The fallout from the SEC shutdown of Traffic Monsoon continues, with news that My Advertising Pays affiliates have not been paid for a week.
MyAdvertisingPays @ BehindMLM
Following up on a threat made to the TaraTalks blog earlier this year, the Ponzi scheme My Advertising Pays filed a lawsuit against the blog on April 6th. My Advertising Pays’ lawsuit lists the company and owner Michael Deese as plaintiffs and was filed in a District Court of Illinois. As they stated they would back [Continue reading…]
My Advertising Pays is in trouble. The scheme just ticked over the average two-year collapse mark, and recruitment of new investors has all but bottomed out: For a Ponzi scheme that requires a constant stream of new investment to pay existing investors out with, this is a disaster. In an attempt to distract their investors [Continue reading…]
Following a decision last week to can US business operations, American MyAdvertisingPays affiliates are threatening legal action over slashed ROI payouts.
The MyAdvertisingPays website domain was registered in June 2013, with the scheme launching a few months later. As we approach the end of 2015, that brings us to the typical two-year lifecycle of online Ponzi schemes, after which time liabilities racked up truly spiral out of control. Typically what we see with such schemes at [Continue reading…]
For decades the hotel pitch was the acquisition method of choice for Ponzi fraudsters. And although largely eclipsed by online webinars, Facebook groups and Google Hangouts, today the hotel pitch is still a staple for many MLM businesses. One of them, MyAdvertisingPays, attemped to organize a series of events earlier this month, only to have the hotels [Continue reading…]
Simon Stepsys, who titles himself “the internet millionaire”, is one of the more prolific promoters of MyAdvertisingPays. For those unfamiliar with the scheme, MyAdvertisingPays is your typical ad-credits based Ponzi scheme. Affiliates buy in for $49.99 a pop, with ROIs paid out of subsequently invested funds. Stepsys’ personal website contains articles such as “The Importance [Continue reading…]
MyAdvertisingPays (commonly abbreviated as “MAP”), launched in late 2013. The company was originally advertised as being based out of the US, but within a month of launch appears to have “relocated” to Anguilla. A Google search on the provided corporate address reveals multiple businesses using the same address. This is typical of virtual office space. [Continue reading…]