Zeek Receiver files clawbacks against nine UK investors

zeekrewardsJust over two weeks after Norwegian net-winners were taken care of, the Zeek Rewards clawback world tour has made another stop – this time in the UK.

Filed on the 5th of March, the Receiver is now suing nine UK-based net-winners of the $850 million Zeek Rewards Ponzi scheme. [Continue reading…]


Mainston Review: $600 four-tier recruitment scheme

mainston-logoThere is no information on the Mainston website indicating who owns or runs the business.

The Mainston website domain was registered on the 15th of January 2015. Mainston Limited is cited as the domain owner, with an address in Cheshire, UK also provided.

Further research reveals the address provided belongs to IncWise Limited, who offer company formation in the UK for £5 GBP.

As such, it would appear Mainston exist in the UK in name only.

As always, if a 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…]


Berkeley Research Group to defend Zeek Ponzi pimps?

zeekrewardsAs part of the ongoing litigation against those who stole the most money from Zeek Rewards victims, the defendants have requested a defense expert be appointed to argue their case.

Part of the fees charged by this defense expert are to be footed by victims of the $850 million dollar Ponzi scheme.

As directed by the Western District Court of North Carolina, the net-winner defendants have ‘submitted proposals from three potential defense experts‘.

A court filing dated March 4th reveals that [Continue reading…]


Forensic accounting dissects Xu’s WCM777 Ponzi scheme

wcm777-logoIn April of 2014 a Receiver was appointed to manage the assets of WCM777 and its related entities. One of the duties assigned to the court-appointed Receiver was to ‘make an accounting, as soon as practicable, to this Court of the assets and financial condition of‘ the company.

After almost a year of exhaustive forensic accounting, a report on the financial affairs of WCM777 has finally been delivered.

TLDR?

The Receiver’s findings from her forensic accounting are summarized below.

1. The Receivership Entities’ primary source of income was investor deposits, which was also the primary source of virtually all funds distributed to the investors;

2. The vast majority of the Receivership Entities’ business activities revolved around raising and distributing investor funds;

3. Investor funds were so materially commingled between and among the Receivership Entities that the entities operated as a unitary enterprise, rather than as separate entities.

Given the above findings, WCM777 was of course a Ponzi scheme – as BehindMLM originally wrote in our June 2013 WCM777 review.

Read on for a more detailed breakdown of Phil Ming Xu’s WCM777 Ponzi empire. [Continue reading…]


Options Domination accused of stealing binary signals

ds-domination-logoDS Domination launched in 2013 and saw the company sell online dropshipping “how-to”guides. This is bundled with an MLM compensation plan.

The guides are sold retail, with an additional $9.95 fee paying for DS Domination affiliate membership.

Late last year word on the grapevine was that DS Domination were looking to branch out into binary options trading.

This was somewhat of an odd announcement as unlike dropshipping, none of DS Domination’s current management appeared to have any history with binary options.

After the initial announcements there has been a series of delays where the launch of Options Domination has repeatedly been pushed back.

Now, as Options Domination gears up for an actual launch, a third-party binary options signals provider is accusing them of theft. [Continue reading…]


ViziNova & Sander partnership deteriorates into “shit storm”

vizinova-logoOne of the stranger MLM stories we broke in 2014 was that of Michael Sander helping ViziNova establish their Ponzi scheme in the UAE.

ViziNova accepted deposits of $1000 to $3000 from their investors, on the promise of an advertised 150%-166% ROI.

In addition to assisting ViziNova register themselves offshore, in the hope they might evade the attention of US regulators, Sander also published a fluff piece in his publication, Obtainer Online.

In it, Sander ignored ViziNova’s Ponzi scheme business model and claimed

ViziNova isn’t a Ponzi scheme or a pyramid system because from the very outset Renato Rodriguez and Gutemberg dos Santos are demonstrating transparency.

Turns out transparency means dick when all you’re doing is shuffling newly invested funds to pay off existing investors (I know, shocking right?).

Now ViziNova appear to be on the verge of collapse, with Obtainer Online describing the deteriorating situation as a “shit storm”. [Continue reading…]


T LeMont Silver stiffs his Zeek lawyers out of $5000+

zeekrewardsDespite stealing over two million dollars from Zeek Rewards victims, it seems T LeMont Silver can’t rub together $5000 to pay his lawyers.

In an effort to combat clawback litigation filed against him, T LeMont Silver, through another attorney of his in Texas, sought to engage the legal services of James, McElroy and Diehl.

Now, almost a year later, James, McElroy and Diehl have filed a Motion To Withdraw from the case, citing non-payment and a lack of communication from Silver. [Continue reading…]


Infinity8Gold Review: $2-$50 subscription-based cycler Ponzi

infinity8gold-logoThere is no information on the Infinity8Gold website indicating who owns or runs the business.

The Infinity8Gold website domain was registered on the 3rd of January 2015, however the domain registration is set to private.

As always, if a 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…]


OneDollarExplosion Review: $1 cash gifting with cycler

onedollarexplosion-logoThere is no information on the OneDollarExplosion website indicating who owns or runs the business.

The OneDollarExplosion website domain (“onedollarexplosion.com”) was registered on the 14th of January and lists a “Keno” as the domain owner. An address in Kingston, Jamaica is also provided.

Other domains registered with the same email address as that of OneDollarExplosion include “ten2millions.com” and “unlimited100.com”.

Ten2Millions is/was a matrix-based pyramid scheme, where affiliates purchase positions for $15 and are then paid to recruit others who do the same.

The domain Unlimited100 is now defunct but going by the name, presumably it was a similar sort of scheme.

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


Acesse Review: iNetGlobal Ponzi rebooted?

acesse-logoThere is no information on the Acesse website indicating who owns or runs the business.

The company’s website does have an “about” page, however only the following vague marketing spiel is provided:

Acesse Corporation was founded in 2006 as a small, local Internet service provider and has grown to become one of the top Internet marketing and advertising service providers around the world.

The Acesse website domain lists a Steve Renner as the owner, with an address provided in the US state of Minnesota.

steve-renner-founder-acesse-inetglobalOn his LinkedIn profile, Renner (right) claims he founded Acesse back in 2006.

I’m the Founder of Acesse Corporation, a global leader of internet products and advertising services for small businesses.

Why this information is not presented on the Acesse website is a mystery.

As per Renner’s LinkedIn bio;

Acesse Corporation has over 500,000 customers in over 200 Countries, and is currently ranked in the TOP 500 most trafficked web sites in the world.

I divide my time between our Minneapolis operations office, our Silicon Valley Technology Center in Redwood City, CA and our Hong Kong office.

The two US addresses mentioned above appear on the Acesse website, but the Hong Kong office is absent.

Further research reveals multiple businesses operating out of the California address, indicating that it is rented virtual office space and/or just a mailbox.

The address in Minnesota however appears to be legit.

Looking at the Acesse website, it’s clear that the company primarily targets Asian markets. This is reflected in Alexa’s traffic estimates for the Acesse website domain, which lists China as making up 78.8% of visitors.

Taiwan (6.3%), Japan (5.5%), the US (2.4%) and South Korea (1.6%) round out the top 5.

Going by this, I’m going to suggest that the bulk of Acesse’s operations are carried out from their Hong Kong office. The “technology center” in California might house some server hardware, but otherwise Acesse pretty much appears to be a Chinese company.

At the time of publication, Alexa rank the Acesse website as 162nd most visited in China (1050th globally).

On his LinkedIn profile, Renner lists two other companies of note: Cash Cards International and iNetGlobal, launched in 2001 and 2008 respectively.

For more on these iNetGlobal we turn to the StarTribune (February 24th, 2010):

Federal agents on Tuesday raided a Renner-owned business in downtown Minneapolis — Inter-Mark Corp. — looking for evidence of an alleged fraud that sources say may have attracted tens of thousands of customers worldwide, including in Canada, China and Russia.

As agents wheeled out carts carrying files and computers from two office suites housing Renner’s business, officials said they are investigating a suspected Ponzi scheme run via the Internet.

According to John Kirkwood, the Secret Service’s special agent in charge in Minneapolis, the search is “part of the Secret Service’s investigation of a suspected Ponzi scheme that is headquartered in Minneapolis and that is operating over the Internet.”

Kirkwood added that the Secret Service, under a court order, will seize money in several bank accounts that “are believed to hold proceeds of this alleged fraud.”

Some $22 million was returned to iNetGlobal victims in 2011, however no formal charges were laid.

iNetGlobal affiliates heralded the release of funds (to a court-appointed administrator), was heralded as validation of iNetGlobal’s business model. The government refused to comment.

In response to the release of funds, iNetGlobal themselves issued the following press-release:

“InetGlobal will use the remaining funds to launch a new and exciting array of products, many of which have been delayed due to the seizure of the funds,” the company announced on its Blog.

“What working capital was available was used to service the existing business and to pay for the expensive process required to convince the United States government that iNetGlobal’s business is legal.”

According to a June 2011 StarTribune article, iNetGlobal was indeed permitted to restart operations – but with the following conditions in place:

According to the agreement Frank approved Thursday, Inter-Mark has made changes. For starters, Renner is no longer associated with the company.

In addition, the company’s compensation plan, financial statements and even its Internet products all have been reviewed by outside experts. Inter-Mark was allowed to resume business in July 2010.

At the time Renner was in jail, serving an 18 month sentence for tax fraud related to his Cash Cards International business.

iNetGlobal’s business model, which saw affiliates invest $2000 and earn a ROI for clicking ads and recruiting new participants, was clearly operating as a Ponzi/pyramid hybrid. Why the case wasn’t pursued further though I can’t say for sure.

Today the iNetGlobal website is unresponsive, however a redirect to Acesse does appear in the Google’s search results:

inetglobal-acesse-login

Acesse in its current state today (with Renner again at the helm), would appear to be the rebranding of iNetGlobal.

If iNetGlobal in 2010 was anything like Acesse is today, then one possibility for a lack of further regulatory action is that the company, for the most part, targets the Chinese.

In essence, US regulators might have seen it as their problem. Renner was aready in jail and regulatory co-operation between Chinese authorities and those in the US is always icy. Moreso back in 2010.

In any event, despite iNetGlobal appearing to be an AdSurfDaily clone, nobody went to jail for it and now it appears to be back as Acesse.

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