Articles under ‘companies’:

MMM Nigeria victim drinks insecticide, dies after stomach complications

The collapsed MMM Nigeria Ponzi scheme has claimed another victim, following a young man’s passing last Monday. Adakole, as the young man was known, was due to be wed last December. On December 14th, MMM Nigeria suspended all affiliate withdrawals and effectively collapsed. This prompted Adakole to drink insecticide, in an apparent bid to end [Continue reading…]

Norwegian regulator seeks permission to attend OneCoin event

Regulatory concerns about OneCoin are heating up in Norway, with news that the country’s top regulator has asked to attend a recruitment event this Saturday. Norwegian banks have also started blocking investment into OneCoin.

Click Intensity collapsing, plans Ads Cash Coin pump & dump relaunch

Click Intensity launched last year as a $25 in, $30 out adcredit Ponzi scheme. Just shy of a year from launch, Click Intensity appears to be on the way out: No doubt desperate to raise ROI revenue, Click Intensity is now gearing up to enter the pump and dump MLM cryptocurrency niche.

Nerium Skincare accuse Jeff Olson of running “illegal financial schemes”

Nerium is involved in so many lawsuits at the moment that I’m finding it difficult to keep track of them all. There’s the Dennis Windsor lawsuit, the Modere lawsuit, the “chemical burns & disfigurement” lawsuit…. One that slipped through the cracks update wise was the Nerium Skincare lawsuit, filed in August, 2015.

Ponzi frustration? Jose Nunes bashes girlfriend in front of daughter

It takes a certain type of character to front online Ponzi schemes that rip people off for millions of dollars each year. Sadly it comes as little surprise to learn one of Traffic Monsoon’s prolific cheerleaders has a history of domestic violence.

MMM Returns Review: 150% ROI MMM Global Ponzi reboot

The MMM Returns website brands the opportunity as a “Sergey Mavrodi venture”. I am Sergey Panteleevich Mavrodi, legal professor and administrator for an [sic] self sustaining owned global social financial revolution system called MMM Returns. Mavrodi is a convicted felon who first popped up on BehindMLM’s radar in 2015. Through MMM Global, Mavrodi (right) scammed [Continue reading…]

My 24 Hour Income collapses (again), withdrawal noose tightened

The dilemma of a Ponzi scheme is paying affiliates enough to keep them around, without exhausting funds invested. Mathematically this is a zero-sum game. Once funds paid out eclipse funds invested, it’s game over. Trouble is a Ponzi scheme always promises to pay out more than invested. This ever-growing liability always triggers an eventual collapse. For My 24 [Continue reading…]

Kairos Technologies’ payment processor issued cease and desist

Amid ongoing delays in paying their affiliates, Kairos Technologies announced the use of SchonPay on February 2nd. Please note that this payment option is functioning in test mode. We recommend you to register in Schonpay system and to create a withdrawal request in the KairosPlanet Cabinet using the SchonpayID. The algorithm for creating these applications [Continue reading…]

Zeek Reciever files 4th quarter 2016 Status Report

On February 14th the Zeek Rewards Receiver filed his Status Report for the fourth quarter of 2016. Nothing much new in the report, but it does give us a current status update as to where everything’s at. I’ve included the more interesting parts of the report below under respective headings.

OneCoin warning issued by Bank of Uganda

aUganda is the latest country to issue a regulatory warning against OneCoin. A notice published by the Bank of Uganda on February 14th all but accuses OneCoin of being a Ponzi scheme.