MLM Detective POSTS

0

FX Prog Review: Forex & stocks management = 22% daily ROI?

FX Prog provide no information on their website about who owns or runs the business.The FX Prog website domain (“fxprog.com”) was privately registered on October 19th, 2017.A UK incorporate certificate for “FX Prog Limited” is provided, which corresponds to a October 23rd incorporation.Adam Paul is listed as the sole Director of the company through an address in London.The name is generic enough to cast doubt on whether Adam Paul, as represented by FX Prog, actually exists.A UK incorporation is cheap and easy to provide bogus details on, making it a favorite among scammers attempting to fake legitimacy.As always, if an MLM…

0

Coinbase Service Review: Ponzi scheme not related to known exchange

The Coinbase Service website domain (“coinbaseservice.com”) was privately registered on October 16th, 2017.A UK incorporation certificate is provided on the Coinbase Service website, which corresponds to Coin Base UK Service Limited.Coin Base UK Service Limited was incorporated on October 26th, 2017.Richard Walsh is listed as the sole Director of the company, through an office address in London.A UK incorporation is cheap and easy to provide bogus details on, making it a favorite among scammers attempting to fake legitimacy.On their website, Coinbase claim “Tyrone Lynch” is their founder.No information exists outside of the incorporation linking Tyrone Lynch or Richard Walsh to Coinbase…

0

Questra World collapses, suspends affiliate ROI withdrawals

For all intents and purposes, Questra World, Atlantic Global Asset Management and Five Winds are all the same company.Atlantic Global Asset Management launched first and is/was headed up by CEO Andrey Andreevich Abakumov.Atlantic Global Asset Management affiliates invested funds on the promise of a 300%-500% ROI in seven to eight months.With new affiliate investment Atlantic Global Asset Management’s only source of revenue, it wasn’t long before Questra World was launched.Questra World saw Atlantic Global Asset Management’s Russian roots take a backseat, with the company instead presented with Spanish management.Heading up the facade is Jose Manuel Gilabert, who today continues to front…

0

SEC sues Fort Ad Pays, reveals $38 million dollar Ponzi scheme

Fort Ad Pays was a Ponzi scheme that surfaced in 2015.Run by Pedro Fort, Fort Ad Pays affiliates invested in $1 to $300 on the promise of an advertised ROI of up to 210%.The ruse behind Fort Ad Pays’ business model was ad credit-packs, which provided advertising credits.By using these credits, Fort Ad Pays affiliates could advertise on the Fort Ad Pays website.In late 2015 Fort Ad Pays started to run low on funds. This prompted Pedro Fort (right) to launch The Business Shop.In May 2016 Fort Ad Pays and the Business Shop collapsed. Spanish publication El Pais pegged investor losses at…

0

Fuxion Review: Nutraceutical fusion with affiliate autoship recruitment

Fuxion operate in the health and nutrition MLM niche and appear to be based out of Peru.The company was founded in 2006 by Frank Michell, Derek Michell, Rafael Zuñiga Benavides and Alvaro Zuñiga Benavides.Fuxion officially launched in the US in 2015 and also has offices in Ecuador, Colombia, Costa Rica, Bolivia, Mexico, Panama, Chile, Venezuela, Guatemala and Nicaragua.Alvaro Zuñiga Benavides (right) heads up Fuxion as CEO.As per Benavides Fuxion corporate bio;he has more than 20 years as an entrepreneur in the food and dairy products industry.He has actively participated in the creation and development of several companies in the area of commerce,…

0

Confirmation of Ruja Ignatova’s arrest yet to surface

As I write this, official confirmation of Ruja Ignatova’s arrest has yet to surface.Reports out of Germany are conflicting, with authorities yet to issue an official statement.A few media publications have syndicated the initial Nbox article, but only the Gerlach Report and MLM Worldwide have published new information.According to the Gerlach Report Ignatova was arrested in relation to a an ongoing fraud investigation in Bielefeld.Gerlach report claim Ignatova is being held in a “transport cell” at Stadelheim prison in Munich.Ted Nuyten, who is believed to have received large sums of money from OneCoin and its affiliates in exchange for favorable coverage…

0

Wakaya Perfection barred from pursuing insider trading discovery

In an attempt to support claims of misconduct as the reason affiliates left Youngevity for Wakaya Perfection, the latter began exploring rumors of insider trading.These rumors were explored in depositions of Youngevity affiliates, during which Wakaya pressed them onquestions concerning securities laws of the United States or facts germane to whether any federal securities laws have been violated.Youngevity wasn’t happy about this and filed for a protective order prohibiting Wakaya from further exploring the alleged violations.Wakaya Pefection began exploring alleged insider trading violations during the deposition of Keith Halls, a Youngevity affiliate since 2013.During Mr. Halls’ deposition, counsel for Wakaya, Michael…

0

Ruja Ignatova arrested in Germany, report Bulgarian media

Despite OneCoin being in turmoil following a disastrous ICO that’s not an ICO announcement, there hasn’t been a peep out of management.With Pierre Arens walking out last month, it was expected that at some point Ruja Ignatova would come out of hiding to address OneCoin affiliates.That hasn’t proven to be the case, with a media report out of Bulgaria now claiming she was arrested in Germany a week ago.According to Nbox, Ruja Ignatova (right) was arrested by authorities as she tried to enter Germany.Nbox claims Ignatova was arrested at Munich airport, following an investigation triggered by an unnamed German bank.Nbox’s anonymous…

0

BitFundZA Review: 3×5 matrix bitcoin gifting scheme

BitFundZA provide no information on their website about who owns or runs the business.The BitFundZA website domain (“bitfundza.co”) was privately registered on August 16th, 2017.Further research reveals The BitFundZA website uses a favicon hosted on the Loop and Beyond website domain:A visit to the Loop And Beyond website reveals it to be a 1:1 clone of the BitFundZA website.The Loop and Beyond website domain was registered prior to BitFundZA on July 6th, 2017, suggesting it was a staging site before the main site went live.The Loop and Beyond website domain is registered to Ketan Singh through an apartment address in the…

0

The ICANetwork Review: Three-tier membership pyramid recruitment

Although not directly referenced, various testimonials and promotional material on The ICANetwork website identify Michael Glaspie as Founder and CEO of the company.Glaspie first popped up on BehindMLM’s radar as founder and CEO of Icanget2 last year.Glaspie (right) has been marketed on the internet for a number of years. Numerous marketing material around the internet (likely published by Glaspie himself) claims his online marketing career dates back as far as 1998.Prior to Icanget2 Glaspie was “helping others figure it out” through Team Vinh. The company credited Glaspie as “a friend and equity partner”.A Team Vinh newsletter cites Glaspie as being on Team Vinh’s…