Model Farming Review: Agricultural themed Ponzi scheme

Model Farming provides no information on its website about who owns or runs the company.

Model Farming’s website domains (“modelfarming.com” and “modelfarming.life”), were privately registered on November 8th, 2020.

In an attempt to appear legitimate, Model Farming provides a UK incorporation certificate for “Model Farming Limited”.

An MLM company operating or claiming to operate out of the UK is a red flag.

UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.

As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.

For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.

On Facebook Model Farming represents it has incorporated a shell company in Kentucky:

As with the UK shell incorporation, with respect to MLM due-diligence basic incorporation in the US is meaningless.

At the time of publication Alexa ranks the US as the top source of traffic to Model Farming’s .COM website (99.5%).

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…]


Bastion Invest Review: 5% a day low-effort Russian Ponzi

Bastion Invest provides no credible information on their website about who owns or runs the company.

On the “our staff” section of Bastion Invest’s website, random executive names are provided.

“William Hardy” appears to be running the show as Bastion Invest’s “administrator”.

On the same page is an office photo, featuring poorly photoshopped placement of Bastion Invest’s logo.

The original office belongs to Fiera Trading, a company based out of Kazan, Russia.

In an attempt to appear legitimate, Bastion Invest provides UK incorporation details for Bastion Invest Limited.

An MLM company operating or claiming to operate out of the UK is a red flag.

UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.

As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.

For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.

Probably because it represents it made-up executives from Sweden, Bastion Invest also provides a Swedish corporate address.

This address belongs an unrelated cloud networking company.

As opposed to the UK or Sweden, the use of a Russian office photo suggests Bastion Invest’s admin is based out of Russia.

Bastion Invest’s website domain (“bastion-invest.com”) was privately registered on July 12th, 2021.

Alexa currently ranks top sources of traffic to Bastion Invest’s website as Russia (49%) and Vietnam (8%).

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…]


ZetBull Review: 6500% ROI Boris CEO Ponzi scheme

ZetBull provides no information on its website about who owns or runs the company.

ZetBull’s website domain (“zetbull.com”) was privately registered way back in May 2019.

The original version of ZetBull’s website was quite primitive:

The current version went live on or around March 2021.

In an attempt to appear legitimate, ZetBull provides UK incorporation details for ZetBull Limited.

An MLM company operating or claiming to operate out of the UK is a red flag.

UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.

As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.

For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.

Finally ZetBull provides a marketing video on their website. The video was uploaded on June 19th and is the usual rented office production.

“Jack Pierce” is presented as a ZetBull senior manager. In the marketing video the actor playing Pierce has his likely Russian accent dubbed over.

I wasn’t able to ascertain the Pierce actor’s name. At [~0:40] into the video however another dubbed over actor appears:

“Sophie Cooper is played by Ekaterina Yakovleva, an actor from Moscow, Russia.

It follows that whoever put ZetBull together is thus also based out of Moscow, Russia.

Alexa currently ranks top sources of traffic to ZetBull’s website as Egypt (21%), Saudi Arabia (14%) and Russia (11%).

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…]


Mag Markets Review: 4XC securities fraud clone scheme

Mag Markets provides no information on their website about who owns or runs the company.

Mag Markets’ website domain (“magmarkets.com”) was privately registered in December 2020.

Mag Markets’ domain was registered through a German registrar. The company’s website also has native German language elements:

In an attempt to appear legitimate, Mag Markets claims its “regulated by the FSC”.

The company follows the regulated laws highlighted by the Financial Supervisory Commission (FSC).

MAGMarkets is operating under the legal umbrella of Geomatrix Ltd, which is audited by BDO and under the €20000 Financial Commission’s Compensation Fund.

Geomatrix Ltd is a shell company incorporated in the Cook Islands. Mag Markets appears to have obtained a financial license in the Cook Islands through Geomatrix.

For the purpose of MLM due-diligence, this is meaningless. Mag Markets has no business operations in the Cook Islands.

The Cook Islands is one of those tiny South Pacific nations scammers love to incorporate in, primarily because there’s little to no active MLM regulation.

MLM companies incorporating shell companies to launder money through is a due-diligence red flag.

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…]



Solar Group Review: Another “Russian inventor” Ponzi scheme

Solar Group is an investment themed MLM company based out of Russia.

Solar Group also goes by “Duyunov’s Motors”, referencing its founder Dmitry Duyunov.

As far as I can tell Duyunov doesn’t have a digital footprint prior to Solar Group surfacing in 2019. He appears to be a random Russian citizen leading the company.

Whether that’s just on paper (puppet owner) or in actuality is unclear.

In an attempt to appear legitimate, Solar Group claims to be incorporated in Vanuatu as Solar Group LTD.

The bar to register a shell company in Vanuatu is low. There is also no active regulation of MLM related fraud.

Unless it is actually operating out the country, any MLM company representing it is incorporated in Vanuatu raises a red flag.

A “front office” address in Moscow is provided on Solar Group’s website. Punching the address into Google suggests it belongs to a hotel.

Solar Group operates from the domains “solar.group” and “solargroup.pro”. These are the domains known to me, there are probably others.

Alexa traffic estimates reveal the majority of visitors to Solar Group’s website are from Russia and Vietnam.

Read on for a full review of Solar Group’s MLM opportunity. [Continue reading…]


Crowd1 restricts withdrawals through “Bonus Security System”

A Ponzi scheme is a zero-sum equation. That is, minor revenue generation aside, it cannot pay out more than is invested.

Once you factor in how much the owner wants to keep and other expenses, what’s left to pay out is reduced even further.

Crowd1’s latest solution to this problem is the Bonus Security System. [Continue reading…]


Futurion Finance Ponzi collapses, website offline

Futurion Finance has collapsed.

The Ponzi scheme’s website is down as of a few days ago. Futurion Finance’s social media channels have also been pulled. [Continue reading…]



CryptoSpot Review: 10% a day USD/crypto Ponzi scheme

CryptoSpot provides no verifiable information on its website about who owns or runs the company.

A marketing paragraph identifies “Daniel Hunt” as the owner of the company. This might as well be any name (and probably is), as no further information is provided.

CryptoSpot’s website domain (“cryptospot.biz”) was privately registered on January 16th, 2021.

Although its website domain was registered earlier this year, CryptoSpot’s socials went live in mid August. This coincides with the launch of the company.

At the time of publication Alexa ranks the top sources of traffic to CryptoSpot’s website as Russia (13%), Egypt (10%) and Venezuela (9%).

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…]


HyperFund under regulatory investigation in India

Local media are reporting HyperFund is under regulatory investigation in India. [Continue reading…]


Artery Network Review: ARTR token Ponzi scheme

Artery Network provides no information on its website about who owns or runs the company.

Artery Network’s website domain (“artery.network”) was privately registered on July 7th, 2020.

A visit to Artery Network’s website reveals Russian is the default language.

Further research reveals this guy hosting Artery Network promotional events on the company’s official YouTube channel:

I was able to identify this individual as Mark Bogatyrenko, Artery Network’s founder, CEO and President.

According to his vKontakte profile, Bogatyrenko is based out of Moscow, Russia.

Possibly due to language-barriers, I was unable to put together an MLM history on Bogatyrenko.

To date Artery Network has held promotional events in Sochi, Russia (December 2020), Dubai (April 2021) and Las Vegas, Nevada (July 2021).

The events are in Russia and appear to predominately feature eastern Europeans attendees.

Artery Network’s primary website domain has experienced a dramatic slump in traffic over the past few months.

The company has a second website domain up at “artr-network.io”, registered September 3rd, 2021.

According to Alexa, 68% of traffic to Artery Network’s .io domain is from Russia.

On both its websites Artery Network provides a corporate address for Artery Network Corporation in Seychelles.

This appears to be a shell company as Artery Network has no actual ties to Seychelles.

Read on for a full review of Artery Network’s MLM opportunity. [Continue reading…]