Gilbert Pardla and Gustav Poland have settled DagCoin fraud charges for “approximately 5000 euros”. [Continue reading…]

Armen Temurian is having trouble providing Vista Network trading proof.

Perhaps not surprising, given BehindMLM pegged Vista Network as a MLM crypto Ponzi back in 2017. This tracks with a CFTC investigation, which led to a $7 million fraud lawsuit. [Continue reading…]

Websea USDT fails to provide ownership or executive information on its website.

Websea USDT operates from two known website domains:

1. websea58usdt.vip – privately registered on April 2nd, 2025
2. web-sea567-usdt.com – privately registered on April 21st, 2025

If we look at the source-code of Websea USDT’s website, we find Chinese:

This suggests whoever is running Websea USDT 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…]

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

Limdex’s website domain (“limfex-capital.com”), was privately registered on November 1st, 2024.

On its website Limdex presents Mateo Lascar as its CEO:

The problem is Mateo Lascar doesn’t exist outside of Limdex’s website and marketing. This makes Mateo Lascar a prime Boris CEO candidate – that is to say Mateo is being played by an actor.

Over on Limdex’s official YouTube channel we find a typical Boris CEO rented office marketing video:

Notably the actor playing Mateo Lascar speaks Spanish and has been dubbed over. As for the video itself, it appears to have been shot in a Spanish-speaking country (“oficina” appears on one of the office doors).

Limdex’s rented office marketing video was uploaded to YouTube on January 9th, 2025. It appears the actor playing Mateo Lascar is long gone.

On April 15th, Limdex uploaded a new marketing video featuring “Daniel Carter”:

The actor playing Daniel Carter speaks with an eastern European accent. This ties into the vast majority of Boris CEO schemes being run by eastern European scammers (Russia, Ukraine and/or Belarus).

Update 11th May 2025 – A BehindMLM reader in the comments below has outed Limdex’s “Daniel Carter” as Russian actor Gulyavskiy Oleg:

Here’s Oleg modelling for Yandex Delivery in Moscow:

/end update

In an attempt to appear legitimate, Limdex provides company registration details for Limdex Capital Limited.

Limdex Capital Limited appears to have been registered in Canada and Delaware in November 2024 and February 2025 respectively.

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.

Although it should be obvious, Limdex is unlikely to have any actual physical presence in either Canada or the US.

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…]

Treasure Island claims its unregistered investment scheme has generated “just over $200,000”.

In an email sent out by “Jeff and Team Treasure Island” on May 6th, Treasure Island revealed just 519 affiliates invested out of the 8574 who signed up. [Continue reading…]

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

ZTZ AI operates from three known website domains; “ztzzai.com”, “ztzaiz.com” and “ztzailtd.com”.

All of ZTZ AI’s domains were privately registered on April 30th, 2025.

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…]

X365 fails to provide ownership or executive information on its website.

X365’s website domain (“x365.ai”), was first registered in 2023. The private registration was last updated on February 26th, 2025.

Additional domains associated with X365 include:

• x365.gg – privately registered on February 10th, 2025
• fx365.pro – privately registered on February 11th, 2025

Over on X365’s official YouTube channel we find AI-generated marketing videos. This is typical of scammers hiding ownership of an MLM company.

Update 15th May 2025 – X365’s official FaceBook page is managed from India:

This strong suggests whoever is running X365 is based out of India. /end update

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…]

Quantitative Strategies, aka BNUSDT, fails to provide ownership or executive information on its website.

Quantitative Strategies’ website domain (“bnusdt.com”), was privately registered on April 5th, 2025.

Quantitative Strategies has already attracted the attention of financial regulators. The Central Bank of Russia issued a Quantitative Strategies pyramid fraud warning on May 6th, 2025.

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…]

While it does disclose it was founded in Malaysia in 2022, OlyLife fails to provide ownership or executive information on its website.

The only name publicly attached to OlyLife is Lee Chong Wei, a former Malaysian national badminton player:

Note Wei doesn’t appear to be an OlyLife executive. He’s cited only as is cited only as a “Tera-P90’s Ambassador” (brand ambassador).

Further research reveals OlyLife promoters citing Jenni Ma as CEO:

Ma (right) is represented to be a Chinese national.

Why OlyLife ownership and executive information is hidden from consumers is unclear.

In addition to Malaysia, OlyLife’s website lists offices in Indonesia, Singapore and Thailand.

Marketing on social media suggests OlyLife might have also recently spread to Canada:

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…]

Jim Aleksander Anderson has been arrested in Spain. Following his arrest, Anderson was extradited to France.

Details are vague but French police are reported to suspect Anderson “is involved in a large-scale Ponzi scheme.” [Continue reading…]