Profit Connect victims will soon be able to file claims with the court-appointed Receivership.

On June 13th, the Profit Connect Receiver’s proposed claims submission process received court approval. [Continue reading…]

Following his arrest in Spain back in late 2020, Santi Fuentes has been charged in relation to ArbiStar.

Spanish prosecutors allege ArbiStar was a $92 million plus Ponzi scheme. [Continue reading…]

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

Infact, as I write this, Verse Network’s website domain is disabled. Access to the MLM opportunity is through an “app” subdomain, which redirects to an affiliate signup form.

Verse Network’s website domain (“verse-corp.com”), was privately registered on April 18th, 2023.

Further research reveals Verse Network marketing citing Brice van den Bussche as a “founding member” of Verse Network.

I’ve also seen Bussche cited as Verse Network’s CEO.

Someone left out of Verse Network’s marketing is co-founder Joseph Paillant.

Multiple BehindMLM readers have pegged Brice van den Bussche (right) and Joseph Paillant as the actual owners of the collapsed Mainet Ponzi scheme.

I suspect Paillant has been intentionally left out of Verse Network’s marketing because, at least officially, he was Mainet’s Vice President of Sales.

Again, I wasn’t able to definitively link Brice van den Bussche but, generally speaking, where there’s smoke there’s fire.

What I was able to definitively confirm is Bussche’s long history of MLM Ponzi scamming.

In early 2016 Bussche was promoting BeOnPush:

BeOnPush collapsed in July 2016 and was rebooted as BeOnTel.

Bussche was also a promoter of the Fort Ad Pays Ponzi scheme.

The SEC sued Fort Ad Pays and owner Pedro Fort for $38 million in 2017.

I don’t know what Bussche was up to in 2018, but in 2019 her returned to Ponzi scamming with Magnus Capital Center.

A BehindMLM reader pegged Bussche as the “real admin behind Magnus Capital Center” in April 2019.

Magnus Capital Center collapsed in June 2019. In July 2019 BeTrader, the precursor to Mainet, surfaced in Dubai.

BeTrader collapsed on or around October 2019. It was rebooted as BeTrader Academy, another short-lived Ponzi scheme.

Update 3rd July 2023 – In early to mid 2022 Bussche launched Netbox TV, a short-lived pirate streaming pyramid scheme. /end update

That brings us to Mainet, which launched in mid to late 2022. BeTrader, BeTrader Academy and Mainet were all fronted by Romanian national Ciprian Ciceu.

Ciceu seems to have been ditched for Verse Network.

Last month Autorite des Marches Financiers added Mainet to France’s securities fraud blacklist. This coincided with Mainet disabling withdrawals and collapsing earlier in May.

In the lead up to Mainet’s collapse, Brice van den Bussche fled Europe for Dubai in on or around May 6th.

Joseph Paillant appears to have already been in Dubai as a result of his involvement in Mainet.

A few weeks after Mainet collapsed, Verse Network was announced.

Verse Network is incorporated through a shell company in Cyprus but is operated from Dubai.

This isn’t a coincidence, Dubai is 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 Verse Network, read on for a full review. [Continue reading…]

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

BoUSDT’s website domain (“bousdt.org”), was first registered on March 16th, 2022. The private registration was last updated on May 6th, 2023.

Update 10th September 2023 – BOUSDT also operates from the domain “bousdt.cc”, first registered in March 2022.

The private .CC registration was last updated on May 5th, 2023. /end update

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

This strongly suggests whoever is running BoUSDT 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…]

The Turbo “forex bot” investment scheme has collapsed.

Following months of non-payment, Turbo has announced a $10,000 “private club” reboot. [Continue reading…]

Carnelian12 has collapsed.

Investors in the Ponzi scheme are claiming non-payment of withdrawals since late May. [Continue reading…]

Crowd1 has exit-scammed Sweden through a good old fashioned bankruptcy.

As reported by SvD in a paywalled June 12th article, Crowd1’s Swedish shell company, Impact Crowd Technology Scandinavian AB, filed for bankruptcy on Friday, June 9th. [Continue reading…]

Following ~2 months of withdrawal issues, Maxpread Technologies has collapsed.

The Russian scammers running the Ponzi are trying to keep it together. Meanwhile former CEO and frontman Jan Gregory has thrown his partners in crime under the bus. [Continue reading…]

Swiss Valorem Bank launched in mid May. The company is a rebranding of GSPartners.

GSPartners is owned and operated by Josip Heit.

Originally from Croatia, Heit is believed to hold a German passport.

GSPartners was launched back in 2021 following the collapse of Karatbars International’s KBC cryptocurrency Ponzi scheme.

Karatbars International was owned and operated by Harald Seiz. Seiz partnered with Heit and his Gold Standard Bank circa 2017-2018.

Heit’s partnership with Seiz eventually led to Karatbars International lunching KaratGold Coin (KBC) in mid 2019.

The launch was a disaster, with KBC dumping 62% within a few days.

Sitting on funds they’d milked investors out of, Seiz and Heit laid low for most of 2019 and 2020.

Sometime in early 2020 “Gold Standard” was launched, and along with it yet another token reboot. This time it was G999.

After Gold Standard’s launch, Harald Seiz and Josip Heit had a falling out. This led to Heit leaving Karatbars International and launching GSPartners in late 2020.

The original iteration of GSPartners was a simple MLM crypto investment scheme built around G999 token (the same token launched under Karatbars earlier in 2020).

G999 wasn’t worth anything within GSPartners. The token was dumped on public exchanges in February 2021.

Early GSPartners investors were quick to cash out, prompting the inevitable Ponzi coin dump. G999 never recovered.

Since GSPartners’ original G999 investment scheme, Heit has launched numerous failed iterations;

• J One – failed Dubai real-estate scheme built around short-lived JONE token (June 2021)
• XLT – JONE token replacement for real-estate and Lydian World metaverse grift (July 2021)
• Lydian Lions – NFT grift (January 2022)
• LYS token – created around the time the Lydian Lions NFT grift launched, was artificially pumped to $1800 in early 2022 – now $3.23

In May 2022 GSPartners launched its current “metaverse certificates” investment scheme. This coincided with the launch of GEUR, yet another token.

GEUR is cashed out 1:1 against the euro, but isn’t publicly tradeable and doesn’t exist outside of GSPartners.

Over the next 12 months GSPartners received regulatory fraud warnings from multiple jurisdictions:

• the Central Bank of the Comoros issued a GSB Gold Standard Bank LTD fraud warning in June 2022
• the Alberta Securities Commission in Canada issued respective GSTrade and G999 securities fraud warnings in March 2023
• Autorite des Marches Financiers (Quebec, Canada) issued a GSPartners securities fraud warning in March 2023
• the owner of GSPartners’ former financial services provider was arrested in May 2023
• the Alberta Securities Commission issued a GSPartners securities fraud warning in May 2023

As the regulatory fraud warnings began to pile up, GSPartners rebranded itself as Swiss Valorem Bank in mid May, 2023.

Post rebranding, British Columbia and Saskatchewan have both issued GSPartners and Swiss Valorem Bank securities fraud warnings.

Since the metaverse certificates launch in mid 2022, GSPartners has launched two additional iterations. The third, “elemental certificates”, coincided with the Swiss Valorem Bank rebranding.

It is this third elemental certificates iteration that we’re reviewing today.

In addition to Josip Heit, Swiss Valorem Bank lists the following individuals as insiders:

• Alex Oelfke – Skyground CEO advisory, member GSBDSwiss
• Ehssan Memarpuri – VII Real Estate CEO, advisory member SwissValue
• Roger Hassanov – Swede Shield Chairman, advisory member SwissValue
• Dirc Zahlmann – GSB Head of M&A and marketing advisor
• Alex Cocindau – Group CTO, creator of Lydian World
• Frank Deyle – Swiss Valorem Marketing Advisor, advisory member SwissBenesse
• Dennis Uitz – Dennis Uitz Trading Academy CEO
• Aline Lima – Partner Relationship Manager, advisory member GSBDSwiss
• Bruce Hughes – GSB Corporate Trainer
• Andreas Evripidou – Key Account and Banking Partner Manager Swiss Valorem

It should be noted that Josip Heit relocated from Germany to Dubai shortly after GSPartners’ launch.

Although it’s tied to the German shell company GSB Gold Standard Corporation AG, GSPartners is run out of Dubai.

This isn’t a coincidence. Dubai is the MLM crime capital of the world.

Other shell companies listed on Swiss Valorem Bank’s website include:

• GSB Gold Standard Bank LTD (fake Mwali shell company)
• Swiss Valorem Bank LTD (Kazakhstan)
• IBBP Pay Services LTD (Kazakhstan) and
• CoinX24 AG (Switzerland)

With respect to Swiss Valorem Bank being operated from 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 Swiss Valorem Bank, read on for a full review. [Continue reading…]

A Joint Stipulation has seen the Trump children dismissed from the ACN fraud class-action.

Former defendants Donald J. Trump, Jr., Eric Trump and Ivanka Trump were dismissed with prejudice on May 19th. [Continue reading…]