Articles under ‘companies’:

USFIA Receiver seeks $5.3 million clawback from Steve Chen’s ex-wife

While gullible USFIA investors were lead to believe they were investing in GemCoin points backed by valuable amber, on the back-end Steve Chen was siphoning off millions of dollars to enrich himself and his family. One recipient of stolen USFIA investor funds was Wei He, Chen’s ex-wife. The USFIA Receiver alleges He received over five million [Continue reading…]

Phoenix Power Rising admin arrested for securities fraud

Terri Ann Petty first popped up on BehindMLM’s radar last year, as admin of the Phoenix Power Rising cycler Ponzi. Following complaints from her investors, authorities in Ventura County launched an investigation. Petty was subsequently arrested for securities fraud on August 31st.

ATC Coin founder wanted by police for diverting invested funds

Subash Jewria (aka Subhashchand Jewria) founded the ATC Coin pump and dump altcoin pyramid scheme earlier this year in March. Built on the ATCC cryptocurrency, Jewria offloaded premined ATCC to victims based on the “projected value” of the coin. According to official ATC Coin projections, ATCC was supposed to be worth a minimum ₹25 INR (38 [Continue reading…]

Did Talk Fusion pay off affiliates who made pyramid allegations?

Talk Fusion is an MLM company that primarily markets an email video product suite. BehindMLM reviewed Talk Fusion in 2014 and concluded the company’s ‘paid video communication services … are entirely redundant.‘ The follow on from this is that retail is likely to be virtually non-existent. And as per the FTC, an MLM company without significant [Continue reading…]

Dennis Gray’s RICO lawsuit dismissed after he rejoins Talk Fusion

In late 2015 former affiliate Dennis Gray filed a class-action RICO lawsuit against Talk Fusion. In his lawsuit Gray alleged he had been deceived by the Talk Fusion’s misleading business opportunity, falsely believing it was a legitimate way to earn money, and did lose money as a result of Defendants’ unfair and unlawful business practices. [Continue reading…]

iMarketsLive investment warning issued in Colombia

According to Alexa, Colombia is currently the fourth largest source of traffic to the iMarketsLive domain. The recruitment efforts of Alex Morton and his posse haven’t gone unnoticed by the Superintendencia Financiera de Colombia, who earlier today issued an investment warning against iMarketsLive.

USI-Tech lied about $70 million dollar BitFury contract?

Not content with spreading lies about registering their Ponzi scheme with the SEC, USI-Tech and their affiliates are spreading porky pies about a contract with BitFury. For those unfamiliar with the company, BitFury claim to be a “full service Blockchain technology company”. The Bitfury Group develops and delivers both the software and the hardware solutions [Continue reading…]

My Cycler to reboot as cryptocurrency mining package Ponzi

Manos Sergakis launched My Cycler a year ago after his One World Ads Ponzi scheme collapsed. My Cycler offers Ponzi ROIs through a five-tier matrix cycler. Alexa traffic estimates show a decline in My Cycler traffic  throughout 2017: What this means for a cycler Ponzi is that recruitment has slowed down such that the majority, [Continue reading…]

MBI Ponzi scheme duped 350,000 affiliates out of $165 million

An ongoing investigation by Malaysian authorities has revealed the MBI Ponzi scheme saw 350,000 affiliates lose 700 million MYR ($165 million USD). MBI was a Ponzi scheme based on GRC Unit Ponzi points. MBI affiliates invested up to $35,000 in GRC Units, the internal value of which was set by MBI.

MinerWorld CEO attributes Paraguay CNV warning to “misinterpretation”

One would think it’s pretty hard to misinterpret “Your company is not registered with us or authorized to conduct business in our country”, but that’s exactly what Miner World’s CEO is claiming.