Mabcredit Review: Vague finance Ponzi scheme
Mabcredit fails to provide ownership or executive information on its website.
Mabcredit’s website domain (“mabcredit.com”), was first registered in 2009. The registration was last updated with bogus details on June 9th, 2022.
The current Mabcredit website went online on or around 2021. Through the Wayback Machine we can see that prior 2021, the Mabcredit domain was used by an unrelated lighting company:
Despite this, on its website Mabcredit falsely claims it has been around since 2009.
As for Mabcredit being based out of the US, this is tied to a virtual office address in Delaware provided on Mabcredit’s website. Mabcredit doesn’t appear to have any actual ties to the US.
As of March 2024, SimilarWeb tracked top sources of traffic to Mabcredit’s website as the Netherlands (77%), the US (10%), Canada (9%) and Italy (5%).
On the regulatory front, Mabcredit has already received fraud warnings from the Netherlands (AFM, September 2023), Belgium (FSA, September 2023) and Australia (ASIC, December 2023).
If you want the particulars of Mabcredit’s fraud, read on for a full review. [Continue reading…]
William Morro arrested for OneCoin money laundering
William Morro has been arrested on OneCoin money laundering charges.
As per an April 23rd superseding indictment charging Morro with bank fraud; [Continue reading…]
Shelly Cullen convicted of Lion’s Share pyramid scamming
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…]
NFPT: Ken Labine launches MLM pyramid scheme
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…]
Bonofa scammers sentenced to 6-7 years in prison
Following their arrest in 2016, AlphaPool and Bonofa ringleaders Detlef Tilgenkamp, Thomas Kulla, Gernot Fuhr and Martin Böhm have received prison sentenced. [Continue reading…]
DOJ seeking HyperFund victim impact statements
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…]
Beep Xtra reboots scam with “Steroid 4.0 Masternodes”
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…]
Billionico securities fraud cease & desist from Texas
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…]
Mark Scott released pending outcome of OneCoin appeal
OneCoin’s Mark Scott has secured release pending the outcome of his appeal. [Continue reading…]
GoldenWarehouse Review: Ecommerce “click a button” app Ponzi
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…]
