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

AI-Coinbase has two known website domains:

1. ai-coinbase.cc – registered with bogus details on September 30th, 2024
2. ai-coinbase.com – registered with bogus details on September 29th, 2024

Both of AI-Coinbase’s website domains were registered through the Chinese registrar Alibaba (Singapore).

AI-Coinbase has already attracted the attention of financial regulators. The Central Bank of Russia issued an AI-Coinbase pyramid fraud warning on October 7th, 2024.

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…]

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

GPayBack’s website domain (“gpayback.io”), was privately registered on November 24th, 2023.

Further research reveals a GPayBack marketing video hosted on Simon Stepsys’ YouTube channel:

In the video, Andre Heber is introduced as GPayBack’s founder.

Andre Heber popped up on BehindMLM’s radar in 2016, as owner of the collapsed Infinity DailyWin Ponzi.

Through a convoluted voucher ruse, Infinity DailyWin pitched consumers on a 120% to 135% ROI.

In 2019 Heber resurfaced as CEO of SkyBanx.

SkyBanx was an MLM crypto Ponzi that targeted Spanish speakers. SkyBanx pitched consumers on a 400% ROI, paid out at 5% a day.

Returns were purportedly generated via a non-existent trading bot.

SkyBank ran its fraudulent investment scheme through BanxCoin. Today neither SkyBanx or BanxCoin exist.

In the GPayBack marketing video on Simon Stepsys’ channel, Heber states he “lives in the Caribbean.”

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…]

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

RainbowEx’s website domain (“rainbowex.life”), was was privately registered on July 2nd, 2024.

If we look at the source-code of RainbowEx’s website, we find it is localized to Chinese:

This suggests whoever is running RainbowEx 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…]

Bitz Bank fails to provide ownership or executive information on its website.

Bitz Bank’s website domain (“bitzbank.co”), was privately registered on July 29th, 2024.

Despite only existing for a few months, in its marketing material Bitz Bank falsely represents it was founded in 2021:

While Bitz Bank’s website is presented in English, a drop-down menu at the top is presented in Ukrainian:

Over on Bitz Bank’s official YouTube channel, we find an obligatory rented office video featuring an actor who speaks with an eastern European accent:

Note for some reason videos uploaded to Bitz Bank’s YouTube channel are in 240p.

Bitz Bank’s “Katherine Mellis” goes on to introduce purported CEO Andreas Halvorsen:

Bitz Bank’s Boris CEO Andreas Halvorsen is played by Peruvian national Walter Gil Astete:

Bitz Bank’s use of actors playing executives is typical of eastern European Boris CEO scams. Boris CEO scams are typically run by eastern Europeans from Russia or Ukraine.

Ukrainian appearing on Bitz Bank’s website lends itself to Ukrainians being behind Bitz Bank.

There’s a Walter Gil Astete on LinkedIn citing a Bulgarian location. This could be a bogus profile but it also might explain Astete’s connection to Ukrainian scammers.

In an attempt to appear legitimate, Bitz Bank provides company certificates for Montana and the UK.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are 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…]

What’s left of GSPartners spinoff Auratus Gold is gearing up to hold two marketing promo events in Queensland, Australia this weekend.

The events, which will no doubt be used to market Auratus Gold to Australians, follow two Auratus Gold specific fraud warnings issued by the Australian Securities and Investments Commission (ASIC). [Continue reading…]

After pleading guilty to money laundering charges, Firoz Patel’s plan seems to have been do a bit of jail time and then live off $24 million in stashed bitcoin.

Unfortunately for Patel the DOJ caught wind of the stash, prompting additional criminal charges filed in May 2023.

Patel pled guilty to obstruction last month and now faces a second prison sentence. [Continue reading…]

Pruvit has sued Vital Health for alleged infringement of ketosis related patents.

Pruvit is joined in its lawsuit by Axcess Global Sciences, a Texas shell company who licenses use of the patents to Pruvit. [Continue reading…]

US authorities have finally taken action against The Traders Domain Ponzi scammers.

On September 30th the CFTC filed suit against Traders Domain FX LTD and several additional corporate and individual defendants.

While The Traders Domain itself wasn’t an MLM opportunity, the scam is of interest to BehindMLM due to several MLM Ponzis feeding into it. The Traders Domain was also promoted by several well-known MLM figures. [Continue reading…]

Visalus has been ordered to pay $638,125 in legal costs.

The October 2nd order is part of a lawsuit filed against Visalus in 2015, alleging multiple violations of the Telephone Consumer Protection Act (TPCA). [Continue reading…]

Back in August BehindMLM covered Financial Education Services’ $324 million FTC settlement.

The settlement pertained to the FTC alleging FES “scam[med] consumers out of more than $213 million”.

On September 27th I received an email from Sue Griffin, representing herself to be VP of Agent Support for United Wealth Education Services, formerly FES.” [Continue reading…]