A Grand Jury has indicted Profit Connect founder Brent Carson Kovar.

Kovar, a Nevada resident, was indicted on February 12th and arrested on February 13th. [Continue reading…]

Romanian authorities have raided the offices of CryptoData, a crypto development firm co-founded by Ovidiu Toma and Bogdan Mărunțiș.

Toma is a serial fraudster tied to multiple MLM crypto Ponzi schemes. [Continue reading…]

Juan Caminero, aka John Caminero, has settled Profit Connect fraud with the Profit Connect Receiver.

As per a January 22nd filed proposed settlement, Caminero will pay back $10,500. [Continue reading…]

Generation Zoe founder Leonardo Cositorto has been sentenced to 12 years in prison.

A Goya court handed down Cositorto’s sentence earlier today, following a guilty verdict last Thursday. [Continue reading…]

City 2000 fails to provide ownership or executive information on its website.

City 2000’s website domain (“app.city2000.cc”), was registered with bogus details on August 12th, 2024.

Of note is City 2000’s website domain being registered through the Chinese registrar Alibaba (Singapore).

City 2000 has already attracted the attention of financial regulators. The Central Bank of Russia issued a City 2000 pyramid fraud warning on February 21st, 2025.

As always, if an 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…]

Niolic fails to provide verifiable ownership or executive information on its website.

Niolic presents its CEO as “John Lamb”:

Lamb doesn’t exist outside of Niolic’s own marketing. This is because Lamb is represented by an AI-generated avatar.

While the avatar might be based off an actual person, analysis of Niolic marketing videos featuring Lamb reveal janky movements and an AI robodub.

Other presented Niolic executives are also AI-generated avatars.

Another red flag is Niolic presenting a legal address in the Isle of Man. There’s no legitimate reason for an MLM company to have anything to do with the Isle of Man.

Niolic’s provided UK “office” address is a random skyscraper that doesn’t appear to have anything to do with the company.

Niolic’s website domain (“niolic.com”), was privately registered on July 11th, 2024.

As always, if an 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…]

Douver Torres Braga, 48, has been indicted on Trade Coin Club related criminal charges.

Braga owned Trade Coin Club but hid ownership by posing as its Master Distributor. [Continue reading…]

Trent Staggs is and has been the mayor of Riverton, Utah since 2018.

In what is potentially an abuse of office with respect to conflicts arising from verifiable securities fraud, Staggs is also a member of T7X’s Board of Directors.

In his capacity as Mayor of Riverton, Staggs appeared on a Trusted Smart Chain marketing webinar on January 28th.

In this exclusive interview, Travis Flaherty sits down with Mayor Trent Staggs, former Trump-endorsed U.S. candidate, to dive deep into the political landscape of the blockchain industry.

Trent shares his insights on the future of tokenizing real-world assets (RWAs), and why he chose to take a key position on the board of T7x.

Ah shit, here we go again… [Continue reading…]

USD Cannondale fails to provide ownership or executive information on its website.

USD Cannondale operates from two known website domains:

1. usdcannondale.xyz –  registered with bogus details on February 13th, 2025
2. app.mscusd.cc – registered with bogus details on December 26th, 2024

USD Cannondale has already attracted the attention of financial regulators. The Central Bank of Russia issued a USD Cannondale pyramid fraud warning on February 21st, 2025.

Of note is USD Cannondale’s .CC website domain being registered through the Chinese registrar Alibaba (Singapore).

As always, if an 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…]

Future Multiverse fails to provide ownership or executive information on its website.

Future Multiverse’s website domain (“futuremultiverse.com”), was privately registered on December 31st, 2023.

While most of the links of Future Multiverse’s website are non-functional, we did find one working link to a “guidebook” hosted on GitHub.

Here we are provided a list of the people behind Future Multiverse:

• Founder and Executive Chairman – Simon Voelk (aka Simon Volk)
• Co-founder and COO – Stefanie Xu
• Representative Chairman – Farzam Kamalabadi
• Chief Compliance Officer – Jeff Smith
• Chief Sales Officer and Advisory – Helmut Oehrl
• Chief Communications Officer – Stefan Breitzke

Simon Volk appears to be from Germany but, as per his LinkedIn profile, resides in Singapore.

No idea what Life Solutions was but FutureX is a collapsed crypto Ponzi built around FXTE token.

Of note is Future Multiverse’s Stephanie Xu also working with Volk on FutureX:

The only other name worth noting on Future Multivere’s executive list in Farzam Kamalabadi.

Kamalabadi popped up on BehindMLM’s radar through his involvement in Sam lee’ StableDAO Ponzi scheme.

As per the above marketing slide, Kamalabadi was a StableDAO non-executive Chairman. Kamalabadi also made regular appearances in StableDAO marketing videos:

StableDAO was a continuation of the MLM crypto fraud Lee started with HyperTech Group and HyperCapital. The largest HyperTech Ponzi was HyperFund, which collapsed in December 2021.

Kamalabadi’s involvement in StableDAO was tied to his part-ownership of the HOO crypto exchange, through which HyperTech investor funds are believed to have been laundered.

HOO disabled investor withdrawals in June 2022, roughly six months after HyperFund collapsed. Another six months later HOO collapsed.

HyperTech investor funds stolen through HOO remain unaccounted for.

Sam Lee was indicted and charged by the SEC in January 2024. At time of publication Lee remains a wanted fugitive hiding in Dubai.

Kamalabadi’s involvement in Future Multiverse appears to be through his company Future Trends Group.

We are connected to the Future Trends Group, led by Dr. Farzam Kamalabadi, through which a global network with around 400 million contacts is directly and indirectly connected to the Future Multiverse.

Kamalabadi’s LinkedIn profile places him in California. Kamlabadi’s Twitter profile lists his location as Beijing, China.

On its GitHub guidebook, Future Multiverse claims it’s run through “a Dubai-based corporate ecosystem”.

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to Future Multiverse, read on for a full review. [Continue reading…]