MLM Detective POSTS

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Swiss Gold Global securities cease and desist issued in South Carolina

Swiss Gold Global initially launched in mid 2016 as a $50 a month “premium education program“.When that flopped, the company rebooted itself as a bitcoin mining ROI opportunity a few months later.That business model has now caught the attention of US regulators, promoting South Carolina to issue a cease and desist against Swiss Gold Global on March 9th.On their website, Swiss Gold Global claim their bitcoin mining is provided by Genesis Mining, a third-party non-MLM company.As per an investigation by the South Carolina Securities Division, neither Swiss Gold Global or Genesis Mining are not registered to offer securities in the state.Genesis…

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Frank Calabro Jr. serial scammer cease & desist issued in North Carolina

Frank Edward Calabro Jr. has a history of scamming people dating back to Zeek Rewards and beyond.Since Zeek Rewards was shut down by the SEC in 2012, Calabro Jr. has promoted train wreck after train wreck of collapsed scams – profiting handsomely along the way.It seems the law has finally caught up with Calabro Jr., following a securities fraud cease and desist issued by North Carolina.The North Carolina Securities Division identifies Calabro Jr. as ‘an adult individual residing in Guilford County, North Carolina.‘Calabro has been in the business of affiliate marketing for at least the last five years.Over the past five years,…

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StemTech Chapter 11 bankruptcy now a Chapter 7 liquidation

When BehindMLM neutrally reported on StemTech’s Chapter 11 bankruptcy last year, affiliates were quick to hurl abuse.A reader by the name of “Mike M” demanded westop this madness. This company just filed Chapter 11 Reorganization like thousands of other companies do each year.The purpose is to reorganize the debt of the parent company.The operating subsidiaries aren’t affected at all and the global business isn’t affected at all.Another reader, going by the name “Jen” , claimed we were publishingfake news, another industry rag that should be sued for libel.The “suppliers” referenced by “Oz” are clearly no longer suppliers and the chapter 11 filing…

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WorldVentures lose Ministry of Culture appeal, still a pyramid scheme

WorldVentures was declared a pyramid scheme by Norway’s top MLM regulator back in 2014.WorldVentures appealed the Gaming Board’s decision but open review, the original decision was upheld.The decision saw WorldVentures required to cease business operations in Norway, which at the time was one of their primary sources of affiliate recruitment.Not willing to let that go without a fight, WorldVentures sued the Gaming Board in a Norwegian Trial Court in late 2014.The Trial Court appeal was denied in early 2015.This prompted WorldVentures to sue the Norwegian government, with the Ministry of Culture named as a defendant.In October, 2016, a District Court ruled…

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Bitcoiin securities fraud cease and desist issued by New Jersey

New Jersey is the latest state to enter the cryptocurrency cease and desist fray.On March 7th the New Jersey Bureau of Securities slapped Bitcoiin with a securities fraud cease and desist.Bitcoiin bills itself as ‘a superior or more advanced version of Original Bitcoin‘.Bitcoiin 2Gen, will in fact address current issues that are slowing down the Bitcoin eco-system and the limited opportunity for the enthusiasts to be able to earn by mining either with 1 machine or 1000.BehindMLM reviewed Bitcoiin in early February and concluded it was just another MLM pump and dump altcoin.According to the New Jersey Bureau of Securities, Bitcoiin…

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US regulatory investigation into USI-Tech confirmed

Yesterday we reported on USI-Tech admitting it was using newly invested funds to pay off existing investors.Today we can confirm a US regulatory investigation into the company is underway.Confirmation of a US regulatory investigation comes from USI-Tech affiliate Mike Klingler.Klingler is based out of Oregon and in a post to the Facebook group “USI Discussions”, yesterday announced he’d been subpoenaed by the Washington State Division of Securities.Accordingly Kilingler claims he’s ‘been submitting a number of requested documents to comply‘.They are investigating USI and its promoters.The subpoena had nothing to do with anything specific I had done other than, I think, one…

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USI-Tech confirm BTC Package 2.0 Ponzi scheme

Despite it being pretty obvious USI-Tech has operated as a Ponzi scheme since BTC Packages were released last year, the company maintains it isn’t.Amid an ongoing ROI revenue crisis that has seen daily ROI rates plummet, someone at USI-Tech has inadvertently confirmed it’s a scam.In an update sent out to USI-Tech affiliates sometime over the last 24 hours, the company has revealed its “repayment plan for BTC Pack 1.0”.As per the official company announcement;The income from the direct sale of a BTC 2.0 Package sales is split as follows:– 35% to commissions for the referring upline– 15% for company expenses– ​50%…

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Digital Altitude preliminary injunction granted

Following day two of the Digital Altitude preliminary injunction hearing, the case docket has been updated to reflect the an injunction was granted.Most of the defendants named in the FTC’s Digital Altitude lawsuit have already consented to a preliminary injunction.Holding out was Digital Altitude, owner Michael Force and Mary Dee.As per a March 6th order, the court granted a preliminary injunction against all three defendants.The case docket records states the injunction was granted ‘with modifications as stated on the record‘.A separate and more detailed order will be issued.As at the time of publication the detailed order has yet to surface. Stay…

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William Apostelos’ victims file civil clawback lawsuit

William Apostelos and his wife Connie orchestrated the WMI Enterprises $70 million Ponzi schemeAttached to this was Genesis Acquisitions, a company that attracted our attention in October, 2014.Following an indictment in October, 2015, Apostelos (who also goes by Bill), was sentenced to fifteen years in prison last year.Unfortunately for Apostelos’ victims, the FBI stated there was “no chance of recovering invested funds”.Determined to hold those who stole their money responsible, nineteen victims have taken matters into their own hands.I don’t have specifics of the lawsuit but from a local media report by Dayton Daily News, Apostelos’ victims have filed a complaint…

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Digital Altitude cannot operate lawfully and profitably, says Receiver

Upon being appointed one of the first tasks the Digital Altitude Receiver undertakes is to determine whether the business can continue legally and profitably.As per BehindMLM’s Digital Altitude review, the company’s business model consists of getting people to hand over increasing amounts of money.Those recruited and convinced to pay thousands of dollars in fees earn commissions by recruiting others who do the same.Or as the Receiver puts it;The primary enticement and benefit offered to consumers in exchange for them doing business with the Receivership Entities is the representation that they may make $100,000 or more in 90 days.Once consumers are enticed…