MLM Detective POSTS

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Russell Whitney settles MOBE fraud with FTC, stripped of assets

For his part in scamming consumers through MOBE, the FTC named Russell Whitney as a defendant in their fraudulent business lawsuit.Rather than defend the FTC’s allegations and clear his name, Whitney has instead opted to reach a settlement.
As per the proposed settlement, Whitney (right) acknowledges that

the FTC has sufficiently demonstrated that Defendant Whitney has engaged and is likely to engage in acts or practices that violate … the FTC Act, and that (the FTC) is therefore likely to prevail on the merits of this action
The FTC has sufficiently demonstrated that immediate and irreparable harm will result from Whitney’s ongoing violations of…

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Matt Lloyd heading towards MOBE fraud settlement with FTC

As expected, rather than fight the FTC’s allegation that MOBE was a $125 million dollar fraudulent business, owner and CEO Matthew Lloyd McPhee appears to be heading towards a negotiated settlement.Settlement negotiations between Lloyd and the FTC at this stage are well underway but the outcome is still uncertain.
Nevertheless, the FTC appear confident of reaching a settlement.
Defendants McPhee and (Susan) Zanghi have both indicated that they would like to discuss resolving all the claims against them and the FTC, and these defendants have had some preliminary discussions with the FTC regarding settlement that are promising.
So much so that the FTC has taken…

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Invia World banned in Austria for operating an “illegal business”

Invia World was launched amid the collapse of the Questra World Ponzi scheme.Headquartered in Austria and run Daniel Zdesar, who headed up Questra World’s Austrian chapter, Invia World promises a 36 month ROI on individual investments of up to €25,000 EUR.
Following an internal investigation, on May 29th Austria’s Financial Market Supervisory Authority banned operation of Invia World.
The FMA claim Invia World are illegally offering financial services in Austria, by way of an “alternative investment fund”.
This contravenes Austria’s Alternative Investment Fund Manager Act, making Invia World an “illegal business”.
This is effectively Austria’s version of an unregistered securities offering, as Invia World is not ‘licensed…

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Sean Brown reaches Digital Altitude fraud settlement with FTC

A third Digital Altitude defendant, Sean Brown, has reached a settlement agreement with the FTC.In line with previously reached settlements with The Upside LLC and Morgan Johnson, Brown’s settlement has been submitted to FTC Commissioners for approval.
Approval was granted for both The Upside LLC and Morgan Johnson’s submitted settlements, with a decision on Brown’s proposed settlement expected no later than September 7th.
If approved by the FTC Commissioners, a motion requesting approval of the reached settlement will then be filed – at which point the details of the agreement are made public.
In the meantime the FTC has requested a stay on proceedings…

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FundsFact Review: 120%-150% ROI adcredit Ponzi scheme

FundsFact provide no information on their website about who owns or runs the company.The FundsFact website domain (“fundsfact.com”) was privately registered on March 10th, 2018.
The official FundsFact Facebook group has three admins; Martha Hughes, Honey Arbi and C Jacinth Samuel Raj.
Hughes and Arbi appear to be dummy account, leaving Raj (right) as the likely owner of the company.
According to his Facebook profile, Raj is based out of Chennai in the Indian state of Tamil Nadu.
It’s probably a safe bet that whoever is behind the other two dummy FundsFact admin accounts are also based out of India.
As always, if an MLM company…

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Biteroi Review: Cookie-cutter crypto trading Ponzi scheme script

Biteroi provide no information on their website about who owns or runs the business.The Biteroi website domain (“biteroi.com”) was privately registered on March 30th, 2018.
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.
Biteroi Products
Biteroi has no retailable products or services, with affiliates only able to market Biteroi affiliate membership itself.
The Biteroi Compensation Plan
Biteroi affiliates invest funds on the promise of a “3% to 3.83% per day” ROI.

invest $25 to $50,000 and receive a 3% daily ROI for 60 days (180%)
invest $100 to…

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Kuvera Global’s individual mining lie exposed, same old cloud mining

At the heart of Kuvera Global’s “we don’t need to register with the SEC” pseudo-compliance, is the claim that their mining services are provided on an individual basis.A Kuvera Global affiliate invests in a graphics card, Kuvera Global set that up and then run it to generate a ROI.
We offer Crypto Mining Packages that consist of computer/GPU hardware, operation and maintenance services to provide individuals access to crypto mining.
Our mining hardware (hosting) facility is arranged through contractual partnership and located in Romania.
Each GPU processing card is specific to the package purchased, is individually serial numbered, and the customer may request their…

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USFIA Receiver seeks 90 day victim claim submission extension

Despite being able to file claims since April, a surprisingly small number of victims have thus far sought to recoup their losses.Owing to a “substantially lower than anticipated” number of submitted claims, the Receiver is seeking a 90 day submission extension.
As per the court’s original March order, June 29th was the final day USFIA victims could file their claims.
Despite financial records revealing tens of thousands of victims, since then only “a few thousand” have filed claims.
Analysis of communication between the Receiver and USFIA Receivership identified technical issues and difficulty providing accurate information as common problems.
Another disturbing reason is misinformation reportedly spread by…

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Xtreme Green Review 2.0: Eco auto additives with no demand?

About a week ago I received a legal threat from Xtreme Green CEO Lawrence Kahn.
Linked to in Kahn’s letter was our 2014 Xtreme Green review.
Kahn claimed our review was causing Xtreme Green to suffer ” injury from the loss of sales” and that if we didn’t remove our review, we “may be deemed liable” for their losses.
In my response, I pointed out that the statute of limitations had long-since expired in any US jurisdiction.
Not withstanding that our review was written in good faith, date-stamped and accurate as at the time of publication.
I informed Kahn (right) that if Xtreme Green had changed its…

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SpeedFlow Review: Six-tier 2×2 matrix cycler Ponzi

SpeedFlow provide no information on their website about who owns or runs the business.The SpeedFlow website domain (“speedflow.org”) was privately registered on March 16th, 2018.
At the time of publication Alexa estimate Brazil (24%) and Russia (17%) are the two largest sources of traffic to the SpeedFlow website.
A corporate address in Gibraltar is provided on the SpeedFlow website, however further research reveals it to be virtual in nature.
Marketing copy on the SpeedFlow website and in the compensation plan suggest that whoever is running the company is not a native English speaker.
Due to a generous reward, even a lazy person will earn money…