The Central Bank of Sri Lanka has issued a warning on eight MLM pyramid schemes.

Scams named in the Central Bank’s May 31st notice include: [Continue reading…]

QZ Asset Management has received a Ponzi fraud warning from the Philippines.

As per the Philippine SEC’s May 30th advisory; [Continue reading…]

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

This is because Fortescue has stolen the name and logo of Fortescue Metals Group, a mining company based out of Australia.

Fortescue operates from the website domain “fortescue.cc”, registered with bogus details on May 10th, 2023.

As to who’s running Fortescue, it’s likely a group of scammers tied to China:

This tracks with Fortescue’s website domain being registered through Alibaba.

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…]

Three QNet executives have been arrested on pyramid scheme fraud charges in Hyderabad, India.

As reported by India Today on May 30th; [Continue reading…]

Zoned AI fails to provide ownership or verifiable executive information on its website.

Zoned AI’s executives are presented on a first-name basis as cartoon avatars:

Zoned AI’s website domain (“zoned.ai”), was privately registered on April 18th, 2023.

Zoned AI’s Twitter profile was created in Chinese in September 2022.

Zoned AI’s website documentation is also presented in Chinese:

Be it Hong Kong or somewhere else, it’s pretty clear that Chinese speakers are behind the company.

Of note is the use of Traditional Chinese, which is used in Hong Kong, Taiwan and Macau.

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…]

Swiss Valorem Bank and GSPartners have received a securities fraud warning from British Columbia, Canada. [Continue reading…]

The man alleged to have ordered the murder of Lyubomir Ivanov, former head of the criminal division of Bulgaria’s national police, was murdered in South Africa last week.

Krassimir “Kuro” Nikolaev Kamenov, who has an Interpol red notice out on him, was “shot dead in Cape Town, South Africa.”

Kamenov’s wife and two other victims were all gunned down in the residence the family was staying in. [Continue reading…]

As per a Status Report filed by the SEC on May 4th, Ryan Evans has refused to settle his Saivian fraud case.

The parties have met and conferred several times regarding the potential to resolve this matter, including after the resolution of the matter as to the other defendants.

Unfortunately, the parties have so far been unable to reach a settled resolution.

This means that Evans’ June 7th trial will proceed as scheduled. [Continue reading…]

IM Mastery Academy has received a securities fraud warning from Luxembourg’s Commission de Surveillance du Secteur Financier.

As per the CSSF’s May 24th warning; [Continue reading…]

Frode Jorgensen has appointed a new Daxio CEO.

As Daxio’s new CEO, Robert Malkvist’s first order of business was to give Daxio victims the finger. [Continue reading…]