companies @ BehindMLM

Coenraad Botha fined R216 million for CBI Global fraud

Coenraad Botha has been fined R216 million ($11.3 million USD) by South Africa’s Financial Sector Conduct Authority (FSCA). Botha, a licensed lawyer in South Africa, has also been disbarred for ten years.


Coinset collapses, GFST rebranding

The Coinset NFT Ponzi scheme has collapsed. As per communications sent out to investors, Coinset will officially be abandoned for GFST as a company name from April 1st.


FlipMe: Third Mavie Global Ponzi spinoff

FlipMe operates in the cryptocurrency MLM niche. The company website domain (“flip-me.com”), was first registered in 2016. The private registration was last updated on October 12th, 2023. Through the WayBack Machine we can see there was nothing on the domain as of September 2023. This indicates the domain was purchased on or around the October [Continue reading…]


MTI liquidators sue US top net-winners

Mirror Trading International’s South African liquidators have initiated clawback proceedings against top US net-winners.


TethEx collapses, blames “banking partners”

The TethEx Ponzi scheme has collapsed. As per a March 27th announcement post in TethEx’s official Telegram group, TethEx has “suspended” its “card program”.


Modere sues former top earners over Frequense recruitment

Modere has filed a federal lawsuit in Utah, accusing several former “high-ranking distributors” of poaching for Frequense.


Qyral “legal update” and… the affair.

After news of Qyral founder Hanieh Sigari’s lawsuit against husband Dariusz Banasik broke, Banasik, through the “Qyral Corporate” account, sent out a “legal update” email. The update provides insight into Sigari’s alleged fiduciary breaches, which Banasik accused her of on March 22nd.


Battle for Qyral: Hanieh Sigari sues husband Dariusz Banasik

Delivering on her communication to Qyral consultants a few days ago, founder Hanieh Sigari has sued husband Dariusz Banasik.


InvesableAI under investigation in Singapore

InvesableAI and the scammers behind it are under investigation in Singapore. As reported by the Straits Times on March 24th;


Qyral CEO Hanieh Sigari removed for “alleged fiduciary breaches”

An email sent out to Qyral consultants claims founder and CEO Hanieh Sigari has been “removed” for “alleged fiduciary breaches”. The email was sent out by Sigari’s husband, Darius Banasik.