in late 2017 and quickly rose to be one of the biggest Ponzi schemes in South Africa.As I write this Alexa have BTC Global Team pegged in the top 1000 visited sites in South Africa, with the country making up 87% of traffic to the BTC Global Team website.On the business side of things, BTC Global Team solicited investment on the promise of a 14% weekly ROI.Payments were made in bitcoin up until a few days ago, with it now appearing that BTC Global Team has collapsed.As tracked by the BTC Global Scam Facebook group and its…

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Stepium Review: Not so American ethereum gifting scheme

Stepium provide no information about who owns or runs the company on their website.The Stepium website domain (“stepiumusa.com”) was privately registered on October 21st, 2017.A marketing video on the Stepium website states the company is a “high-tech American-based international project”.This appears to be baloney, with Stepium only creating the illusion of being a US company.Facts supporting this include:Russian and English being the only provided languages on the Stepium websiteStepium’s social media profiles are written in RussianRussian marketing videos featured on the Stepium YouTube channelAlexa tracking Russia as the only significant source of traffic to the Stepium websiteOh and the voice-over for…

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LendexCoin Review: LDX points ICO lending Ponzi

LendexCoin provide no information on their website about who owns or runs the business.The LendexCoin website domain (“lendexcoin.co”) was privately registered on November 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.LendexCoin ProductsLendexCoin has no retailable products or services, with affiliates only able to market LendexCoin affiliate membership itself.The LendexCoin Compensation PlanLendexCoin affiliates acquire pre-generated LDX points from the company’s anonymous owners.LDX points are sold to LendexCoin affiliates for 80 cents to $1.20 each.Once acquired, LDX points are “lent” back to…

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TRO sought against BitConnect and YouTube promoter defendants

The widest reaching lawsuit against BitConnect thus far is the first Florida class-action.Filed on January 24th, the initial class-action complaint sought to hold BitConnect, Glenn Arcaro, Nicholas “CryptoNick” Trovato, Ryan Hildreth, Trevon James and Craig Grant liable for $771,000 in BitConnect investor losses.On January 30th an amended complaint was filed, adding Ryan Maasen and Joshua Jeppesen as defendants.Maasen is another YouTube promoter. Joshua Jeppesen is credited as BitConnect’s Development Director.Joshua Jeppesen played an integral role in developing and promoting the BitConnect websites.Without his vital contributions, the BitConnect websites would not have functioned as well as they did and would not have…

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New Level Coin Review: NLC points ICO lending Ponzi scheme

New Level Coin provide no information on their website about who owns or runs the business.The New Level Coin website domain (“newlevelcoin.co”) was registered on November 21st, 2017.Ricardo Joseph is listed as the owner, through an address in Johannesburg, South Africa.I wasn’t able to find anything further on Joseph in connection with New Level Coin or the MLM industry.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.New Level Coin ProductsNew Level Coin has no retailable products or services, with affiliates only able…