David Wood claims he can heal cancer, herpes, HIV, AIDS & diabetes

June 11, 2017 mlmdetective 0

David Wood has always come across as a bit of an oddball.Used to the best of his ability to promote Empower Network, it’s resulted in a string of hit and miss marketing attempts over the years.We last checked in on Wood and Empower Network earlier last year. Coming of the back of several personal and relationship issues, Wood appeared to be embracing religion.Appearing on camera in a Facebook video, Wood revealed he’d “hated David Sharpe’s guts for two years”, but was now ready to let it go.David Sharpe is co-founder of Empower Network. He left the company in 2014.At the time…

Ormeus Global Prelaunch Review: 160% ROI “B2x89” trading bot

June 11, 2017 mlmdetective 0

Ormeus Global recently went into prelaunch so specific details about the company, its business model and compensation plan are sketchy.When Ormeus Global intends to launch and whether or not they’ll disclose basic information about the company is unclear, however at this time they are taking sign ups.That means it’s time for an Ormeus Global prelaunch review…The CompanyOrmeus Global provide no information on their website about who owns or runs the business.The Ormeus Global website domain (“ormeusglobal.com”) was privately registered on February 24th, 2017.At the top of the Ormeus Global website is a “login” button, which redirects visitors to the “ormeusbackoffice.com” domain.The…

Documenting the collapse of a bitcoin doubler (GladiaCoin)

June 11, 2017 mlmdetective 0

The MLM underbelly doubler business model is nothing new. Affiliates sign up and invest, with a 200% ROI offered either via a set timetable or open-ended.The only source of revenue to pay the ROI is subsequently invested funds, making every doubler a Ponzi scheme.HYIP scams have been using it with fiat currency for years, however recently there’s been a surge in cryptocurrency doublers.To the best of my knowledge, the first scheme to combine cryptocurrency with the doubler model was GladiaCoin.GladiaCoin launched in March and promised affiliate investors a 200% ROI in 90 days. Run by anonymous scammers, GladiaCoin has since spawned…

Indian authorities hunting six OneCoin affiliate fugitives

June 10, 2017 mlmdetective 0

With twenty-four OneCoin affiliates already behind bars, Indian authorities are closing in on top Indian OneCoin affiliates.The latest out of India is reports that the Economic Offenses Wing are “hunting” four Indian nationals and Mary Beyance and Ereena Andreva.Beyance and Adreva are from Mauritius and Bulgaria. The EOW’s investigation revealed the pair were responsible for for coordinating the laundering of OneCoin stolen Ponzi funds out of India.The money trail in the scam had led the police to two accounts in the name ‘Premium Payment Solution’, where Amit Kedia was the director, while Beyance and Belkinska were the signing authorities.While one of…

Cointherum Review: 90 day bitcoin doubler Ponzi

June 10, 2017 mlmdetective 0

Cointherum provide no information on their website about who owns or runs the business.The Cointherum website domain (“cointherum.com”) was privately registered on May 27th, 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.Cointherum ProductsCointherum has no retailable products or services, with affiliates only able to market Cointherum affiliate membership itself.The Cointherum Compensation PlanCointherum affiliates invest bitcoin on the promise of a 90 day 200% ROI.At the end of the 90 day maturity period, if a Cointherum affiliate wishes to withdraw they must…

Steven Scudder sentenced to 14 months in prison

June 10, 2017 mlmdetective 0

For his part in aiding and abetting William Apostelos to run a $70 million dollar Ponzi scheme, attorney Steven Scudder was criminally charged early last year.Scudder plead guilty to one count of wire fraud in January and was up for sentencing this week.A thirty-eight sentencing hearing saw Scudder sentenced to fourteen months in prison plus two years supervised release.Restitution Scudder will pay back is yet to be decided.William Apostelos, the mastermind behind the Genesis Acquisitions Ponzi scheme, is scheduled to be sentenced on June 30th.Apostelos is facing up to 25 years in prison and a fine of half a million dollars.Several of Apostelos’ family…

BullionVault Review: Gold, silver & platinum marketplace exchange

June 9, 2017 mlmdetective 0

BullionVault is owned by Galmarley Limited, who in turn are a subsidiary of BullionVault LTD.All three are UK corporations with a physical address in London, UK.BullionVault was founded in 2005 and is headed up by Chairman Paul Tustain (right).As per Tustain’s BullionVault corporate bio reveals he was working in the banking sector before getting into gold.Sensing that more people would soon be looking to buy gold (Tustain) started planning BullionVault in 2002.Development of BullionVault, which he funded, started in late 2003, and the BullionVault service was launched in spring 2005 supported by investment from 30 friends, family and business angels.He was…

Pacific Ads Review: Three-tier ad credit cycler Ponzi

June 9, 2017 mlmdetective 0

Pacific Ads provide no information on their website about who owns or runs the business.The Pacific Ads website domain (“pacads.com”) was privately registered on April 4th, 2017.The official Pacific Ads Facebook group has one admin, Shakeel Babar.On his personal Facebook page, Babar has been promoting the Pacific Ads admin account referral link.Shakeel Babar is based out of Malaysia and initially appears to have envisioned his company as another MLM altcoin pump and dump scam:Why Babar scrapped his plans for PCoin is unclear.Babar began promoting Pacific Ads back in April. Prior to that he was promoting The Ads Team, 10 Ads Pay,…

Norwegian Gaming Board requests info on OneCoin affiliates

June 8, 2017 mlmdetective 0

OneCoin’s days in Norway appear to be numbered, following a request to the company’s Norwegian lawyer for information on local affiliates.The Norwegian Gaming Board began investigating OneCoin in early 2016. In April the regulator sent OneCoin a refresher on Norwegian MLM rules and regulations.The regulator followed this up with a request for confirmation the letter had been received, however as of October no reply had been received.In a bit to get more information about the company, the Gaming Board requested an invite to a Norwegian OneCoin event earlier this year in March.OneCoin failed to respond, so the Gaming Board attended of…