MLM @ BehindMLM

Despite initially consenting to detention, Payza co-founder Ferhan Patel wants out. In a Motion to Revoke Detention Order filed on April 19th, Patel has asked the court to either outright release him, or in the alternative allow him to stay with his brother-in-law in New York.

Following the granting of an appeal in favor of the Zeek Rewards Receiver, VictoriaBank has filed a rehearing petition.

Pedro Fort has seemingly been caught out in a web of lies, leading to his attorney withdrawing from the case for a second time. In a brief April 9th filing, Fort requested a “lawyer of the state” be appointed. Fort made the request because his “lawyer has abandoned the case”. He also claims to not [Continue reading…]

The FTC’s lawsuit against Digital Altitude continues, with the latest seeing default judgment sought against the company and related entity defendants.

Following a cease and desist issued last month, Power Mining Pool’s website was quickly pulled offline. Power Mining Pool’s admins strung investors along while they quietly executed their exit strategy, after which communication lines went silent. Now North Carolina has confirmed Power Mining Pool failed to respond to the cease and desist notice, confirming the [Continue reading…]

About a week ago we covered a co-founder conflict leading to Chris Record selling his stake in Tecademics. Tecademics itself is no more and has been amalgamated into IQup. One loose end that neither Tecademics co-founders Chris Record and Jim Piccolo or IQup seem keen to tie up however, is a missing $20,000 prize awarded [Continue reading…]

Enforcement of Herbalife’s settlement with the FTC is certainly one of the more bizarre episodes of MLM regulation I’ve seen. As part of the settlement, Herbalife agreed to “restructure” their business. And a big part of the restructuring was only paying commissions on actual retail sales going forward. Considering retail sales volume was negligible to the [Continue reading…]

MinerWorld, an MLM cryptocurrency touting 12 month mining ROIs, is under investigation in Brazil. Yesterday Brazilian Federal Police and the Public Ministry announced they were investigating MinerWorld, on suspicion the company is a pyramid scheme.

DBTC was a short-lived ICO primarily targeted at Chinese investors. Zhang and Li Mou conceived DBTC last October, but didn’t actually launch an ICO until March 28th this year. And what an ICO it was. Clearly targeting gullible idiots with too much money, top DBTC ICO investors paid $478,000 each on the promise of a daily [Continue reading…]

With seemingly little to no local regulation of fraudulent activity, Dubai has emerged as a favorite for MLM underbelly admins. Following the arrest of Danilo Santana at the behest of Brazilian authorities however, I believe we’re about to see our first Dubai MLM related extradition.