Jeremie Sowerby has been arrested on fraud charges related to multiple MLM crypto Ponzi schemes.

Sowerby and co-conspirator Luis Ortega were indicted under seal on September 19th.

The indictment details charges related to Now Mining, VIP Mining and Millennium Technologies. [Continue reading…]

LeftCoins fails to provide verifiable ownership or executive information on its website.

LeftCoins is purportedly headed up by CEO “Arnold Mitchell”.

Mitchell of course doesn’t exist outside of LeftCoins’ marketing material. That’s because Arnold Mitchell is played by Yukhimenko Grigory (Юхименко Михаил).

Grigory is an English teacher based out of Ukraine. To hide his accent, LeftCoins dubbed Grigory over in the marketing video he features in.

Boris CEO MLM companies are typically the work of Russian scammers. Whether Grigory was hired by Russian or Ukrainian scammers is unclear.

In an attempt to appear legitimate, LeftCoins provides a ASIC registration details for the shell company “LeftCoins Digital Algorithms PTY LTD.

ASIC are known for non-regulation of MLM fraud. Furthermore anyone can register a company with ASIC using whatever bogus details, there is no verification.

For this reason ASIC registration is favored by scammers residing outside of Australia.

With respect to MLM due-diligence, ASIC registration certificate as proof of legitimacy is therefore meaningless.

Finally we note that LeftCoins’ website domain (“leftcoins.com”), was privately registered on November 29th, 2022.

Despite existing for less than a year, on its website LeftCoins falsely claims it “appeared in 2020”.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Tecademics co-founder Jim Piccolo (aka James Philip Piccolo), has been sentenced to 18 months in prison.

Piccolo was charged with tax fraud in January 2023. As alleged by the DOJ; [Continue reading…]

CDC (aka Cryptocurrency Data Cloud), fails to provide ownership or executive information on its website.

CDC’s website domain (“cdccoin.com”), was privately registered on July 1st, 2023.

If we look at CDC’s website source-code we find Chinese:

This strongly suggests whoever is running CDC has ties to China.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

The SEC has sued two additional promoters of the Mike G Deal (aka CoinDeal).

Arline Woodbury (70) and Joyce Holverson (76), stand accused of “making and/or disseminating various false statements about CoinDeal when soliciting prospective investors.” [Continue reading…]

Secrets of Success operates in the marketing tools MLM niche.

The company is headed up by Russell Brunson, who is based out of the US.

BehindMLM came across Brunson in 2017, as founder and CEO of Click Funnels.

Due to the lack of differentiation between retail customers and affiliates, as per FTC guidelines, Click Funnels operates as a pyramid scheme.

MLM companies Brunson has promoted include Pure Leverage (gifting scheme) and Rippln.

Read on for a full review of Secrets of Success’ MLM opportunity. [Continue reading…]

Following a bench trial held last October, the Northern District Court of Texas began deliberation on FTC v. Neora.

On September 28th the court handed down its findings, ruling in favor of Neora. [Continue reading…]

Cryptoption fails to provide verifiable ownership or executive information on its website.

Cryptoption is purportedly headed up by CEO Divnendu Tiwari:

Tiwari doesn’t exist outside of Cryptoption’s website. This is a red flag and suggests either an alias is being used and/or a stolen social media photo.

Cryptoption’s website domain (“cryptoption.org”), was privately registered on July 27th, 2023.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

Speed Growth Assets fails to provide verifiable ownership or executive information on its website.

Instead, Speed Growth Assets provides up a list of people who likely don’t have anything to do with the company:

Following on from this, Speed Growth Assets claims to be “officially registered in Doha Qatar”.

Speed Growth Assets’ website domain (“speedgrowthasset.com”), was privately registered on July 14th, 2023.

Despite only existing for a few months, on its website Speed Growth Assets falsely claims it “launched in 26th August 2016”.

Speed Growth Assets also claims to already have 7.2 million investors and 45 million “users worldwide”. It has also purportedly already paid out $50.2 million.

I think it’s clear at this point that everything on Speed Growth Assets’ website is baloney.

As always, if an MLM company is not openly upfront about who is running or owns it, think long and hard about joining and/or handing over any money. [Continue reading…]

The Toga Limited Ponzi scheme has lost its sham SEC registration.

As part of efforts to dupe investors in Asia, Toga Limited heavily touted its SEC registration in its marketing. [Continue reading…]