There is no information on the BitClub Network website indicating who owns or runs the company.
The BitClub Network website domain (“bitclubnetwork.com”) was registered on the 22nd of July 2014, however the domain registration is set to private.
The BitClub Network website itself is being hosted out of the Netherlands, without more information however it’s not clear whether this is also where the owner(s) of the company are based out of.
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...]
I tried to maintain tabs on what was going on with TelexFree while I was on break. Mostly it was paper pushing between the parties involved (scheduling, replies etc.), but there was one court document filed that I felt was a must-read.
On the 18th of August the SEC filed a “Motion For Complex Case Designation And Exclusion Of Time” and in it, the scope of case the US government are putting together against TelexFree was revealed for the first time.
Simply put: It’s nothing short of epic. [Continue reading...]
If we learnt anything over the roughly three years it took Mumbai’s EOW to file a chargesheet against Speak Asia, it’s that Indian regulators were woefully ill-equipped to deal with the smoke and mirrors that accompanies modern Ponzi schemes.
With millions of dollars at their disposal, those who ran the scheme paid off an army of affiliates and supporters to rally behind their cause. This saw regulatory proceedings against Speak Asia head to the Supreme Court where, under a foundation of lies, they were delayed for months on end.
Eventually the Supreme Court saw through the farce but by then it was well and truly too late. Ditto when the EOW eventually filed a chargesheet against the company late last year.
In the aftermath of one of the more destructive yet not so widely discussed scams however comes some relief.
With its origins dating back to late last year and it having seen three incarnations since, a few days ago a new law was passed granting SEBI access to an expedited court of their own. [Continue reading...]
Following on the heels of earlier news today that the ACCC regulatory body in Australia are suing Lyoness for being a pyramid scheme, comes a response from the company.
Hollow rhetoric and colossal amounts of waffling?
Youbetcha! [Continue reading...]
It’s not exactly how I pictured easing myself back into blog coverage of the MLM world, but news broke last night that Lyoness are being prosecuted by Australian regulators.
As per their website, the Australian Competitor Consumer Association (ACCC)
promotes competition and fair trade in markets to benefit consumers, businesses, and the community. We also regulate national infrastructure services.
Our primary responsibility is to ensure that individuals and businesses comply with Australian competition, fair trading, and consumer protection laws – in particular the Competition and Consumer Act 2010.
So what’s their beef with Lyoness?
Lyoness International AG, Lyoness Asia Limited, Lyoness UK Limited and Lyoness Australia Pty Limited (together ‘Lyoness’) (are) operating a pyramid selling scheme and engaging in referral selling.
How totally not surprising. [Continue reading...]
The 60 Second Millionaire Secrets launched in the first quarter of 2014 and provides a PO Box in Antigua and Barbuda as a contact address.
The company website domain however (“60secondmillionairesecrets.com”) is registered to a Tracy Davison, who provides an address in Makiti City in the Philippines.
On The 60 Second Millionaire Secrets website, Davison is identified as the Founder of the company. This indicates that in reality it is being run out of the Philippines and not the West Indies.
Prior to his launching of 60 Second Millionaire Secrets this year, Davison was an affiliate in Penny Matrix.
Penny Matrix launched in early 2011 and using a 2×14 matrix compensation structure, pay affiliates to recruit new affiliates. As long as everybody paid their $7 a month fee, commissions are paid out.
Prior to Penny Matrix Davison was involved in Zeek Rewards.
Tracy Davison the 60 Second Millionaire is currently moving his Zeek Rewards organization of 222,000 people to do PMeBooks. Get in now, while there is plenty of spillover to capture from his organization!
It would appear Davison was using the “60 Second Millionaire” moniker long before he decided to turn it into an MLM opportunity.
In the video itself, Davison reveals
Hello my name is Tracy Davison, I am a millionaire.
I’m a seven-figure income earner in network marketing and in a recent opportunity I was able to build, organically from the ground up, I put in uh fifty eight people personally into this opportunity over the course of about fifteen months.
And then I worked with those people very closely (and) we were able to build an organization of 222,000 people over the course of just fifteen months. Our first fifteen months. That was completely, completely organic growth.
So, I ‘ve come across something recently that I’m very excited about, the company that I did that with went out of business unfortunately. It had nothing to do with me. There were circumstances beyond my control.
But I’ve got this massive organisation of 220,000 people that I’ve got to do something with, and I’ve chosen an opportunity that I think will fit my organization.
Whereas Davison claims Zeek Rewards “went out of business”, the reality is that they were shut down by the SEC for being an $850M Ponzi scheme.
Davison, as a resident of Pleasant Grove in Utah, appears on a list of net-winners in the Zeek Rewards scam who the Receivership is going after:
One can confirm the above Tracy Davison and the 60 Second Millionaire Secrets Davison are one and the same, with this Meetup profile of Davison’s from 2011:
I’m looking for 100 people that want to grow 10k into a milion (sic) over the next year through Zeek Rewards.
Now residing in Makiti City, it would appear Davison fled the US for the Philippines upon learning the Zeek Rewards Receivership intends to sue him and reclaim the money he stole from victims of the scam.
Read on for a full review of the 60 Second Millionaire Secrets MLM business opportunity. [Continue reading...]
SocialZing operate in the lead generation MLM niche, with the company’s website claiming the opportunity launched back in 2011:
SocialZing was formed in 2011 when its founders recognized the synergy between social media, prospecting and conversion solutions. Initial technology solutions were soon launched and demand for such began to swell.
Since then, SocialZing has grown to become a leading provider of integrated technology solutions focused on helping agents and organizations invite, present, and convert contacts into new customers.
Whether they were operating under a different name I’m not sure, but the current SocialZing website domain (“socialzing.me”) was only registered in September of 2013.
Listed as CEO and Co-founder of SocialZing on the company website is Scott Brodkorb (right).
According to Brodkorb’s SocialZing corporate bio,
Scott discovered the power of Network Marketing 23 years ago when he became a distributor for a large Telecommunications Company. Scott has built several large organizations in his networking career while working as a Corporate Executive at a Fortune 100 company.
The only MLM history I was able to dish up was Brodkorb advertising something called “Home Business 2.0″ as an affiliate a few years back.
Home Business 2.0 looks to be a $100 to $300 upfront plus $9.95 a month, with affiliates paid 50% of the fees charged affiliates they recruit (1-up compensation plan).
This was before SocialZing. Whether or not Brodkorp was involved in any other opportunities prior to SocialZing is unclear.
In any event, things with Home Business 2.0 didn’t seem to work out and so Brodkorp went on to launch SocialZing.
Read on for a full review of the SocialZing MLM business opportunity. [Continue reading...]
All but confirming their Paypal and Solid Trust Pay account(s) have been suspended and/or possibly frozen, Race Cycler have sent out an email update announcing they have approached i-Payout.
Sent out to Race Cycler affiliates a few hours ago, Kent Brown writes [Continue reading...]
Eagle-eyed BehindMLM reader James Charles has noticed that all references to Kevin Grimes have been removed from the Grimes & Reese website.
Now calling themselves R&R Law Group, the change appears to have taken place over the last few days. A Google cache snapshot reveals that Kevin Grimes still appeared on the site, and that the name Grimes & Reese was still in use as of August 8th.
Since then, what was once Grimes & Reese have removed any mention of Kevin Grimes (right) from their mlmlaw.com website. The firm has also changed it’s name to R&R Law Group. [Continue reading...]
In our initial BehindMLM review of Race Cycler, it was noted that affiliates were naming Kent Brown as the owner of the company.
As is typical with the MLM underbelly, the amount of smog surrounding Race Cycler is as thick as a Beijing Monday.
In the aftermath of the failed August 8th launch, Race Cycler affiliates “in the know” have been holding calls where a combination of server errors and payment processor problems have been cited for Race Cycler’s launch delay.
When exactly Race Cycler will launch is up in the air, with affiliates confirming problems with both Paypal and Solid Trust Pay being largely behind the delays.
Paypal have a strict no MLM policy (which extends to its MLM underbelly variants), but the problems with Solid Trust Pay are an eye-opener. Solid Trust Pay aren’t exactly known for their adherence to regulatory compliance, so if even they won’t have anything to do with Race Cycler, make of that what you will.
I have seen iPayout touted as a possible replacement, but nothing concrete. If they do decide to get on board, it’d certainly be sending mixed messages to the industry.
It was only a few weeks ago iPayout kicked Argent Pay to the curb, with the scheme later confirming they had compliance issues in the US.
Anyway, while Race Cycler scramble to find a payment processor desperate enough to take on the risk of managing backoffice transactions for their cylcler pyramid, new information suggests the scheme might be more closely related to TNT Rotator than first thought. [Continue reading...]