Nui @ BehindMLM

FinMore collapses, Nelo Life “complete distraction” blamed

What’s left of the Richard Smith’s Tranzact Card to FinMore grift has collapsed. In an email sent out a few hours ago, frontman Peter Rancie “announc[ed] the complete and immediate shutdown of TranzactCard and FinMore”.

Bait & switched TranzactCard DBOs denied refunds

TranzactCard DBOs who were duped into paying $495 are being denied refunds. As part of TranzactCard rebooting as FinMore, DBOs were told they’d be entitled to refunds. This claim has been publicly parroted by promoters of the scheme. While TranzactCard DBO refunds are available in some instances, unfortunately there’s a major catch.

FinMore is literally a TranzactCard copy and paste

Despite denials by distributors, evidence suggests FinMore is literally a copy and paste reboot of TranzactCard.

TranzactCard collapses, rebooted as FinMore

Like every iteration before it, Richard Smith’s TranzactCard has collapsed. Following disabling of DBO recruitment and member referral yesterday, a “FinMore” reboot was announced on a TranzactCard corporate call. For the most part, FinMore appears to be a cosmetic rebranding with more fees.

TranzactCard suspends DBO recruitment

TranzactCard has suspended recruitment of new Digital Branch Owners. I believe this also affects referral of new “retail” card members.

32,000 TranzactCard accounts breached, user data for sale

TranzactCard has allegedly been breached. As per a January 28th post on BreachForums, a new user going by “Aleksey_Petrov” is selling 48,000 credit card numbers submitted to TranzactCard.

TranzactCard clarifies Bangor Bank is a “sponsor bank”

On Wednesday December 13th, TranzactCard announced Maine headquartered Bangor Bank as its “new banking partner”. On Friday December 15th, Bangor Bank confirmed they had no partnership with TranzactCard. On Saturday December 16th, TranzactCard held an unscheduled “all hands-on-deck TranzactCard field update.” During the call, new COO Ken Doherty confirmed Bangor Bank was not TranzactCard’s “banking [Continue reading…]

Bangor Bank denies partnership with TranzactCard

Maine headquartered Bangor Bank has denied having a partnership with TranzactCard. The denial comes just days after TranzactCard corporate revealed Bangor Bank as their new US partner bank.

Andre & Monique Vaughn sued for tax fraud

Back in 2018 then Wakaya Perfection leader Andre Vaughn and wife Monique were indicted on bankruptcy fraud charges. Unknown to BehindMLM is another federal lawsuit filed in 2021, this time alleging tax fraud.

TranzactCard’s Z-Club reselling Walmart products?

A directory on TranzactCard’s website suggests its Z-Store is stocked with Walmart products. As opposed to an actual ecommerce competitor (Amazon, eBay etc.), this would make TranzactCard nothing more than a Walmart affiliate.