MLM @ BehindMLM

After failing to respond to the FTC’s filed complaint, Digital Income System defendants Brandon Frye and Kaitlyn Scott have received default judgment orders. Frye is up for $600,000, Scott for $171,500.

A visit to UpMoney’s website reveals no specifics about the company’s business model. Instead, prospective affiliates are told they can ‘turn twenty Rands into groceries and R500, daily.’ How? By recruiting new UpMoney affiliates who pay R20, who recruit new affiliates who pay R20 etc., etc. Weaved into this are grocery products: Rendering UpMoney a [Continue reading…]

South African authorities have recovered approximately 1200 BTC, held in an account belonging to Mirror Trading International. The account was held with FXChoice, who MTI appear to have hoped to launder the stolen funds through.

As a result of ongoing securities fraud violations QubitLife, formerly QubitTech, has been added to Malaysia’s investor alert list. We’re a bit late on this one as Malaysia’s securities commission added QubitTech late last year.

QubitLife, formerly QubitTech, has received a securities fraud notice from the Securities Commission of the Bahamas. As per the the SCB’s 19th March notice;

Wiseling has received a securities fraud notice from the Securities Commission of the Bahamas. It should be noted what the Wiseling collapsed last month. The Ponzi scheme’s CEO, Matias Lappo, has been outed as an actor from St. Petersburg.

Karatbars International has received a securities fraud notice from the Securities Commission of the Bahamas.

Liyeplimal and CHY Mall have come under fire by the Le Conseil Régional de l’Epargne Publique et des Marchés Financiers (CREPMF). According to CREPMF, Liyeplimal and CHY Mall are “unauthorized actors … collecting irregular funds from the public” in the region.

About a month ago this was the status of VPL Medical’s mask sales: As of February 24, 2021, no new sales contracts have been executed. As per a joint status report filed on March 26th, here’s the latest: As of March 24, 2021, no sales contracts have been executed. Oh my.

CHY Mall has received a pyramid scheme warning from Rwanda’s Ministry of Trade and Industry (MINICOM). According to MINICOM, Century Heng Yue (dba CHY MALL) was initially registered ‘to do e-commerce business’ in Rwanda. Following a joint investigation however, Rwandan authorities have concluded CHY Mall has “diverted to (a) pyramid scheme”.