Project Ethereum Review: 2×8 matrix ether gifting

June 2, 2017 mlmdetective 0

Project Ethereum operate in the cryptocurrency MLM niche and name John Johnson as CEO of the company.Johnson is based out of Utah in the US and appears to have worked in the real estate and finance industry (loans) for a number of years.As per Johnson’s Project Ethereum corporate bio;John Johnson has been in sales and marketing for the past two decades. John has started many different companies over the years and also spent time as a consultant for small businesses.John was previously working within a Crypto Currency Platform and realized there as a better way to assist members on building ad…

Cycled Funds Review: $5 in, $152,693 out matrix cycler Ponzi

June 1, 2017 mlmdetective 0

The Cycled Funds website identified the CEO of the company only as “Rold”.The Cycled Funds website domain (“cycledfunds.in”) was registered on April 1st, 2017. Harold Nwabiani is listed as the owner, with an address in Lagos, Nigeria also provided.Presumably “Rold” is an alias of Harold Nwabiani (right).Earlier this year Nwabiani launched MegaPTCCash, a “pay to click” scheme. Today the MegaPTCCash website is unresponsive, suggesting the scheme has collapsed.As far as I can tell, Cycled Funds is Nwabiani’s first MLM venture.Read on for a full review of the Cycled Funds MLM opportunity.Cycled Funds ProductsCycled Funds has no retailable products or services, with…

Matriz Strategy Review: 2×5 matrix bitcoin gifting

June 1, 2017 mlmdetective 0

Matriz Strategy provide no information on their website about who owns or runs the business.The Matriz Strategy website domain (“matrizstrategy.com”) was registered on May 3rd, 2017. Jhoan Smith is listed as the owner, with an address in Cundinamarca, Colombia also provided.As far as I can tell Jhoan Smith (“John Smith”) doesn’t exist and the Matriz Strategy domain registration details are bogus.Marketing videos on the Matriz Strategy website are hosted on a YouTube account bearing the name “Marketing Latino”.Various screenshots of affiliate backoffices on the Marketing Latino YouTube channel and Facebook page suggest the owners of the group are Wilter Amaro Alvarez and/or Antonio…

VictoriaBank dismissal granted, Zeek Rewards Receiver appeals

June 1, 2017 mlmdetective 0

With $13.1 million dollars of stolen investor funds in the balance, the court’s decision to grant VictoriaBank a Motion to Dismiss on May 3rd was pretty unbelievable.Along with dismissing the Receiver’s claims against the bank, the decision would also dissolve the freeze order currently in place.That freeze order is the only thing stopping the $13.1 million dollars disappearing for good.To recap, the Zeek Reciever identified some $23 million dollars of Zeek Rewards investor funds passed through Payza.The Secret Service recovered $8.9 million, with the remaining $13.1 million outstanding.Following the filing of a lawsuit in 2013 seeking to recover the balance, the…

Bank of Macedonia warns OneCoin has “elements of a pyramid scheme”

June 1, 2017 mlmdetective 0

In Macedonia it is illegal to invest in cryptocurrency.Following repeated general warnings about cryptocurrency, the country’s top financial regulator recently cited OneCoin as an example of a pyramid scheme.For those unfamiliar with OneCoin’s business model, affiliates invest in OneCoin points in the hope they’ll be able to flip them at a later date for more than they invested.As part of the company’s MLM operations, OneCoin affiliates are also paid directly and residually when newly recruited affiliates invest.It is likely these recruitment commissions that lead to the National Bank of Macedonia claiming OneCoin has “elements of a pyramid scheme”.The National Bank reiterates…

Global Bitmax Review: 2×3 matrix bitcoin gifting matrix cycler

May 31, 2017 mlmdetective 0

Global Bitmax provide no information on their website about who owns or runs the company.The Global Bitmax website domain (“globalbitmax.com”) was privately registered on March 3rd, 2017.Further research reveals Global Bitmax affiliates naming Mauro Mangibin as owner of the company.Mangibin (right) confirms this on his Facebook profile, as per a May 22nd post advertising Global Bitmax;My First Ever Matrix/Cycler Is in Pre Launch.We tested it, and Positive Result comes out.Two of my Facebook friends already earned $200 each in couple of hours. Trust me this is Moving Very Fast.Mangibin is based out of Marseille, France and has recently been promoting Platinum…

Avalon Life Review v2.0: Dashcoin mining pools & recruitment

May 31, 2017 mlmdetective 0

Avalon Life launched just under a year ago as an altcoin MLM opportunity.Based on the non-publicly tradeable AVLX altcoin, Avalon Life affiliates invested in the hope of flipping the altcoin for a profit. Pyramid recruitment was also evident, with Avalon Life affiliates paid directly and residually to recruit new affiliates.AVLX collapsed and was abandoned about a month after launch. A few months later Avalon Life relaunched itself as a Dashcoin mining opportunity.Today we take a look at and review Avalon Life’s current business model and compensation plan.Avalon Life ProductsAvalon Life claim to “maintain” five Dash mining facilities in Costa Rica and Switzerland.Retail…

OneCoin operating illegally in Belize, issued cease & desist

May 30, 2017 mlmdetective 0

Belize, a tax haven in central America, isn’t really known for regulation. It’s seen more of an “anything goes” type jurisdiction.Nevertheless, the International Financial Services Commissions serves as the country’s top financial regulator.Charged with ‘providing appropriate supervision and regulation of international financial services‘ within Belize, earlier today the IFSC issued a cease and desist to OneCoin.The IFSC’s notice addresses OneLife Network Limited, one of the many companies that make up the OneCoin Ponzi scheme.In the regulatory warning, the IFSC identify OneLife Network Limited as “an international business company registered in Belize”.Despite being a registered international company in Belize however, the IFSC claim OneCoin…

IoniCoin Review: Registered investment bank bitcoin trading?

May 30, 2017 mlmdetective 0

IoniCoin provide no information on their website about who owns or runs the business.Three contact points are provided on the IoniCoin website, Bulgaria, Germany and the UK, however only email addresses and phone numbers are provided.The IoniCoin website domain (“ionicoin.com”) was registered on April 8th, 2017. “Amsters Clark” is listed as the owner, with an address in Birmingham, UK also provided.Further research reveals this address actually belongs to Mailboxes ETC, who provide virtual office mailing addresses. As such it appears IoniCoin exists in the UK in name only.Somewhat curiously, IoniCoin claim to be a “registered investment bank”.Ionicoin Digital Currency LTD is…

Power On Xpress collapses, gears up for 3rd relaunch as “WeROn”

May 30, 2017 mlmdetective 0

So the saying goes, a leopard can’t change its spots.So it is true with many inhabitants of the MLM underbelly, with those seeking to steal money time and time again launching variations of the same scheme.With those running it harboring strong ties to Crypto888 Club, it should come as no surprise Power On Network is now gearing up for its third relaunch within a year.Power On Network initially launched around October 2016. Operating on the basic Ponzi points model, Power On Network affiliates invested in XeCoin points in the hope they’d be able to flip them later for a ROI.XeCoin points…