MLM Detective POSTS

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LendConnect Review: LCT points ICO lending Ponzi

LendConnect provide no information on their website about who owns or runs the business.The LendConnect website domain (“lendconnect.io”) was privately registered on November 14th, 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.LendConnect ProductsLendConnect has no retailable products or services, with affiliates only able to market LendConnect affiliate membership itself.The LendConnect Compensation PlanLendConnect affiliates acquire pre-generated LCT points from the anonymous LendConnect owners.LCT points are sold to LendConnect affiliates for between 60 cents and $1.10 each.Once acquired, LCT points are “lent” back…

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Secular Coin Review: English language fail ICO lending Ponzi

Secular Coin provide no information on their website about who owns or runs the business.The Secular Coin website domain (“secularcoin.co”) was privately registered on December 12th, 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.Secular Coin ProductsSecular Coin has no retailable products or services, with affiliates only able to market Secular Coin affiliate membership itself.The Secular Coin Compensation PlanSecular Coin affiliates acquire SECU points from the company’s owners.SECU points are sold to affiliates for 60 cents to $1 each.Once acquired, SECU points…

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BitClub Network ditch bitcoin payments for bitcoin cash

In what appears to be the latest effort to keep the BitClub Network Ponzi scheme chugging along, the company recently announced it would no longer be accepting or paying commissions in bitcoin.In a notice sent to affiliates a few days ago, BitClub Network claimed they would cease accepting and paying commissions in bitcoin as of February 1st.The cited reason for the switch was the rising cost of bitcoin transactions.This is one of the most important decisions we have ever made … Please read and share!We have reached a point where the Bitcoin Blockchain (BTC) has become a major burden.It’s slow, it’s…

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Chris Principe OneCoin defamation case heads to mediation

Following two pre-trial defeats, Chris Principe’s defamation lawsuit against Tim Curry is heading to mediation.As per a January 10th filing, ADR Program staff have assigned a Panel Mediator in the case.As per Californian law,parties in every civil case must participate in one of … three Alternative Dispute Resolution (ADR) options.The ADR option selected for Principe’s case would appear to be “mediation with a neutral selected from the Court Mediation Panel”.After being denied both an entry for default and harassment injunction, Principe will enter mediation with a considerably weaker position.Not to mention the knowledge that the company backing him is in crisis, and…

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IdeaCoin Review: “IdeaBot” ICO lending Ponzi

IdeaCoin provide no information on their website about who owns or runs the business.The IdeaCoin website domain (“ideacoin.co”) was privately registered on October 19th, 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.IdeaCoin ProductsIdeaCoin has no retailable products or services, with affiliates only able to market IdeaCoin affiliate membership itself.The IdeaCoin Compensation PlanIdeaCoin affiliates acquire pre-generated IDEA points from the company’s owners.IDEA points are sold to IdeaCoin affiliates for 85 cents to $1.05 each.Once acquired, IDEA points are “lent” back to IdeaCoin…

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USI-Tech management ignore US/Canada, focus on rest of world

If it wasn’t already obvious that USI-Tech management had no intention of addressing regulatory compliance in the US and Canada, communication of renewed promotional efforts elsewhere in the world have all but confirmed it.On December 20th the Texas Securities Board sent shock waves through the MLM cryptocurrency Ponzi scene by issuing USI-Tech with a securities fraud cease and desist.USI-Tech had ten days to request an emergency hearing, which would have required them to make a showing of good faith in an attempt to have the cease and desist lifted pending a hearing on the matter.That deadline came and went, with the…

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BankCoin Review: “AI Trading Bot” BANK points ICO lending Ponzi

BankCoin provide no information on their website about who owns or runs the business.The BankCoin website domain (“bankcoin.io”) was privately registered on August 15th, 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.BankCoin ProductsBankCoin has no retailable products or services, with affiliates only able to market BankCoin affiliate membership itself.The BankCoin Compensation PlanBankCoin affiliates acquire BANK points from BankCoin.BankCoin sell BANK points to affiliates for 50 cents to $1.20 each.Once acquired, BANK points can be invested with BankCoin or “lent” back to…

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To promote DagCoin, Igor Alberts slams Ponzi he earned millions in

Last weekend Igor Alberts fronted a DagCoin recruitment event in Tallinn, Estonia.His marketing strategy?Slamming the Ponzi scheme he’s stolen millions of dollars through.Despite BusinessForHome diligently celebrating Alberts purportedly still earning $2.4 million a month through the OneCoin as at December 31st, 2017, sometime over the past two weeks Alberts ditched OneCoin for DagCoin.For those unfamiliar with the business, DagCoin is essentially a OneCoin clone with respect to its MLM offering.DagCoin was launched by a former top European OneCoin investor after the company indefinitely suspended ROI withdrawals last January.After a rambling introduction from fellow former OneCoin scammer Kari Wahlroos, Alberts scrambles onto stage…

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PagareX Review: PGX points ICO lending Ponzi

PagareX provide no information on their website about who owns or runs the business.The PagareX website domain (“pagarex.com”) was privately registered on December 6th, 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.PagareX ProductsPagareX has no retailable products or services, with affiliates only able to market PagareX affiliate membership itself.The PagareX Compensation PlanPagareX affiliates acquire pre-generated PGX points from the company’s owners.PGX points are sold to PagareX affiliates for between $1 and $2.50.Once acquired, PGX points are “lent” back to the company…

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BitSolid Review: 90-day AI bot “hedge fund” Ponzi ROIs

BitSolid provide no information on their website about who owns or runs the business.The BitSolid website domain (“bitsolid.io”) was privately registered on September 5th, 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.BitSolid ProductsBitSolid has no retailable products or services, with affiliates only able to market BitSolid affiliate membership itself.The BitSolid Compensation PlanBitSolid affiliates invest 0.003 BTC or more of bitcoin on the promise of a daily ROI for 90 days.Referral commissions on invested funds are paid out down three levels of…