EmpiresX, currently under Receivership as Empires Consulting, has settled commodities fraud charges with the CFTC.

The proposed settlement against Empirex details a permanent injunction and $32.1 million civil monetary penalty. [Continue reading…]

GSPartners has disabled its website.

Attempts to visit GSPartners’ previously accessible website at “gspartners.global” now returns a “domain parked” message: [Continue reading…]

Following his arrest on March 13th, CBI Global owner Coenie Botha contacted attorney Afrika Jantjies to represent him.

When Botha and Jantjies presented at court, Jantjies was promptly arrested as a CBI Global accomplice. [Continue reading…]

The Texas State Securities Board has confirmed GSB Gold Standard Corporation is still banned across the state.

On March 13th TSSB Enforcement Director Joe Rotunda posted the following to Twitter; [Continue reading…]

The Electronic Frontier Foundation (EFF) has filed an amicus brief in support of BehindMLM.

The brief is part of ongoing litigation initiated by GSB Gold Standard Corporation. [Continue reading…]

Coenie Botha has been charged by the Bank of Namibia (BoN).

New Era were first to note Botha’s appearance “Windhoek Magistrate’s Court on a charge of fraud” yesterday.

As per a subsequent press-release issued by the Bank of Namibia earlier today; [Continue reading…]

Aiscend’s first red flag is failure to disclose ownership or executive information on its website.

Aiscend’s website domain (“aiscend.io”), was privately registered on July 25th, 2023.

In researching Aiscend I kept coming across references to B-Epic. This saw me return to Aiscend’s website, where I found mention of B-Epic in its Terms and Conditions: [Continue reading…]

Federation Network fails to provide ownership or executive information on its website.

Federation Network’s website domain (“federation-app.com”), was privately registered on August 24th, 2023.

A marketing presentation hosted on Federation Network’s website cites “Sarah Cohen” as its CEO.

Cohen doesn’t exist outside of Federation Network’s marketing, making her a prime Boris CEO candidate.

In a January 8th Federation Network marketing video, we learn the actor playing Cohen speaks French.

The video is hosted by Halan Nelson, a French leader in the collapsed Mainet Ponzi scheme.

In an attempt to appear legitimate, Federation Network claims it has a $50 million insurance contract with Prudential Financial in the US.

In an attempt to verify this, a BehindMLM reader reached out to Prudential Financial.

Here’s the reply received from Prudential Financial’s Corporate Investigations Division;

Thank you for contacting the fraud investigations unit at Prudential Financial. The insurance certificate you attached is not genuine and in no way related to Prudential Financial, Inc. located in Newark, NJ, USA.

This appears to be a scam. Furthermore, there is no affiliation between Prudential Financial and any entity called “fdrtn network ltd”.

If you believe you have been a victim of a scam, you may do the following:

• Contact local law enforcement and report the fraud.

• You may also report the fraud on the FBI’s website for reporting internet crime – www.ic3.gov.

• Additionally, if you interacted with anyone using a messaging service like WhatsApp, you can report the account to WhatsApp as fraud as well.

• If you were using a mobile app related to this scam, you may also report the app to the app store from which you downloaded it.

Kind Regards,

Corporate Investigations Division

Federation Network also provides two corporate addresses on its website, one in the UK and one in Hong Kong. Neither address appears to have anything to do with the company.

Attached to these addresses is the shell company FDRTN Management Limited, registered in Hong Kong on February 22nd, 2024.

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 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…]

GSPartners and NovaTech FX have been classified as “cryptocurrency scams” by the Massachusetts Attorney General’s Office.

As per a press-release issued earlier this week, GSPartners and NovaTechFX are among a list of scams the MA AG’s Office warns of having ties to criminal activity. [Continue reading…]

369X operates in the cryptocurrency MLM niche.

369X’s website domain (“369x.io”), was privately registered on October 30th, 2023.

On January 20th Mavie Global held a marketing event in Budapest, Romania. At the event, 369X was launched.

In a January 19th Instagram post, 369X claimed to be in a “partnership” with Mavie Global and Ultron.

Mavie Global and Ultron are the same Ponzi scheme run by CEO Michal Prazenica.

369X seems to be an attempt to break into Central and South America, spearheaded by CEO Francesco Porcu.

Porcu appears to be an Italian national. Possibly due to language barriers, I wasn’t able to ascertain whether Porcu has an MLM history.

As per his 369X corporate bio, Porcu appears to have a history in non-MLM forex.

With nearly two decades of experience in the financial markets, Francesco played a pivotal role in funding efforts at Hantec Markets Ltd before founding Black Peral [sic] Securities Ltd in 2013, a highly respected and FCA-regulated online trading brokerage.

369X’s other named executives, Francesco Fiacchi (CTO) and Marco Baggioli (CCO), also appear to be Italian nationals.

That said, 369X, Francesco Porcu and Michal Prazenica are all based out of Dubai.

Instead of being honest about Dubai 369X operates through 369 Clearing Group Limited, a Seychelles shell company.

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 369X, read on for a full review. [Continue reading…]