companies @ BehindMLM

YEM Foundation is under investigation by Germany’s BaFin regulator. As part of BaFin’s ongoing regulation, a YEM Foundation securities fraud warning was issued on March 22nd, 2024.

Indian authorities have seized ₹4.3 billion in cryptocurrency, gold and cash ($51.9 million USD). As reported by The Hindu on April 1st, the assets are tied to BitConnect’s “Divyesh Darji and others”.

Rather than just be upfront about its fourth co-founder, Nelo Life has chosen to dance around Orkan Arat’s involvement. All Nelo Life promotional material thus far has failed to disclose Arat as a Nelo Life co-founder. In fact on a recent Nelo Life webinar, co-founder Eric Allen was downright childish about it. Allen acknowledged a [Continue reading…]

DC-BTC fails to provide ownership or executive information on its website. DC-BTC’s website domain (“dc-btc.cc”), was first registered in 2022. The private registration was last updated on January 24th, 2024. Starting with “Mavrodi’s mathematics”, DC-BTC presents itself as a reboot of the MMM Global Ponzi scheme. DC-BTC System – it’s an International Association of Bitcoin enthusiasts! [Continue reading…]

The latest chapter in the ongoing Qyral saga is the granting of a Temporary Restraining Order against Dariusz Banasik. Hanieh Sigari filed for an ex-parte TRO against her husband earlier in the week, after he ousted her from Qyral on March 22nd.

iX Global’s IN8 NFT grift, purportedly running on Debt Box’s technology, has collapsed. As per a March 27th message to investors on IN8’s website;

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.

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 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…]

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