Eight EXW Wallet suspects have been indicted in Austria.

Two have been arrested and remain in custody pending the outcome of a criminal trial. Said trial kicked off on September 27th. [Continue reading…]

OBC AI fails to provide ownership or executive information on its website.

OBC AI’s website domain (“obcai.com”), was first registered in 2001. The private registration was last updated on May 11, 2023.

Through the wayback machine we can see OBC AI’s website domain was listed for sale as late as March 2023.

This correlates with OBC AI’s owners purchasing the domain on around May 2023, with the company launching shortly thereafter.

Despite only existing for a few months, OBC AI falsely claims it “has been operating for 3 year” [sic].

In an attempt to appear legitimate, OBC AI provides Colorado shell company and FINCEN certificates.

OBC AI represents it registered the shell company OBCAI LLC in New York on May 11th, 2023.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence the Colorado certificate is meaningless.

FINCEN isn’t a financial regulator. Registering a shell company with FINCEN is thus also meaningless.

That OBC AI’s website domain was for sale in Chinese strongly suggests whoever is running it has ties to China.

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…]

Jeremie Sowerby has been arrested on fraud charges related to multiple MLM crypto Ponzi schemes.

Sowerby and co-conspirator Luis Ortega were indicted under seal on September 19th.

The indictment details charges related to Now Mining, VIP Mining and Millennium Technologies. [Continue reading…]

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

LeftCoins is purportedly headed up by CEO “Arnold Mitchell”.

Mitchell of course doesn’t exist outside of LeftCoins’ marketing material. That’s because Arnold Mitchell is played by Yukhimenko Grigory (Юхименко Михаил).

Grigory is an English teacher based out of Ukraine. To hide his accent, LeftCoins dubbed Grigory over in the marketing video he features in.

Boris CEO MLM companies are typically the work of Russian scammers. Whether Grigory was hired by Russian or Ukrainian scammers is unclear.

In an attempt to appear legitimate, LeftCoins provides a ASIC registration details for the shell company “LeftCoins Digital Algorithms PTY LTD.

ASIC are known for non-regulation of MLM fraud. Furthermore anyone can register a company with ASIC using whatever bogus details, there is no verification.

For this reason ASIC registration is favored by scammers residing outside of Australia.

With respect to MLM due-diligence, ASIC registration certificate as proof of legitimacy is therefore meaningless.

Finally we note that LeftCoins’ website domain (“leftcoins.com”), was privately registered on November 29th, 2022.

Despite existing for less than a year, on its website LeftCoins falsely claims it “appeared in 2020”.

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…]

Tecademics co-founder Jim Piccolo (aka James Philip Piccolo), has been sentenced to 18 months in prison.

Piccolo was charged with tax fraud in January 2023. As alleged by the DOJ; [Continue reading…]

CDC (aka Cryptocurrency Data Cloud), fails to provide ownership or executive information on its website.

CDC’s website domain (“cdccoin.com”), was privately registered on July 1st, 2023.

If we look at CDC’s website source-code we find Chinese:

This strongly suggests whoever is running CDC has ties to China.

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…]

The SEC has sued two additional promoters of the Mike G Deal (aka CoinDeal).

Arline Woodbury (70) and Joyce Holverson (76), stand accused of “making and/or disseminating various false statements about CoinDeal when soliciting prospective investors.” [Continue reading…]

Secrets of Success operates in the marketing tools MLM niche.

The company is headed up by Russell Brunson, who is based out of the US.

BehindMLM came across Brunson in 2017, as founder and CEO of Click Funnels.

Due to the lack of differentiation between retail customers and affiliates, as per FTC guidelines, Click Funnels operates as a pyramid scheme.

MLM companies Brunson has promoted include Pure Leverage (gifting scheme) and Rippln.

Read on for a full review of Secrets of Success’ MLM opportunity. [Continue reading…]

Following a bench trial held last October, the Northern District Court of Texas began deliberation on FTC v. Neora.

On September 28th the court handed down its findings, ruling in favor of Neora. [Continue reading…]

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

Cryptoption is purportedly headed up by CEO Divnendu Tiwari:

Tiwari doesn’t exist outside of Cryptoption’s website. This is a red flag and suggests either an alias is being used and/or a stolen social media photo.

Cryptoption’s website domain (“cryptoption.org”), was privately registered on July 27th, 2023.

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…]