Spinding set to relaunch, where is the app???

spinding-logoSpinding went into prelaunch in January and offered affiliates cycler positions. Priced between $30 – $1890, the company required a constant stream of new affiliates to buy positions in the cyclers to keep paying out positions at the top.

Being the legal compliance disaster that it was, it was entirely unsurprising that the official launch was delayed due to payment processors being unwilling to take on the risk Spinding’s business model brought with it.

Eventually finding a home with i-Payout, who despite being caught up in the TelexFree Ponzi scheme case, continue to provide payment services to a number of questionable opportunities, Spinding eventually launched… and then flopped.

With the cycler queues all but stalling shortly after launch, Paul Nash decided to implement a matrix layer to the scheme. The idea was that matrix payments would spur recruitment, which in turn would result in cycler positions being purchased.

After months of excuses and delays, angry Spinding affiliates who had previously ignored the glaring compliance issues with the scheme began to question its legitimacy. [Continue reading...]


LEO Review: Personal development DVDs & recruitment

leo-logoLEO, which stands for “Learn Earn Own” launched in 2012 and claim to have global headquarters in the UK.

I say claim because LEO’s supplied address, Howberry Manor is part of the Howberry Business Park.

Howberry Business Park provide a list of businesses in the park, with LEO being noticeably absent.

I’d be inclined to give the company the benefit of the doubt and suggest that perhaps the Howberry Park business listing wasn’t a complete directory, but when I punched in LEO’s other office addresses into Google here’s what I found:

  • Dubai – PO Box
  • Hong Kong – virtual mailing address provided by JumpStart ($134 HKD ($17.30 USD) a month)
  • Egypt – virtual office space provided by Regus
  • India – virutal office space provided by Regus
  • Turkey – lawyer office uses same address, advertises “virtual office serves” on their website (difficulty with language barrier)
  • Germany – “LEO Tower” address doesn’t appear to exist, website advises a LEO Tower might one day be built in Dubai

leo-tower-germany-doesnt-exist

Given this, I’m putting a question mark as to whether or not LEO has any actual office space anywhere in the world.

dan-andersson-ceo-founder-president-leoListed as the Founder, CEO and President of LEO is a one Mr. Dan Andersson (right).

Andersson’s LEO corporate profile is light on specifics, and instead reads as vague marketing copy:

In many ways Dan’s career has been a quest to find a platform to act as a catalyst for this vision of personal and professional development.

As a by product of this search he has gained European and Global direct selling executive experience; he did management and training consultancy to Fortune 500 companies.

Dan’s most relevant experience is probably when he was a training consultant, starting out of nowhere building a consultancy contributing to some of Europe’s most successful companies.

Clients included Toyota, DHL, Phillips, Digital Equipment, some of the largest retailers in the UK, banks, professional service firms, and a whole cross section of modern and traditional business.

After being a successful consultant he found himself back in Direct Selling when a UK Telecoms company asked him to join them as European Sales Director.

After that he joined one of the largest Chinese companies in the world and ended up as one of six Vice Presidents. Dan was responsible for the 24 countries in Europe, as well as Israel, Canada and USA.

I believe the “UK Telecoms COmpany” mentioned above is none other than SiteTalk/Unaico. BusinessForHome cited Andersson as President of the company in 2011.

Unaico SiteTalk was a failed MLM venture that revolved around a social network. A virtual share offering was tied into the business, along with commission qualification based on how much an affiliate paid the company.

Little to no retail activity took place, with SiteTalk Unaico collapsing around the time Annderson left in 2012. They’ve since rebranded as The Opportunity Network and have gone on to release multiple revisions of their Site Talk social network.

Last I checked in the company continued to operate at a loss and were trying to crack into the US market.

How much of  hand Andersson played in all of that panning out I have no idea, but as President he would have had some direct involvement back in the early Unaico SiteTalk days.

In any event, after apparently realizing that opportunity was going nowhere, Andersson abandoned ship and went on to launch LEO.

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


TelexFree Trustee drops second round of subpoena requests

telexfree-logoHot on the heels being granted permission to subpoena several individuals and companies in relation to their involvement with TelexFree, Stephen Darr has dropped a second motherload of subpoena requests.

No less than eight parties are named in this second round, with Darr requesting permission to “obtain documents” and conduct “oral examinations” for the purpose of aiding ‘the Trustee in his continuing investigation into the Debtors’ financial affairs‘.

In no particular order, the eight parties Darr has issued fresh subpoena requests to are [Continue reading...]


Norwegian Lyoness investigation half-assed?

lyoness-logoA few weeks back news broke that the Norwegian Gaming Board had concluded their investigation into Lyoness.

Known for their thorough regulatory analysis of MLM companies in the past (see Wealth Masters and World Ventures), it was hoped that the Gaming Board’s conclusion would shed light on some of the figures behind the scheme. In particular, how much of the company’s revenue was derived from investment in account units, and how much of it was from non-investing shopper members.

Unfortunately when the Gaming Board announced their decision, not much was made public.

(The) Gaming Board has considered the business of our company Lyoness in Norway.The conclusion is now clear.

The Company does not engage in illegal activities in Norway.

The (Gaming Board’s) preliminary audit report concludes Lyoness (is) not engaged in an illegal pyramid sales system in Norway in violation of the Lottery Act § 16 second paragraph.

This conclusion is based on the information that the Gaming Board has about Lyonness operations in Norway today.

We’ll be back with more detailed information on the matter later.

That was it.

While we’re still waiting for an official breakdown of the decision, Norwegian newspaper VG has managed to score an interview with the Gaming Board’s Monica Alisøy Kjelsnes. [Continue reading...]


Merrill wants $4M to defend himself. TelexFree funds?

telexfree-logoGearing up to battle US regulators in what is ““probably the largest pyramid scheme that’s ever been prosecuted by the Department of Justice” is James Merrill. All-round mister nice guy, devoted father, community pillar, loves his mum and owner of the billion dollar Ponzi scheme, TelexFree.

Having thus far appeared to cooperate with regulators, requests by Merrill to release non-TelexFree related funds have been assented to by the SEC. Now however Merrill is asking that $4 million in Ponzi funds be made available to fund his defense.

Has he gone too far? [Continue reading...]


IrisCall Review: Murky video email offering…

iriscall-logoThere is no information on the IrisCall website indicating who owns or runs the business.

IrisCall do have an “About Us” page on their website, however only the following vague marketing copy is provided:

IrisCall started out in 2013 as a collaborative effort between Top Software Engineers in the Field of Communication, an Experienced Marketing Team striving for WorldWide Expansion and a Team of Visionaries who have a Defined Path to Success to follow.

Ironically, on the same page IrisCall list their “core values” as being that of respect, integrity and accountability.

With those core values in mind, it’s worth noting that the depiction of an office on the IrisCall website is doctored:

fake-office-iriscall-website

The image used appears to be an edited stock photo, with edited versions of the same image appearing on at least two other websites:

fake-office-example-iriscall

fake-office-example2-iriscall

The IrisCall website domain (“iriscall.net”) was registered on the 4th of July 2013, and lists a “Gerry Dekens” as the domain owner with an address in Antwerpen, Belgium.

Whether or not IrisCall is actually run out of Belgium isn’t clear. In their “anti-spam” policy, IrisCall advises

You may also mail your concerns to us at the following address:

IrisCall International Ltd.
Indigo Icon Tower 608
Jumeirah Lakes Towers
DUBAI

This address is owned by the Freemont Group, who, according to their website, provide “offshore company” registration and “asset protection” services..

Dekens is credited as being the founder of IrisCall:

gerry-dekens-founder-iriscal

On his personal website (“gerrydekens.com”), he describes himself as being a

34 year old guy from Belgium.

All my skills are self-thought (sic), I’m not an expert at anything, but I know a little about a lot of things because I’m interested in Everything.

Dekens claims to have gotten involved in MLM around 1995-1996, during which he helped his father build a ‘multi level based organisation in the Netherlands‘.

After working non-MLM related jobs for some years, Dekens returned to MLM as a “country leader” in Global Wealth.

This lasted a year, with Dekens describing the experience as ‘a bad idea. The company management turned out to be untrustworthy.

He went on to launch his own company in 2010, but says that eventually failed in 2012 because ‘the partnership didn’t turn out to be a successful match.’

In 2013 Deken’s launched a “co-operative Profit Sharing Association”, which is what IrisCall appears to be a part of.

Why none of this information is provided on the IrisCall website is a mystery.

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


Faith Sloan’s motion for $15,800 to pay lawyer & rent denied

telexfree-logoThe spectacle of the battle between one of the industry’s most prolific Ponzi pimps and the SEC continues.

Hat in hand and convinced that, despite her determination to flout recent court orders against her, Faith Sloan approached the Massachusetts District and demanded $15,800 in frozen funds be made available to her.

faith-sloan-motion-denied-telexfree-sec-caseSloan argued that, despite sinking $18,884 into another Ponzi scheme less than two months prior, without the $15,800 she’d have no money to live on or pay her rent and attorney.

Additionally, the Judge hearing the case ruled on May 7th that “no carve-outs” (of money) would be issued to defendants who did not comply with orders to declare their assets to the SEC.

Without even so much as an explanation, yesterday saw Sloan’s request wholly denied. On a photocopied page from Sloan’s original request, the words “motion denied” are scribbled along with Judge Gorton’s signature. [Continue reading...]


Zeek Receiver sues Howard Kaplan for “legal negligence”

zeekrewardsYesterday saw the Zeek Rewards Receivership file a request for permission to “file separate actions against” two of Zeek’s attorneys.

Explaining the request, the Receiver wrote

After careful analysis of RVG’s written and electronic records, extensive document review and numerous interviews with relevant witnesses, the Receiver has concluded that two attorneys hired by RVG (and their related entities) caused significant damages to RVG by their negligent and other wrongful conduct.

The order was granted on the same day in a North Carolina District Court, after which the Receiver went on to file his actions.

Named as defendants in the actions are attorneys Kevin Grimes and Howard Kaplan and their respective law firms. [Continue reading...]


Zeek Receiver sues Kevin Grimes for “legal malpractice”

zeekrewardsYesterday saw the Zeek Rewards Receivership file a request for permission to “file separate actions against” two of Zeek’s attorneys.

Explaining the request, the Receiver wrote

After careful analysis of RVG’s written and electronic records, extensive document review and numerous interviews with relevant witnesses, the Receiver has concluded that two attorneys hired by RVG (and their related entities) caused significant damages to RVG by their negligent and other wrongful conduct.

The order was granted on the same day in a North Carolina District Court, after which the Receiver went on to file his actions.

Named as defendants in the actions are attorneys Kevin Grimes and Howard Kaplan and their respective law firms.

[Continue reading...]


TelexFree Trustee inches closer to Chapter 7 liquidation

telexfree-logoYesterday saw a hearing for TelexFree Trustee Stephen Darr’s request for permission to subpoena several companies associated with TelexFree. Darr had also requested permission to conduct depositions with individuals from said companies, with the court granting him permission to proceed.

Five such motions were filed by Darr, with three of them granted as proposed. Alvares and Marsal (financial consultants to TelexFree) objected only to having to share emails between the firm and its legal counsel.

Darr agreed to this on condition that he reserves the right to request the emails, if needed, at a later date. A & M consented on condition they retain the right to appeal any such requests.

At the time of publication, no order has been made public regarding Darr’s request to subpoena TelexFree’s law firm Greenberg Traurig, however news reports suggest permission was granted on all five subpoena requests.

Speaking to the Worcester Telegram about why he had to file the requests, Darr remarked [Continue reading...]