Author: mlmdetective

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Ted Nuyten and BusinessForHome stop shilling OneCoin

BusinessForHome’s first article on OneCoin was published on April 1st, 2015.Not a joke by any stretch of the imagination, in it Ted Nuyten reported on OneCoin’s purchase of the Conligus affiliate-base.This paved the way for victims who lost money in the original Conligus penny auction pyramid scheme to be double-scammed.Rather than report on this disturbing development, Ted Nuyten simply parroted Aron Steinkeller’s take and referred to it as a “strategic alliance”.After making millions off of recruitment of new victims into OneCoin over the next two years, Steinkeller and his brothers walked away from a reported $2.5 million a month income in…

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$5 billion dollar Maxim Trader Ponzi scammers arrested in Singapore

Now replaced mostly by mythical “crypto trading” schemes, a few years ago MLM forex trading scams were all the rage.A number of the schemes originated out of Malaysia and surrounding countries, although most operated through shell companies incorporated in New Zealand, Australia and various Pacific island nations.One such scam was Maxim Trader, which promised affiliates a monthly ROI of up to 8% on $5000 to $10,000 investments.Maxim Trader affiliates were of course also paid to recruit new investors through an MLM compensation plan.Maxim Trader was billed as a Malaysian company with ties to shell companies incorporated in Seychelles and New Zealand.The…

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USI-Tech warning issued by Attorney General of Guam

Following mounting controversy surrounding Guam Senator Tommy Morrison’s involvement in the USI-Tech Ponzi scheme, the Attorney General of Guam has issued an investor warning.The Attorney General’s warning is dated January 11th and advises the Attorney General’s Office islooking into concerns being raised with regard to business practices of a company by the name of USI-Tech.“Consumers who are looking to invest their money should exercise caution, do your research, and consult with experts in the field before making a decision to invest your hard-earned money or retirement in the virtual currency marketplace.” said Attorney General Elizabeth Barrett-Anderson.Senator Morrison is not mentioned in…

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LipCoin Review: A cryptocurrency for the surfing community?

LipCoin provide no information on their website about who owns or runs the business.The LipCoin website domain (“lipcoin.io”) was privately registered on November 10th, 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.LipCoin ProductsLipCoin has no retailable products or services, with affiliates only able to market LipCoin affiliate membership itself.The LipCoin Compensation PlanLipCoin affiliates buy pre-generated LPC points from the company’s owners.LPC points are sold by LipCoin to affiliates for between 45 cents to 95 cents each.LipCoin affiliates who purchase 400 or…

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Top US BitConnect investor Glenn Arcaro vanishes

As US authorities close in on the BitConnect Ponzi scheme, it appears the top US BitConnect affiliate investor has gone into hiding.In YouTube video footage dated early September, 2017, Arcaro boasts of generating $4.7 million dollars in BitConnect downline investment, netting him referral commissions in excess of $70,000.At the time Arcaro’s BitConnect backoffice showed an investment balance of $310,741. $84,780 appears to have been personally invested by Arcaro, with ROI payments totaling $21,703.How much Arcaro made in excess of that over the past five months is unclear.At an exclusive BitConnect “yacht party” held for top US investors, an evidently tipsy Arcano…

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Onn Fleek Review: TelexFree VOIP Ponzi clone with bitcoin

Onn Fleek provide no information on their website about who owns or runs the business.The Onn Fleek website domain (“onnfleek.com”) was privately registered on October 4th, 2017.Onn Fleek represent they are being operated from Argentina, however the corporate address provided is shared office space belonging to WeWork.There is no evidence suggesting Onn Fleek has a physical presence or actual  business operations in Argentina.That said it is highly likely that Onn Fleek is being operated out of South America.Offered languages on the Onn Fleek website include English, Portuguese (Brazil) and Spanish.Most of the available marketing for Onn Fleek is in Portuguese and…

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Senator blames USI-Tech affiliates, doesn’t acknowledge securities

In politics a good test of leadership might be how a politician reacts in a crisis.With Guam residents potentially facing hundreds of thousands of dollars in losses, Senator Tommy Morrison has all but hung them out to dry.In a statement published to his official Senator Tommy Morrison Facebook profile, Morrison (right) echoed USI-Tech’s failure to address their illegal offering of unregistered securities.Rather than take responsibility for not registering their securities offering, USI-Tech instead blamed affiliates for promoting USI-Tech as an investment scheme.Rather than register itself with securities regulators, which would require USI-Tech to prove it wasn’t a Ponzi scheme, the company…

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Tudor Games Review: Game development = 135% ROI every 35 days?

Tudor Games provide no information about who owns or runs the company on their website.Speaking only in generalities, Tudor Games claims it’sa large investment developer company, founded in london … (and) has been conducting its work since 2013.A UK incorporate certificate for Tudor Games LTD is provided, however this company was incorporated on April 5th, 2017.A few weeks later the Tudor Games website domain (“tudor-games.org”), was privately registered on April 22nd, 2017.There is no evidence to suggest that Tudor Games existed prior to April, 2017.According to Google Maps, the London address used to incorporate Tudor Games LTD was a large construction…

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BitBirth Review: 2-10x your bitcoin?

BitBirth provide no information on their website about who owns or runs the business.The BitBirth website domain (“bitbirth.com”) was privately registered on December 30th, 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.BitBirth ProductsBitBirth has no retailable products or services, with affiliates only able to market BitBirth affiliate membership itself.The BitBirth Compensation PlanBitBirth affiliates buy positions in a 3×2 matrix cycler.A 3×2 matrix places a BitBirth affiliate at the top of a matrix, with three positions directly under them:These three positions form…

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BitConnect securities fraud cease and desist issued in North Carolina

With just hours to go before the launch of BitConnectX, the next incarnation of the BitConnect Ponzi scheme, North Carolina has issued an emergency cease and desist against the company.Filed by the North Carolina Securities Division on January 9th, the cease and desist requires BitConnect immediately ‘cease and desistoffering unregistered securities to the residents of North Carolina.‘Following an internal investigation into BitConnect by the Securities Division the regulator concluded that, if left unchecked, BitConnect would result in “irreparable harm to the public”.The cease and desist names BitConnect Trading LTD, BitConnect LTD and BitConnect Trading LTC as respondents. All three entities are…