Unetenet initially launched in 2013 and combined pyramid recruitment with “franchise” Ponzi ROIs. In late 2014 Unetenet advised affiliates of payment difficulties, citing regulatory issues in Latvia. Over the next nine months the scheme attempted to reboot itself as a cryptocurrency opportunity. Unetenet affiliates invested in Unetes, with one Unete purportedly equal to $1. In [Continue reading…]
Unetenet @ BehindMLM
Following a failed attempt at attaching a cryptocurrency to the Untenet Ponzi scheme, 6000 Spanish investors filed a class-action lawsuit against the company and its owners. In their complaint, investors alleged that Unetenet had duped some 20,000 affiliates out of €50 million Euros. At the time Spanish regulators had not publicly made a move on the scheme, despite [Continue reading…]
BehindMLM first reviewed Unetenet back in 2013, identifying it as a Ponzi investment scheme. Back then “franchises” were the ruse, with Unetenet affiliates investing between $360 and $9000 on the promise of advertised weekly ROIs. At some point a cryptocurrency was attached to the scheme, referred to as the “Unete”. Unete, a digital currency that [Continue reading…]
Over the last few weeks I’ve received scattered reports from Unetenet affiliates complaining about payment delays from the company. That an opportunity which promises annual ROIs of over 350% is having payment issues is hardly surprising. With a recent affiliate email sent out attempting to clarify ongoing affiliate concerns.
There is no information on the Unetenet website indicating who owns or runs the business. At the time of publication, visitors to the Unetenet website are only able to either submit their email address or login as a company affiliate. The Unetenet website domain was registered on the 12th of March 2009 and lists “Union [Continue reading…]