Following the SEC shutdown of eAdGear last September, two months later in December owners Charles Wang and Francis Yuen were indicted by a grand jury on a count of conspiracy.
For those unfamiliar with the company name, eAdGear were behind the 2013 Ponzi scheme GoFunRewards.
Last we checked in Wang and Yuen were facing 5 years imprisonment (possible 3 years supervised release) and a $400,000 fine, with a status conference scheduled for January 21st, 2015.
As the case has slowly been progressing since then, today we take a look at where things are currently at. [Continue reading…]
Identified as CEO and owner of the company on the 2by2 For You website is Doc Lett.
Doc Lett, Owner and CEO, has been part of the Referral Marketing Industry since he was in college.
While working a minimum wage job during college, he was introduced to network marketing and soon found his passion.
He discovered that anyone with a desire to create their own path, could make a substantial income by referring others to opportunities.
Lett, real name Ken or Kenneth Lett first appeared on BehindMLM as the CEO and Founder of Phase 4 Global.
Phase 4 Global launched back in mid 2012 and saw affiliate pay $110 to enter a four-tier matrix cycler. Commissions were paid out as subsequent affiliates were recruited and also purchased matrix positions.
Phase 4 Global still appears to have been active early to mid last year, however Alexa traffic estimates reveal the opportunity has since collapsed.
Two years before Phase 4 Global, Lett launched Freeway to Success. Freeway to Success was another recruitment-driven opportunity similarly having collapsed before Lett went on to launch Phase 4 Global.
Now with Phase 4 Global all but over, we have 2by2 For You.
Read on for a full review of the 2by2 For You MLM business opportunity. [Continue reading…]
Game Loot Network operate in the mobile gaming MLM niche and went into prelaunch in May 2015.
According to the Game Loot Network LinkedIn profile, the company is based out of the US state of Arizona. The contact page of the Game Loot Network contradicts this however, instead providing an address in Missouri.
Further research reveals a number of seemingly unrelated businesses operating out of the supplied Missouri address, so I’m not too sure what the story is there.
Adding further confusion to the mix is Game Loot Network’s “website terms and conditions”, which mentions a third state, Georgia:
Any claim relating to (Insert business name here) web site shall be governed by the laws of the State of Georgia without regard to its conflict of law provisions.General Terms and Conditions applicable to Use of a Web Site.
(insert business name here) appears multiple times in the terms and conditions, suggesting Game Loot Network have just copy and pasted a boilerplate template from a third-party.
For reasons unknown, there is no information on who owns and operates Game Loot Network on their website.
The Game Loot Network website domain (“gamelootnework.com”) was first registered on the 16th of December 2014. The registration was last updated on the 30th of March 2015, suggesting that might be when the current owner(s) acquired the domain.
Lance Baker of Game Loot LLC is listed as the domain owner. Baker is cited as the author of a $2.99 eBook titled “Game Loot: Grab Your Piece of the Mobile Gaming Revolution” on multiple websites, but other than that I was unable to establish his relationship with or role within Game Loot Network.
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…]
Just shy of a week ago, Alex Morton announced he was leaving Vemma.
Morton’s departure has raised eyebrows, mostly due to previous statements made by Morton on the topic of company loyalty.
As per one such sentiment Morton (right with Vemma CEO, BK Boreyko) made a few months ago;
When times got tough last year and some negative things hit us (Vemma), I close (sic) easily turned my back, taken an enormous fat check & dipped.
Like a lot of the “leaders” who I view as cowards, betrayal, weak ass little children, excuse making degenerates, who leave companies for greener pastures when 99% it’s not even green, they’re just blind.
If there’s a legit reason to leave, I respect it. But most of the time is a blame game cry baby party.
Some people out there need to lookup the word loyalty in the dictionary and understand you don’t bite the hand that’s fed you & your family for years.
A few days after Morton announced he was leaving Vemma, it was then revealed he’d signed on with Jeunesse. [Continue reading…]
Facing an order to show cause as to why he shouldn’t be found in contempt of court, Troy Barnes plead ignorance back in June.
I don’t have counsel and can’t afford it.
I would like to explain that I am guilty of being ignorant in this case.
The order stemmed from Barnes’ thus far non-participation in the SEC case against him.
In late June the court accepted Barnes’ explanation, on the proviso he would participate fully in the case going forward.
It (sic) hard to do anything when you don’t understand anything of the law and have no counsel.
Thank you and I will do everything I can to move forward in helping this case.
Yet one month later, a new filing from the SEC reveals Barnes is still refusing to participate. [Continue reading…]
As the hunt for 133 indicted suspects continues in Thailand, news today that the 44th arrest in the uFun Club case has been made.
Phakphoom Suk-kon, another high-profile suspect in the Ufun pyramid case, was arrested in Chon Buri’s Pattaya yesterday.
Phakphoom was arrested after he was caught red-handed [Continue reading…]
There is no information on the Rush2Residual website indicating who owns or runs the business.
The Rush2Residual website domain (“rush2residual.com”) was registered on the 11th of June 2015, listing an “An Fuller” as the domain owner. An address in the US state of California is also provided.
Late last year An Fuller was signing off support emails for Global Wealth Exchange Team.
Global Wealth Exchange Team was a two-tier matrix Ponzi cycler. Affiliates invested $25 on the expectation of advertised $588 ROI.
Launched in September, Global Wealth Exchange Team appears to have collapsed a month or so later in October.
As of last month, the same email An Fuller used to register the Rush2Residual domain also appeared on a website called “Real Deal Donation eBook”.
Real Deal Donation eBooks affiliates bought in for $33 or $139, which granted them access to an eBook library and qualified them to receive $33 and $139 payments from subsequent participants.
The email above has since been removed from the Real Deal Donation eBooks website.
Read on for a full review of the Rush2Residual MLM business opportunity. [Continue reading…]
As the SEC case against Achieve Community inches closer towards the inevitable, the DOJ’s parallel criminal case against Achieve Community’s founders also progresses.
The latest in criminal proceedings against Achieve founders Kristi Johnson and Troy Barnes, sees the DOJ now calling on victims of the $6.8 million Ponzi scheme. [Continue reading…]
While questions about why Malaysian authorities refuse to investigate and arrest the ringleaders of a $1.17 billion dollar Ponzi scheme, more evidence has surfaced linking uFun Club management with Malaysian politicians.
Haivng surfaced sometime over the last twenty-four hours, the following image shows Daniel Tay, head of uFun Club (now Unascos), and current Malaysian Deputy Prime-Minister, Ahmad Zahid Hamidi. [Continue reading…]
Following the posting of $200,000 bail in Sanderley Rodrigues’ visa fraud case, there was a bit of speculation as to where the funds had originated.
For his part in defrauding investors through TelexFree, Rodrigues is currently subject to an asset-freezing injunction.
Through filings made in the SEC’s civil case against TelexFree and Rodrigues, we can now reveal the $200,000 paid was sourced from previously frozen funds. [Continue reading…]