MLM Detective POSTS

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Is Wealth Generators registered to offer securities through Investview?

On the footer of the Wealth Generators website you’ll find the notice:Wealth Generators LLC is a wholly owned subsidiary of Investview (OTC:INVU)Investview is a Nevada corporation that actually operates out of Utah, run by Ryan Smith, Annette Raynor and Chad Miller and Mario Romano.In light of our recent report on Wealth Generators’ Crypto mining package investment offer, the assertion is that Investview being registered with the SEC makes it kosher.Today we dig into Investview’s SEC filings, in an attempt to answer whether Wealth Generators’ investment opportunities are indeed registered securities offerings.As per a press-release issued by Investview, Wealth Generators launched Crypto on…

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Libra Coin Review: 110-240 day ROI MLM ICO lending Ponzi

Libra Coin provide no information on their website about who owns or runs the business.The Libra Coin website domain (“libracoin.io”) was privately registered on November 17th, 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.Libra Coin ProductsLibra Coin has no retailable products or services, with affiliates only able to market Libra Coin affiliate membership itself.The Libra Coin Compensation PlanLibra Coin affiliates invest bitcoin in LBR points. LBR points are generated by Libra Coin and sold for 60 cents to $1 each.Once invested…

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Now Mining Review: Official marketing arm for Genesis Mining?

Now Mining claim to be based out of London in the UK but don’t appear to have any actual business operations there.Nothing comes up for “Now Mining” when you run a UK incorporation search on the company name.Additionally, no contact details are provided on the Now Mining website.The Now Mining website domain (“nowmining.com”) was privately registered on July 27th, 2017.Luis Ortega is identified as the company’s CEO.Ortega (right) appears to be based out of the US (Florida if I’m not mistaken), and doesn’t seem to have an MLM history.For all intents and purposes Now Mining appears to be operated from within…

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Zeek Rewards net-winner clawbacks to be sold to debt collectors

Despite launching some six years ago, net-winners who illegally profited in the Zeek Rewards Ponzi scheme are still being pursued for the money they stole.With determinations of who owes what finalized and a court ruling certifying the amounts legally binding, on December 20th the Receiver shared how the Receivership intends to enforce recovery.According to the Receiver,absent further settlements with the net winners with whom we have not yet settled, we will soon seek to sell the judgments against them to debt collection firms or engage such firms on a contingency basis.Through debt collection agencies, the headache of five years of litigation…

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Wealth Generators Crypto Review: 1200 day altcoin mining contracts

Despite the SEC making it clear that MLM cryptocurrency opportunities are not exempt from securities regulation, some companies don’t appear to have gotten the memo.One of those companies is Wealth Generators, who are currently gearing up to launch their “Crypto” mining contracts.Randy Schrum is a Wealth Generators affiliate who markets the opportunity through his “Occupy Wealth” branding.[7:50] We are Occupy Wealth. We are what we call “a movement”.We break down the barriers for financial wealth. I’m the founder.I’ve got to tell you now, I’ve been on this journey for the last several years and one of the things I’ve always looked…

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TelexFree disputed victim claims resolution approved

Back in October the TelexFree Trustee filed a proposal to resolve some 19,530 disallowed victim claims.Concerned that they might be potentially held accountable for more than they stole, net-winners objected to the Trustee’s proposal.The Trustee responded to these objections, asserting that net-winners had no say or standing in the victim claims process.On December 26th the Trustee’s proposals were signed off on, paving the way for claim resolution.As per the order, the Trustee is nowauthorized to send Participants who filed claims through the Portal established by the Trustee (the “Participant Claimants”) a Proposed Claim Allowance.This means that sometime in early 2018, TelexFree…

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EigenCoin Review: 60 to 299 day variable ROI lending ICO Ponzi

EigenCoin provide no information on their website about who owns or runs the business.The EigenCoin website domain (“eigencoin.co”) was privately registered on April 4th, 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.EigenCoin ProductsEigenCoin has no retailable products or services, with affiliates only able to market EigenCoin affiliate membership itself.The EigenCoin Compensation PlanEigenCoin affiliates invest in EIGC points at a rate of 70 cents to $1.10 each.EIGC points are then “lent” back to the company on the promise of an advertised ROI:invest…

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LoanCoin Review: 90 day lending ICO Ponzi ROIs

LoanCoin provide no information on their website about who owns or runs the business.The LoanCoin website domain (“loancoin.com”) was privately registered on November 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.LoanCoin ProductsLoanCoin has no retailable products or services, with affiliates only able to market LoanCoin affiliate membership itself.The LoanCoin Compensation PlanLoanCoin affiliates invest in LOAN points at a rate of 55 cents to $1.05 each.LoanCoin affiliates then “lend” invested points back to the company on the promise of an advertised…

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Unix Coin Review: “Affordable” altcoin Ponzi lending ICO

Unix Coin provide no information on their website as to who owns or runs the business.The Unix Coin website domain (“unixcoin.com”) was first registered on June 18th, 2016.The registration was recently updated on November 23rd, which is when the current owner(s) acquired it.As late as October, 2017 the Unix Coin website domain was up for sale.At the time of publication Alexa estimate that Vietnam (30%) and South Korea (9.6%) are the largest sources of traffic to the Unix Coin website.Marketing copy on the Unix Coin website strongly suggests that whoever is running it isn’t a native English speaker:Unix Coin is a…

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EcomCash Review: VIP-tiered ICO lending Ponzi

EcomCash provide no information on their website about who owns or runs the business.The EcomCash website domain (“ecomcash.io”) was privately registered on November 26th, 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.EcomCash ProductsEcomCash has no retailable products or services, with affiliates only able to market EcomCash affiliate membership itself.The EcomCash Compensation PlanEcomCash affiliates invest in pre-generated ECIO points.These points are then “lent” back to EcomCash on the promise of a daily ROI.invest $500 to $4999 and receive a 40% monthly ROI…