Questra World and AGAM founder Pavel Krymov arrested in Russia

February 15, 2018 mlmdetective 0

Despite Questra World and Atlantic Global Asset Management attempting to portray themselves as Spanish companies with African ties, it was always obvious that someone from Russia or a neighboring country was pulling the strings.Turns out I was right on the money, following the arrest of Pavel Krymov in Moscow on February 6th.Pavel Krymov, originally from the Ukraine, primarily operated across the Ukraine, Belarus and Kazakhstan.With both the Ukraine and Russia not known for policing Ponzi fraud, you’re probably as confused as I was as to why Russian Vin Diesel Krymov was arrested.Fear not, Russia and the Ukraine are just as lax on…

WCM777 Receivership to wind down over next 60-90 days

February 15, 2018 mlmdetective 0

WCM777 was an MLM Ponzi scheme shut down by the SEC in March, 2014.A Receivership was appointed immediately after and has been overseeing victim refunds from seized assets for just shy of four years.In the Receiver’s February 13th Sixteenth and Final Interim Report, it has been announced the WCM777 Receivership is finally winding down.As at the time of publication there are no outstanding issues pertaining to asset clawbacks.The last clawback action executed by the Receiver saw $80,000 recovered from Huajian Wu and Dack King Lee.In total the WCM777 Receivership was able to return $18.1 million dollars to WCM777 victims.This amount represents…

Three FX United Datuk scammers arrested in Malaysia

February 15, 2018 mlmdetective 0

A few years ago forex MLM Ponzi schemes were all the rage in Malaysia.One of the top companies to dominate the space was FX United.As is custom among Malaysian scams, FX United’s owners went to great lengths to project the company wasn’t Malaysian.This saw the incorporation of United Global Holdings Limited in New Zealand, as well as inconsequential ties to the UK and Australia.Eventually New Zealand wised up to FX United but by then the damage was done.FX United would go on to collapse in early 2017, resulting in over $250 million dollars in losses.Unknown to us authorities in Malaysia continued…

Amzbit Review: Combining Amazon and bitcoin = cash gifting?

February 14, 2018 mlmdetective 0

Amzbit operate in the e-commerce MLM niche and provide a corporate address in Florida on their website.On the “our story” section of the Amzbit website, Burke Hedges and Sean Connors are cited as “the minds behind Amzbit”.Burke Hedges and Sean Connors, the minds behind Amzbit, recognized that greed and corruption had taken over a lot of business and were looking for a positive way to help people earn money while also providing 100% transparency.A chance meeting, that turned into a brainstorming session eventually gave rise to the idea of Amzbit.Burke Hedges is a former top earner in LifeVantage.Following an investigation into…

PinCoin Review: PIN points “Sharing Package” 52 week ROI Ponzi

February 14, 2018 mlmdetective 0

PinCoin provide no information on their website about who owns or runs the business.The PinCoin website domain (“pincoin.io”) was privately registered on November 18th, 2017.Two possibilities are Japan and South Korea. Alexa currently estimate that almost 40% of traffic to the PinCoin website originates out of these two countries.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.PinCoin ProductsPinCoin has no retailable products or services, with affiliates only able to market PinCoin affiliate membership itself.The PinCoin Compensation PlanPinCoin affiliates invest funds in PIN…

TRO denied in broadest BitConnect Florida class-action

February 13, 2018 mlmdetective 0

In contrast to the granting of a Temporary Restraining Order (TRO) against BitConnect in the Kentucky class-action, a Judge has denied essentially the same motion in Florida.On February 5th Defendants Charles Wildes, Franciso Doria, Akiva Katz, James Gurry, Ronald Nelson and Justin Perry filed a motion for an ex parte TRO.On February 8th the motion was denied.In his order Judge Middlebrooks stated the Plaintiffs had ‘failed to show that immediate and irreparable injury, loss, or damage will occur before Defendants are given an opportunity to respond‘.Judge Middlebrooks noted that the Plaintiffs are free to file for a preliminary injunction after service has…

Monat Global Review: “Naturally-based” hair care products

February 13, 2018 mlmdetective 0

Monat Global launched in late 2014 and operates in the personal care MLM niche.The company is owned by the Alcora Corporation, who are based out of Florida in the US.According to the Alcora corporation, the company was initially founded in 2001 as L’EUDINE Global.L’EUDINE Global, was originally established in 2001 as a direct sales company specializing in beauty and wellness with offices in Maracaibo, Venezuela and Miami, Florida.In 2008 we embarked on to another level of fruition in the United States, expanding into a broader conglomerate of brands and transitioning with a new corporate name, Alcora Corporation.The name L’EUDINE now refers exclusively to the…

Infinity2Global motion to dismiss criminal case denied

February 12, 2018 mlmdetective 0

Last June a grand jury returned an indictment against Richard Maike, his wife Angela Leonard-Maike and affiliates Doyce Barnes, Richard Anzalone, Faraday Hosseinipour, Dennis Dvorin, Jason Syn.I’d been following Richard Maike’s case docket and while I was aware the other defendants had separate case dockets, assumed they’d be consolidated.Turns out that’s not the case, so I only just found out about a motion to dismiss being denied.The Infinity2Global indictment stems from an alleged $25 million dollars in fraud that primarily benefited the indicted defendants.On September 26th defendant Doyce Barnes filed a Motion to Dismiss for Failure to State an Offense.Defendants Richard Anzalone…

Diamond Reserve Review: Gem stones = 140% ROI in 20 days?

February 11, 2018 mlmdetective 0

Diamond Reserve provide no information on their website about who owns or runs the business.The Diamond Reserve website domain (“diamondreserve.net”) was registered on December 12th, 2017.Keaton Brooks is listed as the owner, through a residential address in London, UK.Brooks is also listed as the sole Director of Diamond Reserve Group Limited, a UK company incorporated on November 28th, 2017.No information on Keaton Brooks in connection with Diamond Reserve exists outside of the domain registration and UK incorporation.UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.It is far more…

FutureCash Review: FCH points ICO lending Ponzi scheme

February 11, 2018 mlmdetective 0

FutureCash provide no information on their website about who owns or runs the business.The FutureCash website domain (“futurecash.io”) was privately registered on December 2nd, 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.FutureCash ProductsFutureCash has no retailable products or services, with affiliates only able to market FutureCash affiliate membership itself.The FutureCash Compensation PlanFutureCash affiliates acquire FCH points from the company’s anonymous owners.FCH points are sold to FutureCash affiliates for $1 each.Once acquired, FCH points are “lent” back to FutureCash on the promise…