BBOM @ BehindMLM

Judicial investigation confirms BBOM is a Ponzi scheme (Brazil)

In 2013 BBOM found itself the subject of multiple Brazilian regulatory investigations. In July 2013 a Judge froze BBOM’s assets after prosecutors convinced a Judge it was a Ponzi scheme. In November the asset-freeze was lifted so that BBOM could pay commissions unrelated to its Ponzi activities. With no retail sales to speak of, this [Continue reading…]

BBOM’s vibecoin agreement with Uphold suspended

The latest reincarnation of the failed BBOM Ponzi scheme saw them want a piece of the burgeoning MLM cryptocurrency niche. Previously BBOM combined Ponzi ROIs with fictitious GPS tracker rentals. When the collapsed the scheme rebooted as InterBBOM, replacing GPS trackers with mobile apps. That didn’t go anywhere and so the third attempt at BBOM [Continue reading…]

BBOM owner and leaders reported for crimes

Despite having it’s assets frozen well over a year ago and late last year Brazil’s Ministry of Finance concluding BBOM is a Ponzi scheme, the owner and top investors of the scheme remained at large. Now, some fourteen months after the scheme had its assets frozen, regulators in Brazil have finally “reported” five individuals. The [Continue reading…]

InterBBOM Review: BBOM Ponzi scheme’s obvious reboot

BBOM, the trading name of “Embrasystem Technology Systems” was a Ponzi scheme shut down by Brazilian authorities in July 2013. Owned by João Francisco de Paulo, who also served as company President, BBOM accepted $300 to $1500 investments from affiliates on the promise of $80 to $400 monthly ROIs (dependent on how much was invested). Additionally, the [Continue reading…]

Ministry of Finance concludes BBOM is a Ponzi

In papers filed in support of ongoing legal action by the Federal Public Ministry in Goiás (GO-MPF), Brazil’s Ministry of Finance have declared BBOM to be an “unsustainable” Ponzi scheme. In the papers, ‘presented to the Judge of the 4th District Court of the Judicial Section of the State of Goiás on Thursday (21/11)’, the Secretariat for [Continue reading…]

Ministry of Finance BBOM investigation suspended

Just days after Judge Reynaldo Fonseca openly declared in court that BBOM was indeed a pyramid scheme, another Brazilian Judge has prohibited the Ministry of Finance from further investigating the company. Why? Jurismydiction.

Judge unblocks “non-pyramid” BBOM commissions

Following the filing of two appeals seeking to lift court-ordered suspensions of BBOM’s business practices in Brazil, a decision was made on Monday that lifts some of the sanctions imposed against BBOM. Under BBOM’s business model and compensation plan, the company accepted $300 to $1500 deposits from affiliates and promised to pay out $80 to [Continue reading…]

TelexFree bankruptcy denied, BBOM fraud thwarted

Brazilian regulators are currently on fire in their handling of both the TelexFree and BBOM Ponzi scheme fraud cases. Setting an example that India and other countries drowning in Ponzi and pyramid scheme fraud would do well to follow, Monday firstly saw TelexFree denied their bankruptcy protection application and then on Tuesday, the uncovering of a fresh [Continue reading…]

Financial links between BBOM & TelexFree uncovered

Over the past few years two schemes have risen to the top of the Ponzi scheme cesspool currently ravaging the Brazilian MLM industry. TelexFree hid behind the supposed sale of VOIP software whereas BBOM pretended they were selling GPS tracker units. Both companies claim to sell products to retail customers that simply don’t exist. TelexFree [Continue reading…]

TelexFree injunction denied, BBOM denies Ponzi

As was reported on Wednesday July 10th, TelexFree latest attempt to circumvent a business crippling injunction handed down against them in June was to file an injunction appeal of their own. Upon filing their injunction, which marks the third attempt by TelexFree to lift the Acre injunction against the business, the company advised that they [Continue reading…]