NxPay refuse to return $9 million in stolen Ponzi funds

zeekrewardsIn its later days, NxPay was the ewallet of choice for Zeek Rewards.

The e-wallet service operates as a “platform” for transferring funds between two parties: one party makes funds available to another party, but until the receiving party takes action to withdraw the funds, “the funds are within the control of the party transferring the funds and the transfer of ownership is
not complete.”

Zeek Rewards, an $850M Ponzi scheme, was shut down by the SEC back in August of 2012. At the time, NxPay held $31.9 million ($21.2 million Zeek’s ewallet account and $10.7 million in frozen funds).

NxPay identified and froze RVG funds that were in the process of being “made available” to affiliates at the time of the Court’s asset freeze but which were never withdrawn and therefore were still RVG funds.

RVG standing for “Rex Venture Group”, Zeek Rewards’ parent company.

The frozen funds was based on calculating what affiliates who had funds in NxPay accounts were entitled to.

Essentially, all accounts “linked” to ZeekRewards were frozen and the funds in those accounts were transferred to a master “Settlement Account.

NxPay then used a “netting” accounting method to separate RVG money from money paid in by affiliates that remained in their accounts.

After NxPay returned money belonging to account holders, the balance (totaling $10.738 million) was all RVG money.

This “netting accounting method” saw affiliates who profited from the scheme forfeit funds held in their NxPay accounts. Those who lost money were given funds up to the amount they invested in Zeek, with any remaining being deemed property of RVG (ergo the Zeek Receivership).

Curiously, while NxPay has returned the $21.2 million held in Zeek’s ewallet account, they’re to this day still refusing to hand over $9 million in stolen Ponzi funds. [Continue reading…]


World Ventures cease business operations in Norway

world-ventures-logoFollowing the rejection of World Ventures’ appeal in Norway last week, the company continues to push plans to sue the Norwegian government.

Speaking with Levangeravisa on Monday, Norwegian World Ventures spokesperson Steinar Husby said

We will now go to court to keep operations running while the case continues. We will ask for a temporary injunction to prevent our members suffering.

Whether or not the injunction request has been filed is unclear, however Husby told Levangeravisa that he expects a decision to be made “during the next few weeks”. [Continue reading…]


iCashCloud Review: Max Stiegemeier at it again…

There is no information on the iCashCloud website indicating who owns or runs the business.

The iCashCloud website domain (iCashCloud) was registered on the 6th of October 2014, however the domain registration is set to private.

Further research however reveals that DNS information attached to iCloudCash’s name-servers has an email address attached to it:

nameserver-dns-records-icashcloud

This email address belongs to Max Stiegemeier:

max-stiegemeier-email-header

Stiegemeier previously launched AutoProfitMachine and Auto Profit Global back in 2011.

AutoProfitMachine saw affiliates pay $50 to join and then receive $25 per affiliate they recruited, with residual recruitment commissions paid out down three levels of recruitment.

Auto Profit Global charged affiliates $200 to join and paid them $100 to recruit new affiliates.

Both schemes collapsed shortly after launch.

Research reveals that with iCashCloud Stegemeier is using a script provided by “Incentive Scripts”.

icashcloud-powered-by-incentive-scripts

On their website, Incentive Scripts market a script called “ClixScript”.

ClixScript features advertised include:

  • affiliate CPA offers and offerwalls
  • a gift shop
  • PTC and banner advertising
  • 10 level deep MLM referral “system”
  • paid to share
  • revenue-sharing
  • advanced bot system that works “just like human clickers”

A basic ClixScript subscription costs $89.99 a year.

One other thing worth mentioning is the presence of a UK based address in iCashCloud’s refund policy:

We only replace items if they are defective or damaged.

If you need to exchange it for the same item, send us an email at (removed) and send your item to: Third Floor 207 Regent Street. London, W1B 3HH.

A Google search reveals this address to belong to the company “Complete Formations”, who sell a “Regent Street Registered Office” and mail forwarding at this address for 199 GBP ($313 USD).

With Stiegemeier based in the US, why he’s opted for a forwarding address in the UK for iCashCloud is a mystery.

Read on for a full review of the iCashCloud MLM business opportunity. [Continue reading…]


Globally Positioned Partners: Ceracoat push into US

globally-positioned-partners-logoGlobally Positioned Partners launched in December 2014 and are headed up by CEO Ken Howard.

No location information is provided on the Globally Positioned Partners website, however the company’s website domain lists a contact address in the US state of Florida. Presumably this is where the company is based.

ken-howard-ceo-globally-positioned-partnersOn the MLM side of things Howard (right) doesn’t appear to have any corporate MLM experience. His Globally Positioned Partners bio does however credit him with ‘having served in the Mechanical Trades over 37 years’.

Ken retired from Steamfitters Local 602, Washington DC in 2013, after a 37 year career and has since sold his HVAC Company, Ken Howard Mechanical in Northern Virginia in 2014.

Globally Positioned Partners has come about following a partnership forming between Howard and CeraCoat Direct founder Elio Keller.

CeraCoat Direct primarily concentrate on marketing the company’s products in Europe, with Howard looking to establish the brand in the US.

Ken recently acquired the Global Exclusive Master Distributor Marketing License for a revolutionary nano technology ceramic coating, invented and manufactured by a 26 year old debt free Swiss Nano Tech company called Ceracoat Ceramic International.

Since acquiring the Global Exclusive Master Distributor Marketing License for this revolutionary nano technology ceramic coating, Ken Founded Globally Positioned Partners.

Read on for a full review of the Globally Positioned Partners MLM business opportunity. [Continue reading…]


Mega Holdings Review: $250 domain and website hosting?

mega-holdings-logoMega Holdings claim to be incorporated in both Dubai and Hong Kong.

Prior to that the company was “relocated to Malaysia” in 2005, which matches the company’s website domain registration (Feb 2005).

The Dubai and Hong Kong certificates of registration provided on the Mega Holdings website are dated 2010 and 2011 respectively, indicating that this is likely around the time the current incarnation of the company began.

bon-sian-son-mega-holdings-ceoCredited as founder of Mega Holdings is Michael Cheng Tiau Kiat, with “S. S. Bon” (aka San Sian Bon) serving as CEO (right).

In his Mega Holdings corporate bio, Kiat is credited with being ‘a world-renowned net worker, a millionaire entrepreneur, a great mentor and mathematician‘ who ‘at 26, was already an independent business owner making megabucks‘.

Despite the mention of Kiat being a “world-renowned net worker”, I was unable to find an MLM history for him prior to Mega Holdings. Ditto San Sian Bon.

As such, it appears Mega Holdings is both Kiat and Bon’s first MLM outing on the executive side of things.

Read on for a full review of the Mega Holdings MLM business opportunity. [Continue reading…]


NeedsLike Review: Social media rigging and MLM?

needslike-logoThere is no information on the NeedsLike website indicating who owns or runs the business.

We, NEEDS GLOBAL, INC. is a leader in online Forex trading since Dec 2004.

We do provide services including Bank Guarantee (BG), Stand-By Letter of Credit and Medium Term Notes (MTN).

We are having highly experienced staff of 25 Social Media Experts that provide on demand, instant and convenient way to deliver solutions to your social needs. Also we are making sure your orders are processed perfectly.

The language above (grammar) suggests NeedsLike is likely run by Indians.

The NeedsLike website domain (“needslike.com”) was registered on the 26th of September 2014 and lists a “Melissa Medina” from “Needs Global INC” as the owner. An address in Panama is also provided.

The address provided for Needs Global is “The Century Tower Building Ricardo J Alfaro Street, Panama”. Research reveals other business supplying floor and suite numbers in this building, indicating that NeedsLike is not actually based at this address.

Furthermore the name “Melissa Medina” does not appear anywhere on the internet in conjunction with NeedsLike or Needs Global INC, save for the registration of the NeedsLike website domain.

Alexa also currently estimates that 38.5% of all traffic to the NeedsLike website is from India.

needslike-alex-stats-nov-2014

Promotional material from NeedsLike affiliates reveals Indian names being used to push the scheme, with at least one affiliate comparing the company to Speak Asia:

needslike-promotion-speak-asia-ponzi

Speak Asia was one of India’s largest MLM Ponzi schemes to date. The multi-million dollar fraud was shut down by Indian regulators back in 2011.

Given all of the above, it’s highly probable that Melissa Medina doesn’t exist, along with NeedsLike’s purported office in Panama.

NeedsLike is being run out of India by Indians who, for reasons known only unto themselves, do not want you to know who they are.

As always, if a 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…]


World Ventures lose Norway appeal, still a pyramid scheme

world-ventures-logoThe story so far:

May 2013 - Norwegian Gaming Board announces investigation into World Ventures. The company is suspected of operating a pyramid scheme.

Feb 2014 – Norwegian Gaming Board finds World Ventures to be a pyramid scheme.

The Gaming Board concludes that World Venture’s activities in Norway are an illegal pyramid game because revenues almost exclusively come from recruiting members and not the sale of travel residence.

An enforcement directive sees World Ventures immediately required to “stop all activity” in Norway.

In response, a World Ventures attorney told Nigerian media that the company

disputes the basis the ban is imposed on. The company looks forward through the legal process to a thorough and objective review of the basis on which the Gaming Board has made their decision.

It is our opinion that the Authority’s basis in both fact and law is untenable.

In light that an appeal is to be filed, the Gaming Board voluntarily suspends their enforcement action. This means World Ventures is free to operate after the filing of an appeal.

May 2014 – World Ventures files an appeal challenging the Gaming Board’s investigation.

In a press-release the company states

a number of the factual and legal aspects of the Gaming Board report (are) unfounded and associated with failure.

WorldVentures considers that there are no reasons for banning business.

November 2014 – Over the past five months or so Lotterinemnda, the government department in charge of overseeing and deciding on Gaming Board appeals, has been going over World Ventures appeal.

Supporting documents have been filed by World Ventures throughout September and October, but unfortunately they were filed under seal and are not publicly available.

After reviewing all the information provided to them however, Lotterinemnda advised World Ventures that they would make a decision no later than the 24th of November.

Late last week saw the 24th of November come and go, with Lotterinemnda’s decision being made available on their website late last week.

The verdict? [Continue reading…]


WCM777 victim payouts planned for mid/late 2015

wcm777-logoGood news for those who lost money in the WCM777 Ponzi scheme, affiliate claims could be processed and paid out as early as mid to late 2015.

But that’s only the tip of the iceberg in the court-appointed Receiver’s “Third Interim Report”.

Reading like a movie script at times, here’s what’s been going on behind the scenes as the Receivership struggles to make sense of Phil Ming Xu’s WCM777 Ponzi empire. [Continue reading…]


Marketing and Networking University Review: $64.95 mash

marketing-and-networking-university-logoThe clunkily named Marketing and Networking University bills itself as “the number one educational site for online success”.

Launched a couple of weeks ago, the company lists Beau Buckley, Steve Lawson, Fred Mandl and Aron Prins as co-founders on its website.

Beau Buckley’s Facebook profile contains promotional material for ViewTrakr:

viewtrakr-marketing-beau-buckley-cofounder-marketing-and-networking-university

ViewTrakr is a video-sharing opportunity that focuses on affiliate recruitment. Launched earlier this year, ViewTrakr appears to have gone into decline shortly after launch.

Alongside ViewTrakr, 2014 saw Buckley also promoting M&G Home Business:

m&g-home-business-marketing-beau-buckley-cofounder-marketing-and-networking-university

M&G Home Business sees affiliates pay $49.95 a month to join and then receive commissions for recruiting new affiliates.

In addition to also being involved in ViewTrakr, Steve Lawson was recently promoting the MLM social network Tsu.

quit-empower-network-video-steve-lawson-cofouner-marketing-and-networking-university2

Prior to that Lawson was involved in the Internet Lifestyle Network (recruitment-focused feeder for Global Resorts Network), Visalus, DS Domination, Xplocial and Empower Network.

Fred Mandl was promoting Staged on YouTube a few months ago (a platform the “hijacks” video content and plasters it with ads).

internet-lifestyle-network-video-frederick-mandl-cofounder-marketing-and-networking-university

In addition to Staged Mandl has been involved in ViewTrakr, Internet Lifestyle Network and Empower Network. Two marketing videos targeting Herbalife affiliates also appear on Mandl’s YouTube channel.

aron-prins-cofounder-marketing-and-networking-universityEarlier this year Aron Prins (right) launched IM Suite ($497 WordPress plugin library).

Launched around May 2014, today the IM Suite website advertises that it has 29 registered users. Prins is/was also an Empower Network affiliate.

It’s obviously no co-incidence that Marketing and Networking University’s four founders have been in a lot of the same MLM companies. After finding limited success, it appears they’ve gotten together and decided the best approach going forward is to launch their own opportunity together.

Two corporate addresses appear on the Marketing and Networking University website, one in Australia and one in the UK. This would appear to correspond with where three of the four co-founders are located.

Read on for a full review of the Marketing and Networking University MLM business opportunity. [Continue reading…]


New features from Zeek Receiver clarifies claim status

zeekrewardsBeen getting the odd comment from people a bit lost over there Zeek Rewards claim. I typically tell them to get in contact with the Receivership but that doesn’t really help when the Receivership apparently isn’t responding to every email sent in.

Well, good news for affiliate victims stuck in this situation. [Continue reading…]