MLM Detective POSTS

0

eXeR VIP Club Review: Viridi Coin “medical marijuana” pump & dump

eXeR VIP Club provide no information on their website about who owns or runs the business.The eXeR VIP Club website domain (“exervipclub.com”) was privately registered on May 31st, 2017.A diagram on the eXeR VIP Club website suggests its parent company is eXeR Canaplus Ltd:A certificate provided on the eXeR VIP Club website suggests eXeR Canaplus Ltd. was incorporated in the British Virgin Islands on December 28th, 2017.As the above diagram shows, eXeR Canaplus Ltd. operates as a separate company from its own website domain.The eXeR Canaplus Ltd. website domain was registered on November 2nd, 2017.Daniel Pasetti of Fides Invest AG is listed as the owner,…

0

Lyoness changes its name to “myWorld”, will regulators fall for it?

First there was Lyoness.Then, during an investigation by the Norwegian Gaming Board, Lyoness split the MLM side of the business into Lyconet.Based on a ton of marketing material and confusion Norway concluded that, while Lyoness had operated as a pyramid scheme, after splitting up the pyramid issues had been addressed.Hardly. Through Lyconet, Lyoness continued it’s long-running accounting unit Ponzi scheme.Amid ongoing regulatory issues across Europe, Lyoness was dropped for “Cashback World”.Cashback World operates from the Lyoness website, however Lyoness branding has been completely removed and mention of the brand is kept to a minimum.Lyconet still seems to be operating and continues…

0

USI-Tech bail on US and Canadian investors…. again?

Following confirmation its BTC Packages were unregistered securities, USI-Tech announced it was abandoning the US and Canada back in early January.Turns out that was baloney, with USI-Tech once again announcing it is abandoning the US and Canada a few days ago.In a communication to investors on or about April 2nd, USI-Tech wrote;We regret to announce that USI-TECH will no longer operate in the US and Canada due to active participants continuously promoting our products and services incorrectly.With immediate effect we will no longer accept new registrations or purchase of products and services within these jurisdictions.Back in January USI-Tech cited how affiliates…

0

Elepreneurs Review: Pointless Elevacity reboot?

The first thing I noticed upon visiting the Elepreneurs website was mention of Elevacity.Both companies are operated out of Texas, were founded by Rob Oblon and share the same logo branding.BehindMLM reviewed Elevacity in 2015 and concluded that if retail was focused on, the travel-based business opportunity showed potential.Unfortunately that doesn’t seem to have happened, with Elevacity dropping off into obscurity until a few months ago.Alexa traffic estimates show the same February, 2018, growth curve for both the Elevacity and Elepreneurs websites.As of May, 2017, both Elepreneurs and Elevacity are operated through parent company Sharing Services Inc.As of March 1st, 2018,…

0

CGI Limited soliciting gaming investment through US bank account?

Following publication of BehindMLM’s CGI Limited review on February 23rd, the company shut down its Coinsinos website.Prior to being shutdown, the Coinsinos website marketed a gaming MLM opportunity tied to, among other things, cryptocurrency cock fighting.Further research reveals that while the front-end of the Coinsinos website has been disabled, affiliate login services (“members.coinsinos.com”) now redirects to the CGI Limited website.As at the time of publication, CGI Limited affiliates are being asked to deposit funds invested into betchip tokens via bitcoin, bitcoin cash, ethereum… or bank wire transfer to a US bank account.CGI Limited’s business model sees affiliates invest up to $50,000…

0

Howard Kaplan folds, settles with Zeek Rewards Receiver for $392,500

Last we checked in, Howard Kaplan’s Zeek Rewards clawback lawsuit had been scheduled for trial this June.Following that order, Kaplan and the Receiver entered into mediation on February 28th.Ongoing negotiations have lead to a proposed settlement, which will see Kaplan return almost four hundred thousand dollars to Zeek Rewards Ponzi victims.The Receiver initiated clawback proceedings against Kaplan (right) in 2014, via a lawsuit that alleged legal negligence.Kaplan, a tax-attorney, initially responded to the lawsuit by claiming immunity.The Receiver argued Kaplan was liable for “bad legal advice” and the case has slowly played out over the past four years.During mediation proceedings, the…

0

VenVici Review: Gtoken points investment, mobile apps & e-commerce

VenVici launched in mid 2014 and operate in the mobile app and e-commerce MLM niches.The company provides no information on its website about who owns or runs it.The VenVici website domain (“venvici.com”) was registered on January 10th, 2014.Wang Ai Ping is listed as the owner through an address in Singapore.The same address is provided on the VenVici website.Possibly due to language-barriers, I was unable to find any connection between VenVici and Wang Ai Ping.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.The…

0

70 QNet victims protest lack of regulatory action in Bengaluru, India

Over the weekend around seventy former Qnet affiliates staged a protest in India’s southern Karnataka state.Angry victims of the scheme claim thousands of QNet investors have been duped across the country, while authorities continue to do nothing.Among the protesters at Bengaluru’s Freedom Park were local doctors, software engineer and private business owners.Collectively they claim to have lost hundreds of thousands of rupees in QNet.They claimed they were forced to bring in more investments from family members and friends to recover their principal investments.They (also) alleged that the company was selling products under the pyramid scheme and collecting investments from people by promising…

0

BitEstate Review: Bitcoin real estate services = 5292% annual ROI?

BitEstate provide no information on their website about who owns or runs the company.The BitEstate website domain (“bitestate.biz”) was privately registered on November 7th, 2017.Although BitEstate claims to be operated out of London, UK, it is far more likely that whoever is actually running it is based out of Russia or the Ukraine.Alexa estimate Russia is currently the largest source of traffic to the BitEstate website (20%).Russian is an offered language on the BitEstate website. BitEstate also operate a VKontakte social media account, which the company publishes content to in Russian.As always, if an MLM company is not openly upfront about…

0

Social Profimatic Review: 8% daily bitcoin/litecoin Ponzi scheme

Social Profimatic provide no information on their website about who owns or runs the business.The Social Profitmatic website domain (“socialprofitmatic.com”) was privately registered on February 18th, 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.Social Profimatic ProductsSocial Profimatic has no retailable products or services, with affiliates only able to market Social Profimatic affiliate membership itself.The Social Profimatic Compensation PlanSocial Profimatic affiliates invest $10 or more in bitcoin and/or litecoin on the promise of an 8% daily ROI.There doesn’t appear to be an…