ProCap Insurance Review: Scammers arrested in Philippines
ProCap Insurance fails to provide ownership or executive information on its website.
ProCap Insurance’s website domain (“procap.insure”), was privately registered on December 12th, 2022.
In an attempt to appear legitimate, ProCap Insurance touts a shell company in Seychelles.
Notwithstanding Seychelles being a tax-haven, for the purpose of MLM due-diligence shell incorporation anywhere is meaningless.
Of note is ProCap Insurance claiming to have offices in Manila, Philippines.
This ties into the arrest of twenty ProCap Insurance scammers on October 15th.
As per a press-release issued by the Philippine Criminal Investigation and Detection Group, twelve locals and eight foreign nationals were arrested at a marketing event held at the Dusit Thani Hotel.
During the operation, authorities recovered three (3) genuine One-Thousand-peso bills (Dusted Money), Four Hundred Fifty-One-Thousand-peso (Investment Money), and one (1) USB Flash drive containing the Powerpoint Presentation of the said unlicensed company.
The foreign nationals appear to be Chinese and/or Singapore nationals based out of Singapore.
If I had to guess, the foreign nationals were likely running or tied to running ProCap Insurance. Arrested locals were likely mostly ringleader promoters.
The arrestees have been criminally charged with securities fraud and violating the Financial Products and Services Consumer Protection Act.
At time of publication ProCap Insurance’s website is still online, so read on for a full review. [Continue reading…]
BCN’s Joby Weeks ditches wife with stage 4 cancer
BitClub Network’s Joby Weeks has reportedly bailed on his wife Stephanie Weeks.
The couple have a young child together, and Stephanie was recently diagnosed with stage 4 cancer. [Continue reading…]
Passivo securities fraud warning from Austria
Passivo has received a securities fraud warning from Austria.
The FMA warns investors against concluding transactions with Passivo Ltd.
As per the FMA’s October 18th warning, Passivo “is not authorised to carry out banking transactions in Austria that require a licence”. [Continue reading…]
DOJ seizes millions in crypto from fugitive Kristijan Krstic
The DOJ has seized millions of dollars worth of crypto from wanted fugitive Kristijan Krstic. [Continue reading…]
Safir pyramid scheme fraud warning from Russia
Safir has received a pyramid fraud warning from Russia.
As per the Central Bank of Russia’s October 18th warning, Safir exhibits “signs of a financial pyramid” scheme. [Continue reading…]
Fawsa Tron Review: MLM crypto Ponzi targeting Pakistan
Fawsa Tron fails to provide ownership or executive information on its website.
In fact as I write this, Fawsa Tron’s website is nothing more than an affiliate registration/login form.
Fawsa Tron’s website domain (“fawsatron.com”), was privately registered on September 27th, 2023.
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…]
JBL Mall Review: Ecommerce “click a button” app Ponzi
JBL Mall fails to provide ownership or executive information on its website.
JBL Mall’s website domain (“jblmall.vip”), was privately registered on September 30th, 2023.
Of note is JBL Mall’s website being registered through the Chinese registrar Alibaba (Singapore).
We also find reference to the Chinese yuan on JBL Mall’s website:
This strongly suggests whoever is behind JBL Mall 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…]
Kannaway in crisis? Mfinity Global executives gone.
Kannaway and parent company Medical Marijuana appear to be in crisis.
Following the acquisition of Mfinity Global a year ago, Bill Andreoli signed on as Kannaway’s new President.
In an communication sent out last Friday, Kannaway has advised Andreoli “and his executive team … are moving to an opportunity with a new company”.
That takes effect at the end of November 2023. [Continue reading…]
Lozano v. Pruvit goes through messy motion to dismiss
Deanna Lozano’s lawsuit against Pruvit has survived a messy motion to dismiss.
Of the eight claims in Lozano’s lawsuit, Pruvit’s motion to dismiss claims 2 to 8 were denied. Pruvit’s motion to dismiss Lozano’s claim for injunctive relief was also denied. [Continue reading…]
RunnaRiz Review: 70% a month Ponzi targeting South Africa
RunnaRiz fails to provide ownership or executive information on its website.
RunnaRiz’s website domain (“runnariz.com”), was privately registered on October 14th, 2023.
The use of South African rand suggests RunnaRiz is primarily being marketed to South Africans.
Whether South Africans are running RunnaRiz is unclear.
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…]
