International Payout Systems (i-Payout), TD Bank and Telecom Logic have reached a settlement with the ongoing TelexFree class-action. [Continue reading…]

The Acting US Trustee for Tori Belle has filed a motion requesting its Chapter 11 bankruptcy be converted to a Chapter 7 liquidation.

The motion was supported by the Trustee for parent company LashLiner, whose own Chapter 11 bankruptcy was converted into a Chapter 7 back in August.

As filed on October 3rd, the Tori Belle Trustee claims; [Continue reading…]

VBit Limited has received a pyramid fraud warning from Russia.

As per the Central Bank of Russia’s October 11th warning, VBit Limited exhibits “signs of a financial pyramid” scheme. [Continue reading…]

Paparazzi and Plaintiffs Lori Teske and Terri Franklin have come to a settlement.

Following arbitrage proceedings ordered earlier this year, a joint stipulation was filed on October 10th. [Continue reading…]

Global Aid Club was a short-lived MLM smart-contract Ponzi.

Global Aid Club’s smart-contract was launched on October 5th, climbed to $222,492 and was then unceremoniously cleaned out on October 8th.

BehindMLM can now reveal Global Aid Club’s primary admin. [Continue reading…]

Preston Capital fails to provide ownership or executive information on its website.

Preston Capital’s website domain (“prestoncapital.io”), was privately registered on September 12th, 2023.

In an attempt to appear legitimate, Preston Capital claims it is “registered in UK and ha(s) a valid certificate of incorporation.”

An MLM company operating or claiming to operate out of the UK is a red flag.

UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.

As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.

For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.

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…]

VBit Limited fails to provide verifiable ownership or executive information on its website.

The company is purportedly headed up by fictional identities, represented by stolen profile photos:

VBit Limited’s website domain (“vbit.limited”), was privately registered on June 16th, 2023.

In an attempt to appear legitimate, VBit Limited provides UK shell company details for “VBit Limited”.

An MLM company operating or claiming to operate out of the UK is a red flag.

UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.

As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.

For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.

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…]

Although Global Aid Club launched in late September 2023, its smart-contract wasn’t created till October 5th.

BehindMLM reviewed Global Aid Club on October 7th, identifying it as a Ponzi scheme.

We also identified Andrew Colquhoun as the creator of Global Aid Club’s marketing material, as well as the likely owner of parent company SpicyDevs.

A few hours after our review was published, Colquhoun turned up to deny he was running Global Aid Club.

A few hours after that, Colquhoun and his accomplices drained Global Aid Club’s smart-contract and disabled withdrawals. [Continue reading…]

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

BullTrades’ website domain (“bulltrades.ai”), was privately registered on August 18th, 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…]

Property Robots 3D is a spinoff of Camhirst 3DCP.

As presented on Property Robots 3D’s website;

Property Robots Community has signed a special agreement with Camhirt Robots to purchase 3DCP robots.

Camhirst 3DCP is a non-MLM Ponzi scheme whose ruse was 3D printing houses.

Camhirst 3DCP ran its Ponzi scheme through its Camhirst3DCP token, on the promise of a passive 200% ROI.

Camhirst 3DCP is headed up by co-founder and CEO Adam Ahmed.

Ahmed is based out of the UK. His history prior to Camhirst 3DCP is unclear.

Update 23rd November 2023 – A reader in the comments below has provided information tying Adam Ahmed to the DasCoin Ponzi scheme.

DasCoin was part of John Pretto’s Coin Leaders (aka Net Leaders) Ponzi scheme.

Michael Mathias was CEO of DasCoin. Adam Ahmed was purportedly DasCoin’s Head of Global Business Development.

Of note is DasCoin’s advertisement of a “new Polish agency” in the Telegram announcement above.

Polish authorities seized $11.6 million from DasCoin scammers in Poland in 2018. DasCoin itself collapsed in mid 2019. /end update

SimilarWeb tracked just ~3200 visits to Camhirst 3DCP’s website in September 2023. From this we can surmize Camhirst 3DCP is dead.

This appears to have already prompted at least one spinoff in Passivo, a Dubai MLM crypto Ponzi launched in August.

Adam Ahmed made a cameo appearance in one of Passivo’s official marketing videos:

Be it from Dubai or the UK, Ahmed and the scammers he’s working with are assumed to be behind Property Robots 3D.

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…]