TranzactCard clarifies Bangor Bank is a “sponsor bank”
On Wednesday December 13th, TranzactCard announced Maine headquartered Bangor Bank as its “new banking partner”.
On Friday December 15th, Bangor Bank confirmed they had no partnership with TranzactCard.
On Saturday December 16th, TranzactCard held an unscheduled “all hands-on-deck TranzactCard field update.”
During the call, new COO Ken Doherty confirmed Bangor Bank was not TranzactCard’s “banking partner”.
Doherty instead claimed Bangor Bank is TranzactCard’s “sponsor bank”.
What’s the difference between a “partner bank” and a “sponsor bank”?
No idea. [Continue reading…]
GSPartners collapses, GSPro reboot after fraud warnings
GSPartners has collapsed.
In an attempt to get ahead of multiple regulatory fraud warnings from the US, Canada, South Africa and Australia, the Ponzi scheme has rebranded as GSPro. [Continue reading…]
Jeremie Sowerby indicted for Dunamis Mining fraud
Serial MLM crypto Ponzi scammer Jeremie Sowerby has been indicted for a third time.
On December 12th, Sowerby was indicted on charges related to Dunamis Global Technologies. [Continue reading…]
JokerX Review: Michael Sander misses NFT grift train
JokerX fails to provide ownership or executive information on its website.
In fact, as I write this, all you can do on JokerX’s website is sign up or log in as an affiliate. The rest of the site is disabled.
Over on FaceBook we find Michael Sander referring to JokerX as his “own company”.
Back in the day Sander (aka Michi Sander), ran the pro-scam publication Obtainer Online.
BehindMLM first came across Sander (right) after Obtainer Online ran a puff-piece on ViziNova scammer Renato Rodriguez.
Prior to Vizinova’s launch in 2014, BehindMLM had been closely following Rodriguez’s participation in WCM777.
Both Vizinova and WCM777 were MLM Ponzi schemes.
ViziNova saw Sander migrate from just supporting scams in Obtainer Online, to assisting Rodriguez launch Vizinova.
Sander (right) signed on as Vizinova’s “Chief Consultant”.
ViziNova has engaged OBTAINER’s founder Michael Sander, who as chief consultant has developed the company structure and the set-ups.
In April 2014 Sander described Vizinova as
a business concept that is coherent, transparent and profitable.
ViziNova isn’t a Ponzi scheme or a pyramid system because from the very outset Renato Rodriguez and Gutemberg dos Santos are demonstrating transparency.
As Vizinova began to collapse in early 2015, Sander distanced himself from the Ponzi scheme.
In March 2017 the SEC revealed it had charged Renato Rodriguez and Gutemberg Dos Santos with fraud, alleging Vizinova to be a $5 million dollar Ponzi scheme.
Rodriguez and Gutemberg settled the SEC’s charges.
They would continue to defraud consumers through AirBit Club, leading to their respective arrests and indictments in 2020.
Earlier this year Rodriguez was sentenced to twelve years in prison. Dos Santos received just over three years.
Another Ponzi scheme Sander supported through Obtainer Online was Bonofa.
Bonofa’s owners were arrested in Germany in May 2016. A month later what was left of the Ponzi scheme was fed into OneCoin.
BehindMLM last came across Sander through Baccarat Staking in 2021.
Baccarat Staking was a gambling themed Ponzi scheme that collapsed in March 2022. A Baccarat Academy reboot was announced but doesn’t appear to have gone anywhere.
After his gambling Ponzi schemes Sander resurrected Big Boy Cash, an alias he created in or around 2017.
In May 2022, a few months after Baccarat Staking collapsed, Sander paid Snoop Dogg an appearance fee and put out a music video.
I know art is subjective but I think we can all agree “Billionaire Cash” is truly awful.
Sander resides in Las Vegas, Nevada, from which is various schemes are operated from.
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…]
ITP Corp securities fraud warning from Washington
The ITP Corp “click a button” app Ponzi has received a securities fraud warning from Washington.
In their December 15th warning, the Department of Financial Institutions (DFI) warns ITP Corp “appear(s) to be engaged in fraud”. [Continue reading…]
Bangor Bank denies partnership with TranzactCard
Maine headquartered Bangor Bank has denied having a partnership with TranzactCard.
The denial comes just days after TranzactCard corporate revealed Bangor Bank as their new US partner bank. [Continue reading…]
Finalmente Global victims warned to verify details by Dec 31st
Finalmente Global liquidators have warned victims they have until December 30th to verify their personal details.
The looming deadline for Finalmente Global victims comes as liquidators claim their “legal representatives” [Continue reading…]
Infinity Pi Ponzi reboot collapses, token dumped to 5 cents
Infinity Pi initially launched on or around August 2023.
The original Ponzi scheme was built around Pi token and collapsed in October.
Shortly thereafter a reboot was announced, this time built around infinity token. [Continue reading…]
Benjamin Herzog pleads guilty to EXW Wallet fraud charges
EXW Wallet co-founder Benjamin Herzog has pled guilty.
Herzog’s guilty plea was entered mid-trial, following damning testimony from his ex-girlfriend, [Continue reading…]
OnPassive Ponzi fraud warning issued by Bangladesh
OnPassive has received a Ponzi fraud warning from Bangladesh.
As per the Bangladesh Bank’s December 12th warning, OnPassive is a “fraudulent Ponzi scheme” engaged in “embezzlement of large amounts of money”. [Continue reading…]
