MLM Detective POSTS

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Glenn Arcaro equates BitConnect to gambling, argues not a security

Glenn Arcaro has moved to dismiss a class-action lawsuit filed by BitConnect victims.Arcaro, who went into hiding just before BitConnect collapsed earlier this year, dismisses victims of the multi-billion dollar Ponzi scheme as “disappointed gamblers”.
In a Motion to Dismiss filed on August 17th, Arcaro challenges allegations that BitConnect was a “scheme to defraud cryptocurrency speculators”.
Bearing in mind he’s BitConnect’s top US net-winner, Arcaro argues that laws cited in the class-action “do not apply to him” and that he has “no colorable legal responsibility” for his conduct.
Through promotion of BitConnect, Arcaro is believed to have made off with millions upon millions of dollars of fraudulently…

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Top BitConnect affiliate arrested at Delhi airport, India

A top Indian BitConnect investor was arrested at Delhi airport on Saturday.Divyesh Darji was apprehended following a look-out notice issued as part of an ongoing investigation.
The Indian investigation has revealed BitConnect was launched as an attempt to circumvent regulation concerning black money.
In late 2016, the Indian government announced the demonetization of  ₹500 and ₹1000 notes. This was done in an attempt to combat a thriving shadow economy and ‘use of illicit and counterfeit cash to fund illegal activity and terrorism‘.
In an attempt to launder black money through cryptocurrency, BitConnect was launched in Surat, a city in the Indian state of Gujarat.
Darji was arrested…

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iBull Trade Review: Twelve-month ROI crypto mining Ponzi scheme

The iBull Trade website identifies Salvatore Tagliavia, Giuseppe Mancino and Stefano Soldi as co-founders of the company.Of the three iBull Trade co-founders, Tagliavia appears to be running the show. Tagliavia is based out of Bulgaria, which is presumably where iBull Trade is operated from.
The iBull Trade website states the company
began in 2009 when with some entrepreneurs and who were investing in cryptocurrencies.
After a while, they found a way in which they could to create a more stable management of income lasting over time but always very profitable.
So a few years later, precisely in 2011, with the contribution of the European Community and…

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ExoCoin Review: Two-tier EXYS and EXO points lending Ponzi

ExoCoin provides no information on their website about who owns or runs the business.The ExoCoin website domain (“exo-coin.io”) was privately registered on February 15th, 2018.
Language on the ExoCoin website (excessive use of “have”) suggests it was put together by a Chinese-speaking admin.
At the time of publication Alexa cite Nigeria as the largest source of traffic to the ExoCoin website (74%). Indonesia is second coming in at 13%.
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.
ExoCoin Products
ExoCoin has no retailable products or services,…

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Kaching Fund Review: 200 day ROI investment package Ponzi scheme

Kaching Fund cite “James Brown” as founder and CEO on their website.Brown is represented by a very stock-looking image of a businessman, locked hexagon graphic.
The image file used to represent Brown is named “hexperson.png”.
No specific information about Brown is provided and it’s pretty obvious he doesn’t exist.
Kaching Fund also provide bogus image representations for Investor Relationship Agents (none of whose contact information actually works), and fake journalist and developer testimonials (stock images again).
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.
Kaching Fund…

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Crypto15 Review: Todd Hirsch out of jail, straight back to scamming

Crypto15 provides no information on their website about who owns or runs the business.The Crypto15 website domain (“crypto15.com”) was privately registered on August 4th, 2018.
Further research reveals Crypto15 affiliates naming Todd Hirsch as owner of the company.
Todd Hirsch first appeared on BehindMLM’s radar as the admin of Cloud 2×2cycler Ponzi back in 2012.
In early 2013 Hirsch re-emerged as the co-founder of Rocket Cash Cycler(another Ponzi cycler).
Rocket Cash Cycler collapsed in less than a year and was relaunched by Hirsch in early 2014. By mid 2014 Rocket Cash Cycler v2 had also collapsed.
A few months later Hirsch launched BitCoin Cycler, combining the same cycler Ponzi model with…

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Jeunesse settles RICO class-action victim lawsuit for $2.5 million

Following a granted stay last month, a Stipulation of Settlement has been filed in the Jeunesse RICO class-action lawsuit.In 2016 Plaintiffs James Aboltin and Pamela Knight sued Jeunesse for deception.
In the lawsuit Aboltin and Knight alleged Jeunesse was running a “misleading business opportunity”, masquerading as “a legitimate way to make money”.
The proposed class-action settlement covers current and former Jeunesse affiliates who signed up after January 1st, 2010 and

paid for a Starter Kit
affirms they intended to build their Jeunesse business by selling Jeunesse products
never advanced in rank and
earned less in commissions than was paid for a Starter Kit and Jeunesse products

As per the…

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MOBE bilked nun out of $60,000, CFO made death threats (and more)

Since the appointment of the MOBE Receivership, the Receiver has been approached by a wide-range of victims.Virtually all of the consumers with whom the Receiver has communicated did not earn back the amounts they paid to purchase MOBE memberships.
One specific example cited in the Receiver’s Initial Report is a Catholic nun, who purportedly borrowed $60,000 from her family.
At the heart of MOBE was a 21 step series of ‘commercials, narrated by McPhee (and) designed to entice consumers to purchase additional MOBE memberships‘.
Russel Whitney, a MOBE top earner who organized most of the company’s events and charged up to $100,000 for “private…

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USI-Tech scam warning issued in New Zealand

New Zealand’s Financial Markets Authority has issued an investment warning against USI-Tech.Better late than never?
As per the FMA’s August 16th warning;
USI-Tech is not registered on the Financial Service Providers Register to provide financial services in New Zealand.
We consider that the operations of the entity bear the hallmarks of a scam.
We therefore strongly recommend that you do not deal with the entity.
Following a securities fraud cease and desist issued in Texas last year, USI-Tech pulled the plug on their bitcoin package scheme.
Following the typical Ponzi collapse playbook, USI-Tech’s owners Joao Severino, Horst Jicha and Ralf Gold have gone underground.
How much they collectively stole…

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Limbic Arc Review: Get vitamins and nutrients through a mobile app?

Limbic Arc operates in the health and wellness MLM niche and are based out of Utah in the US.The company is owned by Global Unicorn Holdings, a publicly traded company.
The founder and CEO of Limbic Arc is Vaughn Cook.
One of the other companies Global Unicorn Holdings owns is Zyto, also founded by Cook.
Zyto market a “hand cradle” that it claims
measures the body’s galvanic skin response to each unique signature and sends the data directly to the software for analysis.
In 2015 Cook received a warning letter from the FDA.
During an inspection of your firm …  an investigator from the United States Food…