Belize issues second OneCoin warning

August 30, 2017 0

In what appears to be a followup to their initial warning back in March, Belize’s International Financial Services Commission has issued a second warning against OneCoin.The IFSC’s first warning identified OneLife Network Limited as “an international business company registered in Belize”.At the time of publication OneLife still provide a corporate address in Belize on their website.The IFSC claimed OneCoin had not obtained a required license and thus was conducting business illegally.Despite representing they cooperate with authorities, OneCoin to date have failed to register with IFSC.As per a new August 25th warning, the IFSC reaffirmOneLife Network Limited … is not licensed by…

NWorld Review: Personal care skin whitening & nutritional supplements

August 29, 2017 0

NWorld, also known as Alphanetworld Corporation, was founded in the Philippines in 2015.The company is registered with the Philippine SEC and appears to be up to date with their registration filings.NWorld operates in the personal care MLM niche and is headed up by President and CEO, Juluis Nolasco (right).According to Nolasco’s NWorld corporate bio, hestumbled upon MLM … more than 15 years ago.I saw how this great opportunity affords people, regardless of age, gender, socioeconomic status and educational background, a fair and promising means to make their lives better.I took the leap of faith and soon found myself engross with this…

$39.1 million returned to Zhunrize Ponzi victims

August 29, 2017 0

Last we checked in the Zhunrize Receiver had sought approval for 2858 victim claim payouts, coming in at $41 million.Zhunrize affiliates had initially filed for $99 million in losses, however $58 million in claims were deemed bogus.On March 10th the Receiver’s request was granted, paving the way for victim claim distribution.Victim checks were sent out early in the second quarter of 2017, with 94% of checks sent out cleared.That represents 2638 of the 2812 claim checks sent out, or in dollar terms $39.1 million out of $41.4 million in allowed claims.In an attempt to have the remaining checks clear, the Receiver…

Xtreme Coin Review: 2×2 matrix bitcoin Ponzi cycler

August 28, 2017 0

Other than claiming to be Xtreme Coin provide no information on their website about who owns or runs the business.The Xtreme Coin website domain (“xtremecoin.com”) was privately registered on May 30th, 2017.This is somewhat ironic, as Xtreme Coin claim it is run by “real people” who “believe in transparency and accountability”.In an Xtreme Coin marketing video titled “Xtreme Coin Launch”, published to Darren Little’s YouTube channel, Ari Maccabi claims[5:33] We found out the main owner of the business is actually the guy behind Ingreso Cybernetico.Ingreso Cybernetico was a matrix cycler Ponzi scheme launched in 2014.Alexa traffic estimates show a sharp decline…

LeaderBit Review: 13% daily bitcoin ROI?

August 28, 2017 0

LeaderBit provide no information on their website about who owns or runs the business.The LeaderBit website domain (“leaderbit.biz”) was privately registered on July 17th, 2017.LeaderBit Limited was incorporated in the UK on July 21st, 2017.The address used to incorporate LeaderBit Limited belongs to Corporation House, who provide company formation and virtual office services.Eddy Smith is listed as the sole Director of LeaderBit, using the same virtual office address.As such it’s highly likely that Eddy Smith doesn’t actually exist. LeaderBit Limited is little more than a shell company that exists in the UK in name only.As always, if an MLM company is…

DasCoin to collaborate with the Maltese government?

August 28, 2017 0

One of the lesser-known MLM Ponzi points schemes out there is Net Leaders.Hitched to DasCoin and initially launched as Coin Leaders last year, Net Leaders is your typical Ponzi points scheme.Net Leaders affiliates invest in DasCoin points on the typical “we’re gunna be the next bitcoin!” promises.DasCoins to date are not publicly tradeable and are completely worthless outside of the Net Leaders MLM opportunity.In what appears to be a blatant attempt at legitimacy by association, last week Net Leader affiliates began claiming future collaboration with the Maltese government.The claims at this stage are based on one photo doing the social media…

BizNet Review: Forex & cryptocurrency trading monthly ROIs

August 27, 2017 0

BizNet operate in the forex and cryptocurrency MLM niche.On the BizNet website Alexander Chebotarev (Technical Director) and Grigory Shemet (Makreting Director) are named co-founders of the company.Other than referral by name in BizNet marketing material, no information on Chebotarev’s or Shemet’s MLM, forex or cryptocurrency trading histories exists.The BizNet website domain (“biznet.pw”) was first registered on March 1st, 2016. The registration details were last updated on January 11th, 2017.Grigoriy Shemet [sic] is listed as the owner, through an address in Saint Petersburg, Russia.The BizNet website itself is hosted in Belize, an offshore tax-haven.BizNet Group LLP was incorporated in the UK on…

Elcore Invest Review: 365 day cryptocurrency trading ROI

August 27, 2017 0

Elcore Invest name Adam Klyaynkhaysler as “head” of the company.No additional information on Klyaynkhaysler is provided, with his MLM history unclear.It’s worth pointing out the name “Adam Klyaynkhaysler” appears only on the Elcore Invest website, which is highly suspicious.The Elcore Invest website domain (“elcore-invest.com”) was privately registered on June 9th, 2017.On its website, Elcore Invest claims to be registered in the Cayman Islands with a head office in Budapest, Hungary.Although Elcore Invest claim the company and Adam Klyaynkhaysler are based out of Hungary, Alexa cite Russia as the largest source of traffic to the Elcore Invest website (47%).Given the lack of information about Klyaynkhaysler provided,…

Bitcoin5 Review: 20 day bitcoin Ponzi ROIs

August 26, 2017 0

Bitcoin5 provide no information on their website about who owns or runs the business.The Bitcoin5 website domain (“bitcoin5.com”) was privately registered on March 28th, 2017.A corporate address in Manchester, UK is provided on the Bitcoin5 website. Further research however reveals this address is actually virtual office space provided by Regus.“Bitcoin 5 Limited” was incorporated in the UK on April 3rd, 2017.Adam Bates is listed as the sole Director of the company, through a different residential address in Manchester.Given the lack of information provided about Bates and the generic sounding nature of the name, it is highly likely that he doesn’t exist.As…

OneCoin warning issued by Luxembourgish financial regulator

August 26, 2017 0

In a (very) brief publication, Luxembourg’s Commission de Surveillance du Secteur Financier has issued a warning against OneCoin.CSSF’s single-sentence warning, issued on August 23rd, reads as follows:The Commission de Surveillance du Secteur Financier (CSSF) warns the public that the entity named Onecoin Ltd., also present on social media under the name Onecoin Luxembourg, is not supervised by the CSS.This is in line with regulatory warnings issued by over a dozen other countries, as authorities around the world brace for the inevitable OneCoin collapse.With no way of tracking investment and recovering funds laundered off to who knows where, authorities outside of Bulgaria…