CryptoProgram has been ordered to cease trading in British Columbia, Canada.

The British Columbia Securities Commission issued the order after CryptoProgram was confirmed to be committing securities fraud. [Continue reading…]

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

Liquidix’s website domain (“liquidix.io”), was privately registered on February 16th, 2023.

One name we can tie to Liquidix is Alex Meurer, aka AM Crypto.

Meurer, originally from Germany, has spent the last few years living in Ukraine and Dubai.

I couldn’t find any mention of Liquidix on AM Crypto or any of Meurer’s social media profiles. At first I thought Liquidix might have misappropriated his name and YouTube brand.

With a bit more digging I came across an April 2023 Liquidix marketing video…

…in which Meurer states;

I’m really looking forward to the launch of Liquidix tomorrow.

Tomorrow is the launch, I really cannot wait to get everyone on board and to enjoy the profits that we can make all there together.

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

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

Lusate’s website domain (“lusate.com”), was first registered in 2015. The private registration was last updated on April 11th, 2023.

Lusate’s current website was created between March and May 2021. I believe the website sat dormant until the attached MLM opportunity, details of which are completely absent on Lusate’s website, was launched relatively recently (late 2022, early 2023).

Even if we take Lusate’s website creation date at face value, the company has thus been around for a maximum of two years.

On its website Lusate falsely claims it was “founded in 2011.

As to who is running Lusate, our first clue is the use of Yandex Translate on its website.

Website traffic to Lusate’s website began to pick up in March 2023. In April 2023 SimilarWeb tracked 98% of Lusate website traffic originating from Belarus.

For reference, Lusate website traffic was dead in February 2023. In March it was still negligible, climbing to around ~7000 total visits for April.

Belarus being the primary source of that traffic and use of Yandex Translate, strongly suggests Lusate is being operated by eastern Europeans. Typically this means Russians and/or Ukrainians.

In an attempt to appear legitimate, Lusate provides a corporate address in Ireland on its website.

This address is currently being used by the company Slack. The address has nothing to do with Lusate.

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…]

OneCoin’s current highest ranking promoter has quit the Ponzi scheme.

Instead of just admitting there’s nobody left to scam, Cordel King Jayms is citing “personal reasons”. [Continue reading…]

Fintoch has received a securities fraud warning from Singapore.

The Monetary Authority of Singapore added Fintoch to its Investor Alert List on May 4th. [Continue reading…]

NovaTech FX has added the US and Canada to its list of “restricted areas and regions”.

Practically speaking the move means little but it’s the loudest acknowledgement of securities fraud yet. [Continue reading…]

Herbalife has settled fraud allegations pertaining to its “Circle of Success” events for $12 million.

Herbalife has also agreed to stop misleading consumers by making changes to its corporate policies. [Continue reading…]

The SEC alleges Root Wellness founder Clayton Thomas stole $730,000 from an investor back in 2019.

Rather than defend the SEC’s charges, Thomas has opted for a settlement.

As alleged by the SEC in their May 9th Complaint, Thomas told the investor funds ‘would be used to purchase certain medical devices called the TM-Flow System.’ [Continue reading…]

While South African authorities haven’t done much on the criminal side of things, last year SARS, the country’s tax regulator, informed MTI’s Liquidators it intended to bill them $34.46 million.

This amount, representing unpaid taxes by the $1.7 billion Ponzi scheme, was just shy of total recovery.

As of March 2023, the dispute between MTI’s Liquidators and SARS was expected to drag into 2024.

Now, the unexpected news that MTI’s Liquidators and SARS have reached a settlement. [Continue reading…]

The LT Wallet Ponzi scheme has collapsed.

The scam’s website is still up but withdrawals have been disabled. [Continue reading…]