MLM Detective POSTS

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Turkish authorities name and shame 19 audited pyramid schemes

The collapse of the Farm Bank Ponzi scheme in Turkey has sparked investigations into sixty-five companies.Thus far thirty investigations have been completed, with the Ministry of Trade claiming nineteen of the companies investigated are pyramid schemes.Farm Bank (Çiftlik Bank) launched in 2016 as an app-based Ponzi scheme that modeled itself on the popular Farmville game.Farm Bank investors downloaded the game and invested in “virtual animals and produce”.By selling “virtual crops” they generated in-game, Farm Bank investors were pitched returns of 200% within a year.CEO Mehmet Aydin (right) claimed investor funds would be used to purchase “agricultural investment”.As recently as December Aydin was…

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Scott Warren endorses Crypto World Evolution unregistered securities?

Scott Warren is a named partner in the Wellman & Warren law firm.Warren is widely recognized as an attorney that focuses on MLM related matters… which makes his alleged “endorsement” of Crypto World Evolution all the more puzzling.Crypto World Evolution is an MLM company that popped up on BehindMLM’s radar earlier this year.Up until recently Crypto World Evolution was soliciting investment of up to $10,000 per $500 to $2000 position, on the promise of “automated … consistent, significant 24/7 earnings”.In our Crypto World Evolution we of course pointed out this was a blatant securities offering, and that neither Crypto World Evolution…

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Noble 8 Revolution gearing up to scam “nearly 25,000” investors

Rather than acknowledge a matrix Ponzi cycler is a zero sum game (money in == money out), Blaine Williams, Mark Campese and Jim Anderson are trying to distance themselves from previously made refund claims.In an attempt to get their Noble 8 Revolution cycler Ponzi off the ground, Williams, Campese and Anderson dangled the prospect of $50 refunds to cover Noble 7 Crowdfunding losses.Noble 7 Crowdfunding was a reload Ponzi cycler launched after the Waszupp Global Ponzi cycler collapsed.Blaine Williams and Mark Campese were Global Directors in Waszupp Global and Field Chairmen in Noble 7 Crowdfunding.Jim Anderson was brought on board to launch…

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Nerium seek to stop former Master Distributors from raiding for Jeunesse

One of the more disturbing allegations in Mark and Tammy Smith’s lawsuit against Nerium, was the calculated poaching of Prepaid Legal distributors.When Nerium founder Jeff Olson first approached the Smiths, they claim they were in the midst of a “successful career” with PrePaid Legal.Olson nonetheless eventually convinced the Smiths to jump ship to Nerium, on the promise of a secret backroom deal.In their lawsuit, the Smiths claim Olson was well-aware of the legal repercussions that would likely manifest as a result of Nerium poaching two of Prepaid Legal’s then top earners.After their fallout with Nerium, the Smiths allegedly have signed on…

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Bitcoiin securities fraud warning issued by Tennessee

On March 7th pump and dump altcoin Bitcoiin was issued with a securities fraud cease and desist by New Jersey.Citing that notice, the state of Tennessee has issued its own investor warning against the company.Tennessee stopped short of issuing Bitcoiin with its own cease and desist, but confirmed the company is also operating illegally in the state.None of the companies, promoters, or investments related to Bitcoiin are registered with the Tennessee Department of Commerce & Insurance’s (“TDCI”) Securities Division.The Tennessee Securities Division urges anyone in the state who has invested in Bitcoiin to contact them.So far Bitcoiin and Brand Ambassador Steven…

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W10X Review: Five-tier pass-up pyramid recruitment

W10X provide no information on their website about who owns or runs the business.The W10X website domain (“w10x.co”) was privately registered on April 20th, 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.W10X ProductsW10X has no retailable products or services, with affiliates only able to market W10X affiliate membership itself.W10X affiliate membership provides access to “wealth coaching” and cryptocurrency “E-Learning” courses.The W10X Compensation PlanW10X affiliates pay membership fees and are paid to recruit others who do the same.Direct Recruitment CommissionsFor each W10X…

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How are Payza continuing to provide payment processor services?

Within 24 hours of the Department of Justice and Homeland Security seizing Payza’s .com domain, the payment processor reemerged on a .eu domain.The “payza.eu” domain was registered back in 2012. Payza only activated in response to the domain seizure however on March 21st.Payza’s parent shell company PH Millars is listed as the owner of the domain. The domain itself is registered through the US registrar GoDaddy.Whereas Payza’s clients, many of whom the DOJ and HSI allege are criminals and peddlers of child pornography, were unable to access their wallet balances, after the .eu switch they were again able to transfer funds.Considering…

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OneCash Trading and PBB 150 securities warning issued in Philippines

Two prominent MLM cryptocurrency opportunities in the Philippines have received warnings from the Philippine SEC.According to the SEC’s Enforcement and Investor Protection Department, neither OneCash Trading or PBB 150 are licensed to offer securities in the Philippines.On its website, OneCash Trading pitches itself as “Your Reliable Digital Currency Trading Partner”.ONECASH Trading is an online crypto currency trading platform engage in partnering and educating individual crypto currency traders and first timer traders to venture into a business of buying and selling multi digital currencies such as bitcoin, etherium, ripple, dash, litecoin, monero, SIBcoin, mooncoin, and many others via ONECASH Trading platform and…

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Randy Crosby enters into settlement with TelexFree Trustee

Following on from the news that Randy Crosby had entered into settlement negotiations with the SEC late last year, a stipulated settlement with the TelexFree Trustee has been filed.The Stipulated Settlement is dated March 21st and covers both Randy Crosby and his wife Sonya. The SEC have also signed off on the agreement.As per TelexFree’s records, Randy Crosby’s TelexFree accounts netted him $487,620. Sonya Crosby’s accounts netted $541,450.The settlement agreement will see Randy and Sonya Crosby surrendertwo bank accounts (an SMC Management account holds $50,000, the amount in the other SunTrust Bank account is not specified)a 2014 Porsche Cayenne Diesel SUV…

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Payza website offline, domain seized by DOJ and HSI

US authorities have seized the Payza and AlertPay websites, as part of forfeiture in a $250 million money laundering case filed against co-founders Firoz and Ferhan Patel.The seizures appear to have taken place sometime in the last twenty-four hours, with visitors to both sites either being timed out or redirected to a DOJ/HSI seizure page:As at the time of publication the status of client deposits with Payza is unclear.Over the past few years Payza had slowly been transitioning into a cryptocurrency exchange. In a Facebook post published less than 24 hours ago, Payza boasted it was now accepting over 50 cryptocurrencies…