MLM Detective POSTS

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BitCase Review: Three-tier bitcoin investment Ponzi fraud

BitCase provide no information on their website about who owns or runs the business.The BitCase website domain (“bitcase.biz”) was privately registered on November 8th, 2017.The official BitCase Facebook group was created by an account bearing the name “Mark Rogers” on November 9th.The Mark Rogers account itself is bogus, having only been created around the same time (no content other than BitCase promotion).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.BitCase ProductsBitCase has no retailable products or services, with affiliates only able to…

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PayToday Review: Sergey Frolov launches 3rd Ponzi in as many weeks

Pay Today provide no information on their website about who owns or runs the business.The Pay Today website (“paytoday.house”) was registered on November 2nd. Sergey Frolov is listed as the owner, with an address in Saxony, Germany also provided.Frolov first appeared on BehindMLM last month as the owner of the Ensis Ponzi scheme.Ensis launched in late October and advertised a 150% daily ROI. A visit to the Ensis website today reveals it has been suspended by its hosting provider.Frolov also owns Stargate LTD, another recently launched Ponzi scheme.Frolov provides a corporate address for PayToday in the UK. A bogus UK incorporation…

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Net-winners still trying to weasel out of TelexFree securities fraud case

Four and a half years after the SEC shut it down and with one of its founders in jail for wire fraud, you’d think TelexFree’s net-winners wouldn’t have a leg to stand on.Not these shameless scammers.With criminal proceedings against James Merrill concluded and Carlos Wanzeler a fugitive in Brazil, the SEC’s civil case against TelexFree’s top net-winners resumed.Named as defendants in the SEC’s case are Faith Sloan and Santiago De La Rosa, who to this day deny responsibility for their role in the $3 billion dollar Ponzi scheme.Faith Sloan’s filings in the SEC’s case are a typical reflection of the mentality those…

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Invia World Review: 36 month crypto mining ROI & pyramid recruitment

Invia World provide no specific information on their website about who owns or runs the business.The company claims to be based out of Austria and made up of ‘a group of investors, technicians and people who have been dealing with digital currencies and cryptomining for years‘.Unfortunately being based in Austria means most of the Invia World marketing material is in German.One affiliate presentation in English however cites Daniel Zdesar (right), Stefan Huber and Stefan Scharfl as “Invia staff”.Public records for Invia GmbH list Zdesar (51%), Huber (5%) and Scharfl (44%) as the sole three shareholders of the company.Holding 51% of issued…

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DasCoin CEO threatens journalist over comparison to OneCoin

DasCoin CEO Michael Mathias is furious over comparisons of his company to OneCoin.Acknowledging that OneCoin is unable to ensure ‘compliance with US laws and regulations’, Mathias insists his DasCoin and OneCoin are ‘completely separate entities with absolutely no affiliation or connection or business association with each other.‘Personally I wasn’t aware of anyone claiming otherwise.Earlier this year a blurry photo of Mathias with Maltese Prime Minister Joseph Muscat emerged on social media (photo right, with Mathias left and Muscat right).Net Leaders affiliates were quick to cite the photo as proof of pending collaboration with the Maltese government.This attracted the attention of Malta…

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BTC Global Team Review: 14% weekly ROI bitcoin Ponzi scheme

BTC Global Team provide no information on their website about who owns or runs the business.The company does however claim to be ‘the marketing arm of Steven’s Trading business.‘We are backed by our founding trader at Steven Twain.Steven has 6 years of experience trading binary options with consistent success, over the last 3 years he has started providing trading services for other large investors ($10,000+ only).(Our) group negotiated an amazing deal with Steven to get access to his trading services.Twain’s photo on the BTC Global Team website corresponds to the since deleted @steventwain22 Instagram account.Starting around two years ago, Twain used his…

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iMarketsLive pyramid warning issued in Curaçao and Sint Maarten

Although iMarketsLive has made efforts to address a potential lack of retail sales, unregistered securities is still an ongoing compliance issue.Last month Colombia issued an illegal investment warning against the company, with the Central Bank of  Curaçao en Sint Maarten this month following suit.On September 22nd the Centrale Bank van Curaçao en Sint Maarten issued an iMarketsLive consumer warning;iMarketsLive and related entities … is not supervised by the CBCS.Please note that trading in the FOREX market has many and large risks associated with it.Furthermore, the proposed program that this entity is offering has similarities with a pyramid scheme. Since iMarketsLive does not…

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Declaration letters sought in Chris Principe’s OneCoin defamation case

Earlier this year Chris Principe sued Timothy Curry for losses in excess of $75,000.In his lawsuit Principe alleges Tayshun publicly blasting him for his involvement in the OneCoin Ponzi scheme resulted in damages to his reputation.Dating back to a dubious Feb 2016 Financial IT cover featuring OneCoin founder Ruja Ignatova, Principe’s involvement in the promotion of OneCoin has been well documented.Principe’s complaint details damages to his reputation as a result of his alleged involvement with OneCoin.Ironically Skyway Capital, the company Principe claims he lost a PR deal with, is also a Ponzi scheme.Principe’s lawsuit was filed in May this year and…

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Ponzi and pyramid scams aren’t an American problem

Despite every Ponzi scheme professing to offer its own unique spin on the model, the underlying mechanics of the scam remain the same.New money enters the scheme, primarily through new investors, which is then used to pay off those who have already invested.With this a Ponzi scheme in its simplest form and easily identifiable, today scams go to great lengths to disguise the flow of money.None of that however changes the end-result of a Ponzi scheme however, which is rooted in mathematical certainty.That being no matter how much is or isn’t promised, a Ponzi scheme can only pay out as much money…

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Bielefeld Prosecutor, Munich Police Commissioner deny Ignatova arrest

Since Nbox broke the news that Ruja Ignatova had allegedly been arrested last Saturday, verified information related to the arrest has been slow to surface.Thus far we have The Gerlach Report claiming Ignatova was indeed arrested, and is being held at Stadelheim prison in connection to a fraud case in Bielefeld.Countering this is the law firm Schulenberg & Schenk, who have previously represented OneCoin’s interests in Germany.Schulenberg & Schenk told the online publication MLM Worldwide they’d confirmed Ignatova wasn’t being held at Stadelheim prison. They’d also purportedly confirmed Ignatova hadn’t been arrested in connection to the Bielefeld fraud case.Overnight three important documents have…