Saskatchewan’s Financial and Consumer Affairs Authority has requested GSPartners investors get in contact.

[Continue reading…]

Michael Rutherford has been a Pruvit affiliate for over eight years.

Through “Ketones Rule”, Rutherford and his family live off “approximately $60,000 to $80,000” a month in generated Pruvit commissions.

Allegedly without warning or prior notification, Pruvit stopped paying out Rutherford in April 2023.

So far alleged owed commissions to Ketones Rule is $181,393 and climbing.

Seeking to recover that amount plus damages, Ketones Rule filed a civil suit against Pruvit in Texas on May 17th. [Continue reading…]

The first of “around 31” Generation Zoe defendants has been sentenced to four years in prison.

Gustavo Saavedra, who worked as a lawyer for Generation Zoe, pled guilty to fraud charges last month.

Following entry of his guilty plea, Saavedra was subject to an “abbreviated trial” as per Argentinian law. [Continue reading…]

Metaverse Foreign Exchange, abbreviated as MFTE, fails to provide ownership or executive information on its website.

MTFE’s website domain (“mtfe.ca”), was first registered in December 2021. The private registration was last updated on November 15th, 2022.

Despite only existing for a year and a half or so at best, a false claim I kept seeing parroted in MTFE marketing was that the company has been around since 2015.

In an attempt to appear legitimate, MTFE provides a Canadian corporate address on its website and FINTRAC registration number.

The corporate address is a virtual office address provided by Davinci Virtual. The FINTRAC registration is meaningless as FINTRAC is not a financial regulator.

It appears MTFE has been fronted by an AI bot avatar:

And a Boris CEO actor:

As to who’s actually running MTFE, we have CEO Masud Al Islam.

Islam is a Bangladesh national, apparently hiding out in Dubai. This confirms MTFE has no ties to Canada and is in fact a Dubai-based company.

According to his personal LinkedIn profile, Islam has been CEO of something called MyShop Express since 2020.

MyShop Express it is not a name only, it is a symbol of stirring, technology & contentment. In this world technology comes first for any kind of services.

We are creating technologies instrument. With this instrument we can buy, we can sell, we can multiply our businesses and many more. In our country for the first time we are providing full of technologies goods that no one can think before.

We have a strong team who can really build up our business, can produce effective products to the people and many more.

So, we can say that “JAGBEI BANGLADESH”, which is our slogan also”.

I ran a search for “myshop express Bangladesh” and nothing came up. Not sure if it’s an actual company or something Islam made up.

What I was able to confirm is, prior to getting involved in MTFE, Islam was a PLC Ultima Ponzi promoter:

PLC Ultima is a reboot of Alex Reinhardt’s PlatinCoin Ponzi scheme.

PLC Ultima began to collapse around mid 2022. This coincides with Islam first posting about MTFE on his FaceBook profile on October 2nd, 2022.

I couldn’t help but notice the Chinese subtitles in MTFE’s AI avatar marketing video. Given the December 2021 domain registration date, I believe the original iteration of MTFE might have been targeted at Chinese investors.

This suggests Islam might be working with Chinese scammers. Further supporting this is MTFE’s original social media profiles having been deleted.

Islam was likely brought on to specifically target people from Bangladesh, Sri Lanka and India – including his PLC Ultima downline.

As of May 2023, SimilarWeb tracks top sources of traffic to MTFE’s website as Bangladesh (33%), Sri Lanka (27%), India (12%) and the UAE (7%).

It’s safe to assume MTFE’s UAE traffic is scammers from Bangladesh, Sri Lanka and India also hiding out in Dubai.

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

The first version of DFMall operated from the domain “dfmall.store”. It has already collapsed.

DFMall’s reboots operate from the domains:

• dfmall777.com – privately registered on February 20th, 2023
• dfmall.3ag.store (subdomain) – privately registered on May 5th

Note there might be other DFMall website domains I’m not aware of.

DFMall fails to provide ownership or executive information on any of its websites.

As of May 2023, SimilarWeb is tracking the majority of DFMall’s .COM website traffic coming from Germany (85%). Turkey is also being targeted (7%).

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…]

Rolvi Trading has received a securities and pyramid fraud warning from New Zealand’s Financial Markets Authority. [Continue reading…]

MetaSpaceX has one of those god awful to navigate flash style websites from the 2000s.

With a bit of trial and error navigation, we eventually learn Jessy Lai (Lai Chai Shuang) is behind the company.

Lai started her scamming career as a top promoter of Zhang Jian’s Yun Shu Mao (YSLM) pyramid scheme. [Continue reading…]

ADV fails to provide ownership or executive information on their website.

ADV’s website domain (“advvip.com”), was privately registered on May 24th, 2023.

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

This strongly suggests whoever is running ADV 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…]

Richard Maike, Doyce G. Barnes and Faraday Hosseinipour will pay back over $10 million dollars in Infinity2Global restitution.

As per a June 6th restitution order; [Continue reading…]

Several Defendants in the ongoing TelexFree class-action have entered mediation proceedings. [Continue reading…]