Herbalife to pay $15M settlement in Bostick class-action case

herbalife-logoThe Bostick class-action suit filed against Herbalife isn’t quite over yet, but a settlement agreement was filed a settlement yesterday that stipulated it would pay $15 million dollars to settle the case.

An additional $2.5 million would be paid to cover “product returns”, along with “numerous changes” to its business model for at least three years.

The proposed settlement terms were granted “preliminary approval” yesterday. [Continue reading...]


FBI: Genesis Acquisitions International part of a $50M Ponzi

genesis-acquisitions-international-logoA few weeks ago I wrote an article exposing Genesis Acquisitions International.

Shrouded in secrecy, much of what we learned of the scheme was through secret emails written by Ken Russo.

Russo, a serial participant in the some of the worst MLM scams ever to launch, lured investors via email with promises of 20% “guaranteed” ROIs in just a few weeks.

I am very firm in my belief that this is the real deal and I get no sense whatsoever that any kind of scam is intended here. It is very seldom that we can find an opportunity as transparent and viable as the Genesis Acquisitions International, LLC. investment club.

This is a wholesale purchase which is quickly turned over in order to produce the return (20%) to the members in a relatively short time frame.

Wary of Ponzi concerns, Russo reassured those he was soliciting that Genesis Acquisitions was no such scheme:

IMPORTANT NOTE REGARDING THE PONZI ISSUE

Those who are of the opinion that this might be another ponzi scheme should pay close attention to the next paragraph.

Upon completion of the first contract (PINEWOOD TCI 1) the members did not have the option of “rolling over” their funds.

Each and every member received their principal and interest to their bank account and this policy will remain in effect for all future contracts.

This demonstrates that Genesis Acquisitions International, LLC. is not a ponzi and that our funds are indeed placed into viable land sale transactions.

In a nutshell, Genesis Acquisitions International solicited tens of thousands of dollars worth of individual investments on the promise of 20% ROIs.

The scheme was headed up by William (Bill) Apostelos, and operated primarily through a “password-protected website”, email communications and NDA prohibiting investors from publicly advertising or discussing the scheme.

That didn’t stop the FBI from investigating Apostelos and his company though, with news today that the FBI have moved to freeze Apostelos’ known assets. [Continue reading...]


Argent Global Network suspend support & withdrawals (again)

argent-global-network-logoEarlier this month we reported on Argent Global Network confirming that regulatory issues were behind the company’s ongoing payment delays.

These issues naturally killed promotion momentum and the new funds Argent Global Network relies on to pay off existing investors have all but dried up.

In an email sent out over the last twenty-four hours, the company now advises it is suspending all affiliate withdrawals and cancelling support.

Quite obviously the problem-plagued company is in a shambles, however you won’t get any acknowledgement of what’s actually going down in their latest update.

Rather, despite quite obviously being starved of new funds, the picture painted is one of illusionary progress: [Continue reading...]


True Vision Global Review: Charity, church & matrix positions

true-vision-global-logoGathering information on True Vision Global is a bit of a challenge.

As best I’ve been able to make out, the company was set to launch earlier this year but this has been delayed. The “truevisionglobal.com” domain  currently redirects to “tvgpreregistration.com”.

This domain has a big “coming soon” banner at the top, implying that the opportunity hasn’t yet launched.

One domain mentioned on the site though is “tvg-connect.com”, which appears to be some sort of customer orientated website.

As far as information about the company goes, the preregistration website is mostly useless. It does however provide a corporate address, belonging to “McQuinn Enterprises”, in the Canadian province of Saskatchewan.

lois-mcquinn-co-owner-president-true-vision-globalThe TVG-Connect website however names a “Sister Lois McQuinn” (right) as the President and co-founder of the company.

Additional co-founders include Charles Andrade, Gustavo Zaldivar and William Anderson Jr.

On the social network Better Networker, Quinn identifies herself as an affiliate with ACN ($499 entry fee to market third-party products and services).

In late 2013, McQuinn joined and was actively promoting Penny Matrix. Penny Matrix relied heavily on religious-themed marketing, charging participants $7 to qualify to earn commissions on the recruitment of new members.

penny-matrix-promotion-lois-mcquinn-facebook

Charles Andrade meanwhile was one of the co-founders of MMO Cashout, a failed MLM opportnity that sought to monetize the trading of digital items in online games.

Promotional videos on Andrade’s YouTube channel reveal was also involved in Penny Matrix, as well as Lucrazon Global, 60 Second Millionaire, The Legends Network and Spinding.

On a training video for True Vision Global hosted by Andrade, a Skype popup box appears suggesting he was also an investor in Worldwide Solutionz:

charles-andrade-worldwide-solutionz-investor

Gustavo Zaldivar was involved in eCosway circa 2011 (prior to the US relaunch). He was also an affiliate in the Ponzi scheme ROI Unlimited.

Finally, William R. Anderson Jr. was again an affiliate with Penny Matrix and Spinding.

There’s some observable overlap here, so it’s likely that the four co-founders of TVG have been working together in past opportunities they’ve been in.

Read on for a full review of the True Vision Global MLM business opportunity. [Continue reading...]


Nimara AdShare Review: $10 – $300 Ponzi “plan” investments

nimara-adshare-logoNimara AdShare claims to be ‘an investment company based in Marshall Island’,

Research reveals the cost of registering a company in the Marshall Islands is about $250 USD, with minimal information about those owning the company required.

Nimara AdShare would appear to exist in the Marshall Islands in name only. The Nimara AdShare website domain registration lists a “Radka Samkova” of “Le Nimara Group LTD” as the owner, with an address in the South Moravia region of the Czech Republic.

radka-samkova-owner-nimara-adshareRadka Samkova (right) is credited as the CEO of Nimara AdShare on their website, with the Czech Republic likely where Samkova is running the company from.

Promotional videos on Samkova’s YouTube channel indicate affiliate involvement with Empower Network (pass-up recruitment) and LaunchV (Vappnet reboot).

Going back even further, in 2012 Samkova was busy promoting MX Fast Money, a $40 feeder that leads into the MillionaireX pyramid scheme:

radka-samkova-promoting-mx-fast-money-facebook-2012

As far as I can tell, Nimara AdShare is Samkova’s first run on the executive side of an MLM company.

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


Nevada issues Wings Network securities warning

wings-network-logoIt was only a few months ago that Wings Network “suspended” its US operations.

Of course that was all pseudo-compliance baloney, with the company’s affiliates continuing to recruit US-based investors.

This eventually attracted the attention of the Massachusetts Securities of State, who filed a pyramid scheme complaint against the company in May. The case is currently making its way through the courts.

In the meantime, the US state of Nevada has now issued its own warning against Wings. [Continue reading...]


Preferred Merchants wired $4.8M 19 mins after SEC call

zeekrewardsI haven’t really been covering the battle between Preferred Merchants, COO Jaymes Meyer and the Zeek Rewards Receivership that has been quietly playing out for some time.

The only mention I’ve thus far  made of the tussle was noting it briefly in the Zeek Receivership’s quarterly report for July.

Recent filings by the Receivership in the SEC’s case against Zeek Rewards however shed interesting new light on the situation. [Continue reading...]


TelexFree discovery update in Wanzeler & Merrill case

telexfree-logoAs required by Local Rule 116.5, yesterday the US government provided an update on the discovery process in the case against James Merrill and Carlos Wanzeler.

Founders of the billion dollar Ponzi scheme TelexFree, Merrill and Wanzeler were indicted on charges of fraud and conspiracy back in July.

The government has provided substantial discovery to date, but discovery is not complete.

As of the date of this report, the government has produced an electronic database containing most of the data and records the government has collected via subpoena while investigating this case (about 100,000 pages).

The government has also made several productions of additional material in response to specific requests from counsel, including all bank and brokerage records, and has made available the electronic evidence seized during execution of search warrants in April 2014.

Still in the process of being digitally cataloged for production are [Continue reading...]


Worldwide Solutionz face regulatory heat, suspend payouts

worldwide-solutionz-logoOne of the aspects of running a Ponzi scheme is that if it catches on, you’re bound to eventually run into finance regulations.

While the trend of late has been to get into bed with increasingly shifty rogue Asian merchants (Hong Kong is a favourite), the lack of security surrounding such partnerships still causes many an admin to stop and think.

One such company going through this right now is Worldwide Solutionz.

When the 90 days is over, the original $25 pops back up in your account balance. Did you notice what just happened?

Your $25 became $40 while you were working on … Oh that’s right, you don’t have to do anything at all to earn this or make it happen.

Just purchase, relax, enjoy, rinse and repeat.

With a business model like that, it’s easy to see why Worldwide Solutionz might be having problems finding a payment processor willing to take on the risk.

One need only look at TelexFree’s banking woes to see just how difficult it can be to secure ewallet services for a sizable Ponzi.

In a recent email sent out to affiliates, Worldwide Solutionz explain their own banking and ewallet problems: [Continue reading...]


Achieve Community Review: $50 straight-line cycler

achieve-community-logoThe Achieve Community launched earlier in July 2014 and are based out of the US state of Michigan.

troy-barnes-kristi-johnson-owners-the-achieve-communityListed as co-founders of Achieve Community on their website are Troy Barnes and Kristi Johnson (right).

On his Facebook profile, Barnes credits himself as a “Bronze” in Skinny Body Care (weight loss). Prior to that Barnes was marketing Empower Network (2-up cash gifting).

This was around 2011, with Barnes more recently (late 2013) promoting Tan Banners (4 tier 2-up recruitment scheme).

Kristi Johnson meanwhile, prior to the launch of the Achieve Community, was involved in Quanta ($25-$495 cash gifting).

was involved in something called “We The People Downline Club” mid last year.

It appears to be a downline builder for various recruitment driven schemes.

xplocial-affiliate-kristi-johnson-we-the-people-downline-builder

As above, the promotional material I saw featuring Kristi Johnson’s name boasted of the creation of 600 affiliates in an Xplocial downline ($29-$100 cash gifting).

Earlier in the year Johnson used We The People Downline Club to push “Pro Matrix Plus”, a $25 matrix-cycler pyramid scheme.

We the People Downline Club is joining Pro Matrix Plus as a group right now.

Join the downline for free and then Pro Matrix Plus for a one time fee of $25.00 and no monthly costs! You will need a Secure Trust Pay account and the fees for that and using it to fund your Pro Matrix Plus membership are usually about $6.00, so your total cost to join up are $31.00.

That’s all you ever pay and the payouts for Pro Matrix Plus grow from $25.00 for your first cycle all the way to one million dollars! You can stay in Pro Matrix Plus forever for that one fee, and continue to cycle.

Then We the People Downline Club builds your downline for you with everyone else in the group, moving you through Pro Matrix Plus. It is a 2×2 matrix, so once you have your two people and they have their two your matrix is full and you cycle.

Going back even further, Johnson was involved with Level 9 App ($7.95 a month + $2 qualifier to earn recruitment commissions).

In going through both Barnes and Johnson’s MLM histories, I definitely was feeling the “shiny new thing” vibe.

Now, with the launch of Achieve Community, it seems both Barnes and Johnson have decided to run their own company instead of joining countless others.

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