MLM Detective POSTS

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USI-Tech impose iron curtain of secrecy, invested funds held hostage

With the lies about their working with US regulators exposed, USI-Tech management have switched focus to announcing their next moves on a “need to know” basis”.That is to say unless you’re a gullible dumbass who still believes USI-Tech hasn’t collapsed, management don’t want you knowing what they’re up to.Following reports of ROI withdrawal problems in Australia and continued silence on where US and Canadian invested funds went, USI-Tech’s Horst Jicha has sent out an “important news” update.Most of the update is dedicated to warning USI-Tech affiliates that the company will terminate their accounts.As an executive team, we have been immensely appalled…

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BTC Global Team Ponzi collapses, admin in denial?

BTC Global Team launched in late 2017 and quickly rose to be one of the biggest Ponzi schemes in South Africa.As I write this Alexa have BTC Global Team pegged in the top 1000 visited sites in South Africa, with the country making up 87% of traffic to the BTC Global Team website.On the business side of things, BTC Global Team solicited investment on the promise of a 14% weekly ROI.Payments were made in bitcoin up until a few days ago, with it now appearing that BTC Global Team has collapsed.As tracked by the BTC Global Scam Facebook group and its…

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Stepium Review: Not so American ethereum gifting scheme

Stepium provide no information about who owns or runs the company on their website.The Stepium website domain (“stepiumusa.com”) was privately registered on October 21st, 2017.A marketing video on the Stepium website states the company is a “high-tech American-based international project”.This appears to be baloney, with Stepium only creating the illusion of being a US company.Facts supporting this include:Russian and English being the only provided languages on the Stepium websiteStepium’s social media profiles are written in RussianRussian marketing videos featured on the Stepium YouTube channelAlexa tracking Russia as the only significant source of traffic to the Stepium websiteOh and the voice-over for…

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LendexCoin Review: LDX points ICO lending Ponzi

LendexCoin provide no information on their website about who owns or runs the business.The LendexCoin website domain (“lendexcoin.co”) was privately registered on November 9th, 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.LendexCoin ProductsLendexCoin has no retailable products or services, with affiliates only able to market LendexCoin affiliate membership itself.The LendexCoin Compensation PlanLendexCoin affiliates acquire pre-generated LDX points from the company’s anonymous owners.LDX points are sold to LendexCoin affiliates for 80 cents to $1.20 each.Once acquired, LDX points are “lent” back to…

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TRO sought against BitConnect and YouTube promoter defendants

The widest reaching lawsuit against BitConnect thus far is the first Florida class-action.Filed on January 24th, the initial class-action complaint sought to hold BitConnect, Glenn Arcaro, Nicholas “CryptoNick” Trovato, Ryan Hildreth, Trevon James and Craig Grant liable for $771,000 in BitConnect investor losses.On January 30th an amended complaint was filed, adding Ryan Maasen and Joshua Jeppesen as defendants.Maasen is another YouTube promoter. Joshua Jeppesen is credited as BitConnect’s Development Director.Joshua Jeppesen played an integral role in developing and promoting the BitConnect websites.Without his vital contributions, the BitConnect websites would not have functioned as well as they did and would not have…

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New Level Coin Review: NLC points ICO lending Ponzi scheme

New Level Coin provide no information on their website about who owns or runs the business.The New Level Coin website domain (“newlevelcoin.co”) was registered on November 21st, 2017.Ricardo Joseph is listed as the owner, through an address in Johannesburg, South Africa.I wasn’t able to find anything further on Joseph in connection with New Level Coin or the MLM industry.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.New Level Coin ProductsNew Level Coin has no retailable products or services, with affiliates only able…

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AladinCoin Review: AIC Ponzi points scheme

AladinCoin provide no information on their website about who owns or runs the business.The AladinCoin website domain (“aladincoins.com”) was privately registered on March 21st, 2017.In what appears to be an attempt to feign legitimacy, AladinCoin provide a HSBC UK “Deposit of Fund” certificate on their website.The deposit is for $1 billion USD and was made by Taswin Tarib, an Indonesian citizen, on November 14th, 2017.For some reason AladinCoin took it upon themselves to block out the company owner on the document.Where things get interesting is the provided address for Aladin Coins LLC is in California.According to a Business Entity Search with…

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3 million EUR tied to OneCoin to remain frozen, objection dismissed

An internal investigation by Germany’s top financial regulator revealed OneCoin had received around 360 million euros into German bank accounts.The funds were deposited and transferred through OneCoin’s international money laundering network between December 2015 to 2016.Unfortunately by the time BaFin was in a position to seize the funds, only 29 million EUR remained in the accounts.Nevertheless the 29 million euros were frozen and remain so pending the outcome of an ongoing investigation.OneCoin appears to have petitioned for the release of 3 million EUR, through a complaint filed against BaFin’s freeze order.As I understand it OneCoin, through the shell company, tried to…

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BitXGroup Review: Hourly & daily ROI crypto “mining & trading” Ponzi

BitXGroup provide no information on their website about who owns or runs the business.The BitXGroup website domain (“bitxgroup.trade”) was privately registered on December 23rd, 2017.BitXGroup provide a UK incorporation number on their website, which corresponds to “BitX Group Limited”.BitX Group Limited was incorporated on December 1st, 2017 through a residential address in London.“Kyle Horton” is listed at the sole Director of the company, through another residential address in Hampshire.Given that no information on Kyle Horton and BitX Group Limited exists outside of the incorporation, it’s a good bet Horton doesn’t actually exist.UK incorporation is dirt cheap and for the most part…

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Empire Coin Club Review: Bitcoin package investment Ponzi

Empire Coin Club provide no information on their website about who owns or runs the business.The Empire Coin Club website domain (“empirecoinclub.com”) was privately registered on July 7th, 2017.Despite a website presented in English, the official Empire Coin Club compensation plan is written in Spanish.This suggests that whoever is running Empire Coin Club is likely based out of Europe or South America.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.Empire Coin ProductsEmpire Coin has no retailable products or services, with Empire Coin…