Coenraad Botha fined R216 million for CBI Global fraud

Coenraad Botha has been fined R216 million ($11.3 million USD) by South Africa’s Financial Sector Conduct Authority (FSCA).

Botha, a licensed lawyer in South Africa, has also been disbarred for ten years. [Continue reading…]


Coinset collapses, GFST rebranding

The Coinset NFT Ponzi scheme has collapsed.

As per communications sent out to investors, Coinset will officially be abandoned for GFST as a company name from April 1st. [Continue reading…]


FlipMe: Third Mavie Global Ponzi spinoff

FlipMe operates in the cryptocurrency MLM niche.

The company website domain (“flip-me.com”), was first registered in 2016. The private registration was last updated on October 12th, 2023.

Through the WayBack Machine we can see there was nothing on the domain as of September 2023. This indicates the domain was purchased on or around the October 2023 registration update.

There is no mention of Mavie Global or CEO Michal Prazenica on FlipMe’s website. [Continue reading…]


MTI liquidators sue US top net-winners

Mirror Trading International’s South African liquidators have initiated clawback proceedings against top US net-winners. [Continue reading…]



TethEx collapses, blames “banking partners”

The TethEx Ponzi scheme has collapsed.

As per a March 27th announcement post in TethEx’s official Telegram group, TethEx has “suspended” its “card program”. [Continue reading…]


Modere sues former top earners over Frequense recruitment

Modere has filed a federal lawsuit in Utah, accusing several former “high-ranking distributors” of poaching for Frequense. [Continue reading…]


Qyral “legal update” and… the affair.

After news of Qyral founder Hanieh Sigari’s lawsuit against husband Dariusz Banasik broke, Banasik, through the “Qyral Corporate” account, sent out a “legal update” email.

The update provides insight into Sigari’s alleged fiduciary breaches, which Banasik accused her of on March 22nd. [Continue reading…]



World Community Review: Fundraising ruse pyramid scheme

World Community fails to provide ownership or executive information on its website.

World Community’s website domain (“worldcommunity.biz), was privately registered on November 1st, 2023.

Further research reveals Henrique Machado citing himself as CEO of World Community on Instagram:

Machado, who cites himself as a resident of Portugal on his FaceBook profile, is a former promoter of the OneCoin Ponzi scheme.

Circa 2022, Machado had moved on to promoting the collapsed Decentra Ponzi scheme.

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…]


Battle for Qyral: Hanieh Sigari sues husband Dariusz Banasik

Delivering on her communication to Qyral consultants a few days ago, founder Hanieh Sigari has sued husband Dariusz Banasik. [Continue reading…]


Quantum Club Review: $14,997 “Hulk Smash” AI trading bot

Quantum Club surfaced last year and operates in the forex and commodities trading MLM niche.

Quantum Club’s website domain “quantumclub.ai”, was privately registered on December 12th, 2023.

Initial research into Quantum Club revealed it was headed by David Wood and two other undisclosed co-founders.

That remains the case, with Quantum Club’s website nothing more than an affiliate signup/log in form as of March 2024.

No information about Quantum Club, its owners, executives or products are provided.

While we know David Wood is based out of Costa Rica, where Quantum Club is operating from remains unknown.

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…]