Nui @ BehindMLM

TranzactCard operates in the banking and cashback MLM niches. On its website, TranzactCard identifies its Founder and Chairman as Richard Smith. On the corporate side of things; TranzactCard LLC is a wholly owned subsidiary of TZT Holdings LLC. TZT Holdings owns the brand “TranzactCard” and the TranzactCard Financial Ecosystem. On LinkedIn Smith cites himself as [Continue reading…]

Serial scammer Darren Olayan’s latest grift is a Ponzi scheme run through Disruptive Studio.

Crypto CNL has collapsed. The scammers behind Crypto CNL have wasted no time rebooting the Ponzi scheme as Homes CNL. In doing so, they’ve also inadvertently exposed a Russian MLM Ponzi factory.

Yesterday longtime BehindMLM reader GlimDropper shared a Nui update with us. Through Nui International, Darren Olayan was offering 12 month crypto investment contracts. Following a $595,000 securities fraud fine from Utah in late 2020, Olayan had been laying low. Having abandoned his social media in December 2017 as multiple regulators launched investigations into Nui, Olayan [Continue reading…]

The FTC has issued at least 379 MLM companies with deceptive and/or unfair conduct notices. This was announced by the FTC on October 26th. If it slipped under your radar, you’re not alone. I learned of the FTC’s announcement via a tip sent in by a reader. At first I thought there was some funny [Continue reading…]

Following non-payment of withdrawals and an effective collapse, PGI Global has made an announcement suggesting they’ll be exit-scamming through Kala. That’s the same Kala shitcoin Nui launched three years ago.

The state of Michigan has issued Darren Olayan a securities fraud cease and desist pertaining to Mintage Mining. Michigan’s notice was issued on April 8th, however I only came across it today as part of my research into Olayan’s $595,000 Utah fine. As per Michigan’s cease and desist;

The Utah Division of Securities has fined Divvee Social and Darren Olayan $595,000 as part of a securities fraud settlement.

In an attempt to distance itself… from itself, Darren Olayan has resigned from Nui’s parent shell company Appliqate. Nui’s company history is intentionally convoluted. At present the only thing going for Nui is Nui International.

In a recent official R Network marketing video, a “common stock ownership” scheme was pitched to prospective affiliates. Neither R Network or their executives are registered with the SEC, meaning the offer constitutes securities fraud.