Ominto (Dubli) to delist itself from Nasdaq

May 15, 2018 mlmdetective 0

In a May 14th press-release, Dubli (trading as Ominto) has announced it will voluntarily delist itself from the Nasdaq Capital Market.The official reason for the voluntary delisting is ongoing non-compliance with regulatory filing requirements.
The Company’s decision to withdraw its common stock from listing on the Nasdaq Capital Market is due to the fact that the Company has been unable to timely file its periodic reports for the fiscal year ended September 30, 2017, and the quarter ended December 31, 2017.
As previously disclosed, on each of January 3, 2018, February 22, 2018 and March 1, 2018 the Company received a letter from Nasdaq indicating that the Company is not in compliance…

Bitcoiin scammers attempt to manipulate B2G onto Binance exchange

May 8, 2018 mlmdetective 0

One of the core problems a Ponzi points MLM cryptocurrency faces is getting their altcoin listed on a public exchange.In addition to hitching B2G to Dragon Mining Tech and several “scam within a scam” companies (Bitcoin Trading World, Crypto Mining Space, Palilula Mining etc.), Bitcoiin have been heavily touting public exchange adoption over the past month.If the scammers behind Bitcoiin and Dragon Mining Tech are to be believed, B2G is set to debut on two public exchanges by the end of the week.Whatever strings Bitcoiin are pulling to make the listing happen though don’t seem to be enough, with the company…

Dragon Coin advisers hope to raise millions through Dapps Global ICO

May 5, 2018 mlmdetective 0

In the bowels of Facebook another unregistered securities ICO offering is being prepared for launch.Today we take a look at the upcoming launch of Dapps Global and serial MLM underbelly scammers promoting it.Dapps Global is being touted as a passive investment opportunity, through which “shareholders” can invest in through a planned ICO.On the marketing side of things Pearse Donnelly appears to be Dapps Global’s primary promoter.Donnelly promotes Dapps Global to potential investors through his secret “Cryptopians” Facebook group.Before we get into that though, some background history;Pearse Donnelly first appeared on BehindMLM as admin of the Mo Brabus Ponzi scheme in 2015.In…

Tecademics screw affiliate out of $20,000, IQup not interested?

April 22, 2018 mlmdetective 0

About a week ago we covered a co-founder conflict leading to Chris Record selling his stake in Tecademics.Tecademics itself is no more and has been amalgamated into IQup.One loose end that neither Tecademics co-founders Chris Record and Jim Piccolo or IQup seem keen to tie up however, is a missing $20,000 prize awarded to one of their affiliates.Colton Fitzgerald is a former Tecademics affiliate. At a “Tec Talks 2017” event, Chris Record named him as winner of “$20,000 cash”.This was announced on-stage in front of an audience of Tecademics affiliates.[embedded content]Fitzgerald won the $20,000 prize as part of Tecademic’s “90 day challenge”.In…

Redwood Scientific Technologies under investigation for FTC Act violations

April 18, 2018 mlmdetective 0

BehindMLM recently reviewed RengaLife on April 13th.While I didn’t personally come across any suspect marketing claims as part of my research, it has emerged RengaLife’s parent company, Redwood Scientific Technologies, is being investigated for suspected violations of the FTC Act.In August, 2017, the FTC issued Redwood Scientific Technologies with a civil investigative demand (CID).The CID was part of the FTC’sinvestigation into (Redwood Scientific Technologies’) advertising and marketing practices for a smoking cessation product and an appetite suppressant.These products are TBX-Free and Eupepsia Thin, both offered through RengaLife.Specifically, the FTC are investigating whether Redwood Scientific Technologiesmade false or unsubstantiated representations concerning TBX-FREE’s efficacy…

CGI Limited soliciting gaming investment through US bank account?

April 3, 2018 mlmdetective 0

Following publication of BehindMLM’s CGI Limited review on February 23rd, the company shut down its Coinsinos website.Prior to being shutdown, the Coinsinos website marketed a gaming MLM opportunity tied to, among other things, cryptocurrency cock fighting.Further research reveals that while the front-end of the Coinsinos website has been disabled, affiliate login services (“members.coinsinos.com”) now redirects to the CGI Limited website.As at the time of publication, CGI Limited affiliates are being asked to deposit funds invested into betchip tokens via bitcoin, bitcoin cash, ethereum… or bank wire transfer to a US bank account.CGI Limited’s business model sees affiliates invest up to $50,000…

4300% annual ROI touted through Ormeus Global ORME investment

March 28, 2018 mlmdetective 0

Whereas the cryptocurrency market has more or less been in a slump since January, Ormeus Global’s ORME altcoin is currently pumping.This isn’t that unusual, as MLM altcoins can be insulated from natural market activity via new investment tied to new affiliate recruitment.What’s disturbing however is how affiliates are using ORME’s current value to market the Ormeus Global MLM opportunity.Ormeus Global launched mid last year and, purportedly through a trading bot, promise investors a 160% ROI.At the time of launch Ormeus Global claimed its business opportunity was “not available in the United States”, however that hasn’t stopped US investors from signing up…

Will the UK ever regulate rampant Companies House registration fraud?

March 27, 2018 mlmdetective 0

The level of MLM company registration fraud taking place in the UK is such that, whenever you see a Companies House certificate paraded about as proof of legitimacy, save yourself some time and just assume the company in question is a scam.I can’t recall the last time I came across a legitimate MLM company for review incorporated in the UK, and it’s been this way for years.The primary reason for this is that UK Companies House incorporation appears to be entirely unregulated.Anyone from anywhere in the world can pay the £12 GBP fee and register online. Punch in whatever personal details you want…

Mintage Mining claim to be “pre-compliant” with SEC regulation

March 26, 2018 mlmdetective 0

Mintage Mining is purportedly a partnership between David Childs (cited as owner of the company) and Darren Olayan, CEO of Nui.BehindMLM reviewed Mintage Mining last December. We came to the conclusion that, at best the cloud mining business model would constitute a securities offering.The lack of registration with the SEC at the time meant that, at worst, Mintage Mining could be recycling newly invested funds to pay off existing investors.Likely due to the increasing number of issued cryptocurrency securities fraud cease and desists, Darren Olayan has attempted to brush off regulatory compliance by claiming Mintage Mining is “pre-compliant” with the SEC.Olayan…

Kannaway accused of “illegal pyramid sales” of cannabis oil in Belgium

March 26, 2018 mlmdetective 0

We’re a bit late to this one, but earlier this month Kannaway was accused of illegally selling cannabis oil in Belgium.A March 19th report in Het Laatste Nieuws (HLN), Belgium’s top newspaper, accuses Kannaway affiliates of illegally selling cannabis oil.HLN goes on to call out predatory marketing practices that target “severely ill patients”, as well as Kannaway’s “pyramid sales” business model.Pieter Geens, founder of the Medcan non-profit, is quoted by HLN as stating Kannaway are “flat-out opportunists” who “benefit from severely ill people”.On their website Medcan describe themselves asthe national expertise center and advisory body for medical cannabis.We provide a professional service…