The PMPMine “click a button” app Ponzi has collapsed.

Yesterday the scam pulled both its websites and disabled its app, leaving investors in the dark. [Continue reading…]

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

CapitalX’s website domain (“capitalx.pro”), was privately registered on March 7th, 2023. CapitalX marketing videos on their website feature dubbed over stock footage.

In an attempt to appear legitimate, CapitalX provides incorporation details for Capital X Limited.

Capital X Limited was incorporated in the UK on March 7th.

In the footer of CapitalX’s website, the company states;

Capital X Limited is a Registered Cryptoasset firm and is registered with the UK Financial Conduct Authority.

A search of the FCA’s publicly accessible database reveals Capital X Limited is not registered with the FCA. It appears CapitalX is attempting to pass off basic incorporation as registration with the FCA.

In any event, 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.

CapitalX also provides a “capital loss protection” document, purportedly procured from Berkshire Hathaway Speciality Insurance.

This document appears to be forged, by way of

• awkwardly placed logos at the bottom
• font size disparity
• spacing inconsistencies and
• no names appearing on the document

For reference I’ve provided a copy of the bogus document below (click to enlarge):

One name we can peg to CapitalX is Alisher Bekmuratov.

Bekmuratov’s name appears as the author for CapitalX’s one-page marketing presentation (right).

I ran a search for Alisher Bekmuratov and came across several hits in Kyrgyzstan, Uzbekistan and Russia. I only have a name to go on so can’t definitively identify CapitalX’s Bekmuratov, but it’s clear it’s an Eastern European name.

This suggests whoever is running CapitalX has ties to eastern Europe.

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…]

Björn Strehl, OneCoin founder Ruja Ignatova’s ex-husband, has been charged with money laundering.

German prosecutors from Darmstadt have completed their investigation into Strehl. Their findings have now been forwarded to Darmstadt’s Regional Court. [Continue reading…]

The ClickLancers Ponzi scheme has collapsed.

Following a switch to weekly withdrawals on May 1st, ClickLancers pulled its website sometime over the past 24 hours. [Continue reading…]

Bulgarian crimelords and their associates are targeting whistleblower journalists exposing links between OneCoin, Bulgarian organized crime and local authorities.

Instead of investigating OneCoin and the ongoing criminal activities surrounding the Ponzi scheme, Attorney General Ivan Geshev frames whistleblower reports as “an alleged plot to incriminate him and high-ranking magistrates and police officers”. [Continue reading…]

The HyperMood Ponzi scheme has collapsed.

Withdrawals were disabled on May 4th, after a “black hole” fairytale exit-scam news update. [Continue reading…]

The Receiver representing EmpiresX in Florida, has submitted a proposed settlement to the SEC.

The settlement is before the SEC’s Commissioners, who typically take 6 to 8 weeks to accept or reject. [Continue reading…]

The QZ Asset Management Ponzi scheme has collapsed.

Withdrawals were disabled on or around May 1st, under the ruse of an “SEC audit” exit-scam. [Continue reading…]

The LedgerBlock Ponzi scheme has collapsed.

Investors, primarily from Sri Lanka, are reporting withdrawals were disabled mid April.

Three weeks later they remain disabled, although LedgerBlock’s website remains up to lure new victims in. [Continue reading…]

Earlier today a reader sent in a tip suggesting Vortic United’s Jensen Robles was German national Rene Schwarze.

At first I wasn’t convinced. They looked similar but it was difficult to make a call.

I left it there but eventually curiosity got the better of me and I began pulling at threads.

As it stands I’m about 97% convinced Jensen Robles is Rene Schwarze. I also believe I’ve uncovered a Russian organized crime syndicate.

We’ll get into who Rene Schwarze is and the Russians in a bit. First off, here’s all the supporting evidence I was able to put together. [Continue reading…]