Serial Ponzi promoter Shelley Cullen has been convicted of five violations of New Zealand’s Fair Trading Act.

Cullen, who once declared she wanted to be “one of the biggest scammers in NZ”, is facing a fine of up to $600,000 NZD per violation. [Continue reading…]

Former OneCoin promoter Ken Labine has launched an MLM company he’s calling NFPT.

Labine claims he’s been “working towards” NFPT his “whole life”. Beyond the compensation plan though, NFPT specifics are intentionally vague. [Continue reading…]

Following their arrest in 2016, AlphaPool and Bonofa ringleaders Detlef Tilgenkamp, Thomas Kulla, Gernot Fuhr and Martin Böhm have received prison sentenced. [Continue reading…]

As part of ongoing criminal proceedings against Sam Lee, Brenda Chunga and Rodney Burton, the DOJ is seeking HyperFund victim impact statements.

Investors who lost money in HyperFund, Hyperverse and/or HyperNation are able to get further details from the DOJ’s website.

HyperFund victim impact statements can either be mailed in or emailed (a PDF template is provided). [Continue reading…]

BehindMLM last checked in on Beep Xtra back in 2017. Looking to get in on the cryptocurrency grift bandwagon, Beep Xtra had opted for XCoin mining securities fraud.

Approximately seven months ago Beep Xtra resurrected its defunct YouTube channel to start promoting “Seriod 4.0 Masternodes”. [Continue reading…]

The GSPartners spinoff Billionico has received a securities fraud cease and desist from Texas.

Named respondents in the Texas State Securities Board’s April 22nd emergency cease and desist order include: [Continue reading…]

OneCoin’s Mark Scott has secured release pending the outcome of his appeal. [Continue reading…]

GoldenWarehouse fails to provide ownership or executive information on its website.

GoldenWarehouse’s website domain (“goldenwarehouse888.com”), was privately registered on March 22nd, 2024.

If we look at GoldenWarehouse’s website source-code, we find the local language is set to Chinese:

This suggests whoever is running GoldenWarehouse has ties to China.

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…]

Stable Swap fails to provide ownership or executive details on its website.

Stable Swap’s website domain (“stableswap.live”), was privately registered on October 26th, 2023.

A link on Stable Swap’s website takes us to its official YouTube channel.

There we find videos in Taglish, a combination of Tagalog and English. Taglish is primarily used in the Philippines.

Stable Swap marketing videos are hosted by Pat Gallardo:

Gallardo has his own YouTube channel, on which Stable Swap marketing videos have also been uploaded.

Before Stable Swap, circa September 2023, Gallardo was promoting Swych.

That seems to have lasted about five months. The first Stable Swap marketing went up on January 9th, 2024.

As of March 2024, SimilarWeb tracked top sources of traffic to Stable Swap’s website as the Philippines (71%) and Australia (23%).

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…]

SolHeist fails to provide ownership or executive information on its website.

In SolHeist marketing videos, an AI robo avatar named “Sol Professor” represents the company.

In addition to being incredibly stupid, this is an immediate red flag. AI robo avatars are typically used by scammers to hide their involvement in fraudulent schemes.

SolHeist has two known website domains:

• solheist.io – privately registered on March 17th, 2024
• solheist.org – privately registered on March 17th, 2024

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…]