SEC sues “Empowerment Project” Mike G Deal promoters
The SEC has sued two additional promoters of the Mike G Deal (aka CoinDeal).
Arline Woodbury (70) and Joyce Holverson (76), stand accused of “making and/or disseminating various false statements about CoinDeal when soliciting prospective investors.” [Continue reading…]
Secrets of Success Review: Funding Russell Brunson’s library
Secrets of Success operates in the marketing tools MLM niche.
The company is headed up by Russell Brunson, who is based out of the US.
BehindMLM came across Brunson in 2017, as founder and CEO of Click Funnels.
Due to the lack of differentiation between retail customers and affiliates, as per FTC guidelines, Click Funnels operates as a pyramid scheme.
MLM companies Brunson has promoted include Pure Leverage (gifting scheme) and Rippln.
Read on for a full review of Secrets of Success’ MLM opportunity. [Continue reading…]
Neora not a pyramid scheme, rules Texas Court
Following a bench trial held last October, the Northern District Court of Texas began deliberation on FTC v. Neora.
On September 28th the court handed down its findings, ruling in favor of Neora. [Continue reading…]
Cryptoption Review: Tether (USDT) Ponzi scheme
Cryptoption fails to provide verifiable ownership or executive information on its website.
Cryptoption is purportedly headed up by CEO Divnendu Tiwari:
Tiwari doesn’t exist outside of Cryptoption’s website. This is a red flag and suggests either an alias is being used and/or a stolen social media photo.
Cryptoption’s website domain (“cryptoption.org”), was privately registered on July 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…]
Speed Growth Assets Review: 3.5% a day MLM crypto Ponzi
Speed Growth Assets fails to provide verifiable ownership or executive information on its website.
Instead, Speed Growth Assets provides up a list of people who likely don’t have anything to do with the company:
Following on from this, Speed Growth Assets claims to be “officially registered in Doha Qatar”.
Speed Growth Assets’ website domain (“speedgrowthasset.com”), was privately registered on July 14th, 2023.
Despite only existing for a few months, on its website Speed Growth Assets falsely claims it “launched in 26th August 2016”.
Speed Growth Assets also claims to already have 7.2 million investors and 45 million “users worldwide”. It has also purportedly already paid out $50.2 million.
I think it’s clear at this point that everything on Speed Growth Assets’ website is baloney.
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…]
Toga Limited loses sham SEC registration
The Toga Limited Ponzi scheme has lost its sham SEC registration.
As part of efforts to dupe investors in Asia, Toga Limited heavily touted its SEC registration in its marketing. [Continue reading…]
GTM Review: Social media “click a button” app Ponzi
GTM fails to provide ownership or executive information on its website.
GTM’s website domain (“imjys.com”), was privately registered on December 29th, 2022.
If we look at the source-code of GTM’s website we find Chinese:
This strongly suggests whoever is running GTM 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…]
Bulleto Review: Dubai-based smart-contract Ponzi cycler
Bulleto fails to provide ownership or executive information on its website.
Bulleto’s website domain (“bulleto.io”), was first registered in December 2020. The private registration was last updated on July 20th, 2023.
Based on the first video uploaded to its official YouTube channel, Bulleto appears to have initially launched on or around February 2023.
Bulleto’s marketing gives us several names we can attach to the opportunity:
Shivesh Kumar
Mahesh Sharma
Zee Senior (alias?)
Omar Khan
Sahil Raj Prajapati
Kumar Balwant
The majority of people tied to Bulleto seem to be from India. Bulleto is also targeting Bangladesh.
It should be noted that Bulleto’s FaceBook page is managed from the UAE:
This suggests even though it’s run by Indians, that Bulleto’s admins are hiding in Dubai.
Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.
BehindMLM’s guidelines for Dubai are:
- If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
- 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 Bulleto, read on for a full review. [Continue reading…]
AirBit Club’s Renato Rodriguez sentenced to 12 years prison
AirBit Club co-founder Pablo Renato Rodriguez, 40, has been sentenced to 12 years in prison.
On the money side of things, forfeiture was set at $65 million as per a previously consented to order back in March. [Continue reading…]
Jump Tradiny Review: Quantitative trading “click a button” Ponzi
Jump Tradiny [sic] fails to provide ownership or executive information on their website.
Jump Tradiny’s website domain (“jumptd.com”), was privately registered on July 17th, 2023.
In an attempt to appear legitimate, Jump Tradiny provides New York shell company and FINCEN certificates.
Jump Tradiny represents it registered the shell company Jump Tradiny LLC in New York on June 2nd, 2023.
Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence the New York certificate is meaningless.
FINCEN isn’t a financial regulator. Registering a shell company with FINCEN is thus also 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…]
