IGOFX Review: 10-30% monthly forex Ponzi ROIs

March 3, 2017 mlmdetective 0

There is no information on the IGOFX website indicating who owns or runs the business.The IGOFX website domain (“igofx.com”) was first registered on August 13th, 2012.The domain registration were last updated on February 16th, 2017. The IGOFX domain registration is set to private, providing no information on who owns it.Under the company name “IGO Global Limited”, IGOFX have registered themselves as a “dealer in securities” in Vanuatu.That IGOFX have used a shell company to register with the Vanuatu Financial Services Commission is highly suspicious.Alexa currently estimate that Malaysia is the largest source of traffic to the IGOFX domain (55%). China is…

iPro Network Review: Pro coin cryptocurrency with cashback

March 3, 2017 mlmdetective 0

The iPro Network website provides no information about where the company is based out of. It does however name Armando Contreras as iPro Network’s CEO.Curiously, the iPro Network website claims Contreras (right) has owned ‘multinational businesses in various industries Travel, Insurance, IT, and Live Event Conference‘. He also purportedly ‘over 15 years experience in direct sales industry‘.Yet I couldn’t find anything about Contreras non-MLM or MLM businesses. That’s pretty strange for “over 15 years” of network marketing experience.I’m not saying Contreras’ corporate bio is completely made up, but the lack of verifiable third-party information (or even a professional footprint) is highly suspicious.Read…

3 million Nigerians lose $57 million in MMM Nigeria collapse

March 3, 2017 mlmdetective 0

The Nigerian Deposit Insurance Corporation has revealed that an estimated three million Nigerians lost over $57 million USD in the MMM Nigeria collapse.Speaking at an International Trade Fair on Thursday, Hadi Suleiman, NDIC’s Deputy Director of Corporate Affairsexpressed regrets that Nigerians patronised the scheme despite repeated warnings from the Central Bank of Nigeria.The Ponzi scheme is the phenomenon of illegal fund managers, popularly called ‘Wonder Banks’, which have continued to defraud unsuspecting members of the public of their hard earned money.This phenomenon has been a source for concern because despite our repeated warnings over the years, some members of the public have…

2by3 Matrix Club Review: 2×3 matrix bitcoin gifting

March 2, 2017 mlmdetective 0

There is no information on the 2by3 Matrix Club website indicating who owns or runs the business.The 2by3 Matrix Club website domain (“2by3matrix.club”) was privately registered on February 17th, 2017.A 2×2 Matrix Club that appears to have used the same backend was launched earlier this month. 2by3 Matrix Club appears to be run by the same admin(s).Alexa statistics for the 2by2 Matrix Club website suggest the launch was a flop. This likely promoted the launch of 2by3 Matrix Club.As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining…

Infinity BTC Review: 2×5 matrix-based bitcoin gifting

March 2, 2017 mlmdetective 0

There is no information on the Infinity BTC website indicating who owns or runs the business.The Infinity BTC website domain (“infinitybtc.com”) was registered on January 6th, 2017. Jairo Enrique Cruz Feria of “Webzone Colombia” is listed as the owner, with an address in Satandar, Colombia also provided.Webzone Colombia appears to be Colombian web design company. The Infinity BTC website uses Webzone Colombia’s name-servers, however whether Feria owns Infinity BTC or is just working for whoever does is unclear.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…

Renu Sharma granted bail because teachers can’t commit fraud

March 2, 2017 mlmdetective 0

The one person who might have led authorities to Manoj Kumar’s stashed Ponzi funds, has been granted bail.Renu Sharma, wife of Manoj, was arrested by authorities last October. In January the EOW filed a chargesheet against Renu, accusing her of laundering over a hundred million USD.Renu was a signatory and Director of Tulsiyat Tek Pvt Ltd, Tulsient Information Systems Pvt Ltd and Seven Rings Education Pvt Ltd, all of which were used to launder Speak Asia investor funds.The EOW alleged that since 2003 the group along with another accused, Ramnivas Pal, and others were involved in floating different fraudulent schemes in…

Engofor under investigation by AFM, suspends withdrawals

March 1, 2017 mlmdetective 0

Engofor began life as Cryptocoins Invest back in June last year.Citing an attack by “hackers”, CryptoCoins Invest collapsed and was relaunched as Engofor in December.On February 16th Engofor suspended affiliate withdrawals. Now it has been revealed the company is under investigation by the Netherlands Authority for the Financial Markets.For those unfamiliar with the company, Engofor solicit investment of $10 or more on the promise of daily and monthly ROIs.The only verifiable source of revenue entering Engofor is affiliate investment, making it a Ponzi scheme.As per their website, the Dutch Authority for the Financial Markets (AFM) regulate the Netherlands savings, investment, insurance and loans…

Scoville reveals Ernie Ganz keeping Traffic Hurricane Ponzi funds

March 1, 2017 mlmdetective 0

Relationships between scammers are fickle at best. Throw in a bit of Ponzi greed, potentially millions of dollars and a list of people who’ve bought into math-breaking ROI lie, and all bets are off.As a result of the SEC lawsuit against Traffic Monsoon last year, owner Charles Scoville had his assets frozen. Rather than get an honest job to support himself in the meantime, Scoville sought out donations to fund his legal defense.In the immediate aftermath of the SEC shutdown, Ernie Ganz launched Traffic Monsoon Plus.Ganz (right) was Scoville’s right-hand man in Traffic Monsoon such to the extent Scoville named him…

CryptoMaxx Review: Crypto Mafia reboots after collapse

March 1, 2017 mlmdetective 0

There is no information on the CryptoMaxx website indicating who owns or runs the business.The CryptoMaxx website domain (“cryptomaxx.com”) was privately registered on February 10th, 2017.The CryptoMaxx website domain currently uses name-servers hosted on the Crypto Mafia server. This requires admin permissions, meaning CryptoMaxx is being run by the same people behind Crypto Mafia:This is further confirmed by a visit to the Crypto Mafia website, which now redirects to CryptoMaxx.Crypto Mafia was a bitcoin gifting scheme launched in early January by Ben Oberg. Oberg was still promoting Crypto Mafia up until early February, at which point it was relaunched as CryptoMaxx.Read…

Bitqyck Review: Calorchi relaunched with Bitqy cryptocurrency

March 1, 2017 mlmdetective 0

Bitqyck operate in the cryptocurrency MLM niche and are based out of Texas in the US.The Bitqyck website identifies Sam Mendez as co-founder of the company. The other QyckBit co-founder(s) is/are not disclosed.Mendez first popped up on BehindMLM’s radar as a co-founder of My Shopping Genie back in 2011.Following a six-month period during which My Shopping Genie failed to pay affiliates, the company collapsed in mid 2012.In 2014 Mendez reemerged as the co-founder of 15 Winks, a subscription-based mobile dating app.In 2016 Mendez launched Calorchi, a cryptocurrency based e-commerce platform.Alexa traffic statistics for the Calorchi website suggest the company collapsed in the second half…