OKBTC Biz Review: 50,000% ROIs… seriously?

okbtc-biz-logoThere is no information on the OKBTC Biz website indicating who owns or runs the business.

The OKBTC Biz website domain (“okbtc.biz”) was registered on the 21st of March 2016, however the domain registration is set to private.

A residential address in London, UK is provided on the OKBTC Biz website, along with the company claiming to be “a UK registered investment company”.

No registration details are provided.

Alexa currently estimates that 26.4% of all traffic to the OKBTC Biz website originates out of Russia. India is the second largest source of traffic, providing 14.7%.

The admin of OKBTC Biz is likely based out of one of these two countries. A UK company registration is typically the work of Indian scammers, so my money would be on India.

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. [Continue reading…]

SEC vs. USFIA trial scheduled for January 2017

usfia-logoFollowing a Joint Report filed by the SEC, USFIA and Steve Chen, a trial date has been scheduled for January 10th, 2017

Note that this is the SEC civil action against USFIA and Chen, with details of criminal proceedings yet to surface. [Continue reading…]

Funds Multiplier Review: $10 two-tier matrix cycler Ponzi

funds-multiplier-logoThere is no information on the Funds Multiplier website indicating who owns or runs the business.

The Funds Multiplier website domain (“fundsmultiplier.com”) was first registered on the 13th of January 2015. The registration was last updated on March 21st, 2016, suggesting this is when the current owners took possession of it.

The current Funds Multiplier domain registration is set to private and provides no information on the company’s owner(s).

On social media an individual named “Alamgir Hossaun” claims to be a Funds Multiplier admin:

Hello, I am the Alamgir Hossaun, one of the admins of Funds Multiplier. I will be answering all your questions here. I have been into online marketing since 2008. I specialize in PTC advertising, CPA and affiliate marketing.

You all know the plan/details already by now. We are a team of 2, Me and Kathryn. Kathryn handles mostly the technical aspects of our site.

I wasn’t able to put source any additional information on either Hossaun or “Kathryn”.

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. [Continue reading…]

Lyoness Terms and Conditions illegal in Poland

lyoness-logoIn 2013 a legal complaint was filed against Lyoness in the Polish  Court of Competition and Consumer Protection (abbreviated as CCCP in English or SOKiK in Polish).

The complaint raised the question of whether Lyoness’ affiliate Terms and Conditions were illegal under Polish Consumer Protection law.

The case has been playing out for almost three years, with a decision finally reached last month. [Continue reading…]

OneCoin lose credit card processing merchant

onecoin-logoIf you thought OneCoin’s bitcoin announcement was a conveniently timed distraction from a Chinese crackdown on the scheme… you’d be half right.

Turns out there might be a much more serious problem for OneCoin behind the decision. [Continue reading…]

AdCashDoubler Review: $5 ad credit Ponzi scheme

adcashdoubler-logoThere is no information on the AdCashDoubler website indicating who owns or runs the business.

The AdCashDoubler website domain (“adcashdoubler.com”) was registered on the 15th of April 2016, however the domain registration is set to private.

AdCashDoubler’s official Facebook page has one admin, Mair Heather. Heather’s Facebook account was set up on or around April 28th, the same day the AdCashDoubler Facebook page was created.

I wasn’t able to track down an MLM history on Heather, with all of this suggesting Mair Heather is likely a dummy account.

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. [Continue reading…]

Zeek Receiver’s first quarter report for 2016

zeekrewardsOn the 29th of April Kenneth Bell, the Zeek Rewards Receiver, filed his first quarter report for 2016.

In the report the Receiver covers:

  • collections from settlements
  • payments to Zeek Rewards victims
  • ongoing recovery efforts against Zeek new-winners and insiders (Michael Van Leeuwen, Todd Disner, Trudy Gilmond and Darryle Douglas)
  • a new settlement with Preferred Merchants and Jaymes Meyer
  • Payza and Howard Kaplan litigation update
  • a potential tax dispute between the Receivership and the IRS and
  • a property formerly owned by Dawn Wright-Olivares going up for auction

[Continue reading…]

KulaBrands Review: Crowdfunding manipulation?

kulabrands-logoThe webinar page of the KulaBrands website contains images of two individuals, Peter Gantner and Doug Kyle. The website does not disclose their roles within the company.

On his LinkedIn profileFurther research reveals Gantner citing himself as the CEO of KulaShare Inc. KulaShare Inc is assumed to be the parent company of KulaBrands.

Previous MLM opportunities Gantner has been an affiliate with include Visalus (2008-2012) and Lyoness (2012-2013).

peter-gantner-kannaway-ambassador-kulabrandsAs per a marketing video uploaded to YouTube on February 22nd 2016, up until recently Gantner was promoting Kannaway (right). Whether Gantner’s still involved in Kannaway is unclear.

Doug Kyle is the owner of the KulaBrands website domain (“kulabrands.com”), registered on the 4th of September, 2015. An address in the US state of Arizona is also provided.

In late 2015 Kyle attempted to fund development for “Fuel Matrix” on KickStarter.

Fuel Matrix is a breakthrough technology that will help you mitigate your personal impact on the environment from driving.

Fuel Matrix bonds oxygen to gas or diesel at the molecular level. This helps your car engine burn cleaner, resulting in an up to 50% reduction in harmful emissions.

Moreover, it saves you money by improving your gas mileage up to 20%.

The project goal was $50,000 but as of January 16th, 2016 only $10,312 had been pledged.

Read on for a full review of the KulaBrands MLM opportunity. [Continue reading…]

Does Ruja Ignatova know anything about cryptocurrency?

onecoin-logoUpon learning of the arrest of Chinese investors, yesterday Ted Nuyten personally “reached out” to CEO Ruja Ignatova.

This was part of Nuyten’s duty as unofficial spokesperson for OneCoin to the MLM industry, suspected to be the result of an undisclosed amount of money changing hands.

In “a statement” published on Nuyten’s BusinessForHome blog yesterday, Ignatova referred to the arrest of Chinese OneCoin investors and seizure of over $30 million USD in assets as “a challenge”.

Cryptic as ever, Ignatova went on to claim OneCoin was ‘pushing hard and already working on several licenses to enhance the business in China.

That those licenses will never materialize is a given, in much the same manner as OneCoin left a return to the US lingering upon their abrupt departure last year. Ditto promises of opening up their own OneCoin banks.

In an attempt to not address the fact that OneCoin is under investigation by Chinese authorities, with OneCoin management holding events on the Chinese mainland likely to lead to more arrests, Ignatova claimed the cancelled Harbin event had been replaced by a May 9th event in Macau.

The request to place the event in Macau instead of Harbin was requested by the Chinese members themselves.

Fearing arrest and seizure of their assets, one can understand why Chinese investors didn’t want to attend a OneCoin event on the mainland.

For those unfamiliar with Macau, it’s a “Special Administrative Region” of China that functions as an autonomous territory.

China is responsible for military defense and foreign affairs while Macau maintains its own legal system, the public security force, monetary system, customs policy, and immigration policy. (Wikipedia)

That’s not to say Chinese mainland and Macanese authorities don’t work together. But with the Chinese investigation ongoing and little to no promotion of OneCoin in Macau itself, realistically the chance of Macanese authorities taking action on May 9th is slim to none.

A factor both Chinese OneCoin investors and management are acutely aware of.

In any event, whilst Ignatova’s response to the jailing of Chinese investors equates to legal dodging and weaving, what caught my eye was OneCoin’s bitcoin announcement. [Continue reading…]

How Wakaya Perfection and Todd Smith gutted Youngevity

youngevity-logoWhen a top affiliate of an MLM company departs after nineteen years, you expect some fallout.

What you don’t expect though is systematical sabotage from within, an orchestrated campaign to run a company into the ground if you will – all in the name of launching a new venture.

So alleges a March 23rd lawsuit, filed by Youngevity against former top-earner Todd Smith and Wakaya Perfection, a recently launched rival startup. [Continue reading…]