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…]

GTM fails to provide ownership or executive information on its website.

GTM’s website domain (“imjys.com”), was privately registered on December 29th, 2022.

If we look at the source-code of GTM’s website we find Chinese:

This strongly suggests whoever is running GTM 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…]

Bulleto fails to provide ownership or executive information on its website.

Bulleto’s website domain (“bulleto.io”), was first registered in December 2020. The private registration was last updated on July 20th, 2023.

Based on the first video uploaded to its official YouTube channel, Bulleto appears to have initially launched on or around February 2023.

Bulleto’s marketing gives us several names we can attach to the opportunity:

Shivesh Kumar

Mahesh Sharma

Zee Senior (alias?)

Omar Khan

Sahil Raj Prajapati

Kumar Balwant

The majority of people tied to Bulleto seem to be from India. Bulleto is also targeting Bangladesh.

It should be noted that Bulleto’s FaceBook page is managed from the UAE:

This suggests even though it’s run by Indians, that Bulleto’s admins are hiding in Dubai.

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to Bulleto, read on for a full review. [Continue reading…]

AirBit Club co-founder Pablo Renato Rodriguez, 40, has been sentenced to 12 years in prison.

On the money side of things, forfeiture was set at $65 million as per a previously consented to order back in March. [Continue reading…]

Jump Tradiny [sic] fails to provide ownership or executive information on their website.

Jump Tradiny’s website domain (“jumptd.com”), was privately registered on July 17th, 2023.

In an attempt to appear legitimate, Jump Tradiny provides New York shell company and FINCEN certificates.

Jump Tradiny represents it registered the shell company Jump Tradiny LLC in New York on June 2nd, 2023.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence the New York certificate is meaningless.

FINCEN isn’t a financial regulator. Registering a shell company with FINCEN is thus also meaningless.

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…]

AI Lance fails to provide ownership or executive information on its website.

AI Lance’s website domain (“ailance.app”), was privately registered on May 8th, 2023.

In an attempt to appear legitimate, AI Lance provides Singapore shell company details for “AI Crypto Quant Strategies PTE. LTD.”

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence shell company registration in any jurisdiction is meaningless.

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 CFTC has secured default judgment against SAEG Capital General Management and Fredirick Safranko.

Following Entry of Defaults recorded against both SAEG and Safranko, default judgment was ordered on September 5th. [Continue reading…]

Kirill Medvedev has filed suit against Binance for allegedly freezing funds tied to the Nimbus Platform Ponzi scheme. [Continue reading…]

777.IN fails to provide ownership or executive information on its website.

777.IN’s website domain (“777.in”), was registered with bogus details back in 2005. The domain registration was last updated on April 12th, 2023.

777.IN’s current website went live sometime in late April. This suggests the current owners took possession of the domain on or around April 12th.

Of note is the previous website on the “777.in” domain was localized to Chinese.

This suggests Chinese admins are running 777.IN.

SimilarWeb tracked ~1.4 million visits to 777.IN’s website in August 2023. The majority of these visits came from Sri Lanka (53%), Botswana (12%), Singapore (6%), Italy (6%) and Bangladesh (5%).

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…]

Alterion fails to provide ownership or executive information on its website.

Alterion’s website domain (“alterion.ltd”), was privately registered on July 20th, 2023.

In an attempt to appear legitimate, Alterion provides shell company registration details for “Alterion LTD”.

Alterion LTD was incorporated in the UK back in 2000. Given Alterion the MLM company has only existed for a few months, whoever is running Alterion appears to have misappropriated Alterion LTD’s details.

It should also be noted that whoever is behind Alterion is also behind other fraudulent investment schemes:

In total Google returns four results for the Alterion website script template:

1. DailyProfite (“dailyprofite.club”) – Ponzi scheme pitching a 200% ROI
2. Growex (“growex.top”) – Ponzi scheme pitching 1% a day
3. Alterion clone (“alterion.site”) – Ponzi scheme pitching 1% a day
4. Tencent Equity (“tencentequity.com”) – Ponzi scheme running older version of the script (same copy)

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…]