Jan Gregory’s Ponzi partnerships are collapsing.

On May 30th Gregory informed investors he was abandoning Maxpread Technologies.

Meanwhile CoinMarketBull withdrawals haven’t been paid for two weeks. [Continue reading…]

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

“Babylon Solutions Limited” is presented as Remitano’s parent company, but no information other than the company name is provided.

Remitano’s website domain (“remitano.com”), was first registered in 2014. The private registration was last updated in January 2018.

As of April 2023, SimilarWeb tracks top sources of traffic to Remitano’s website as Vietnam (71%), Nigeria (8%) and the US (5%).

Remitano being primarily active in Vietnam can be attributed to its founders, Phuong Nguyen, Dung Huynh, Phuoc Nguyen and Tam Vo being Vietnamese nationals.

Nguyen’s and Huynh’s respective LinkedIn profiles make no mention of Remitano, which is odd.

They do mention Quoine though, which appears to be where Nguyen and Huynh met.

Quoine was a Japanese cryptocurrency trading platform with an office in Vietnam.

Remitano is also a cryptocurrency trading platform, with Quoine the obvious inspiration behind it.

Beyond being able to identify Remitano’s co-founders, there is scarce little information about them available.

This is likely due to Remitano operating illegally, which we’ll cover in the conclusion of the review.

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…]

Safe Trust fails to provide ownership or executive information on its website.

Safe Trust’s website domain (“safe-trust.net”), was privately registered on March 30th, 2023.

In an attempt to appear legitimate, Safe Trust provides an incorporation certificate for “Safe Trust Wealth LTD”.

Safe Trust Wealth LTD was purportedly incorporated in New Zealand on March 30th. This ties into Safe Trust claiming to be “a financial advisory practice with office in New Zealand”.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.

This is emphasized in Safe Trust’s marketing presentation, which states;

SAFE TRUST IS A GLOBALLY RESPECTED AND RESPONSIBLE INVESTMENT FUND INSTITUTION INCORPORATED IN NEW ZEALAND AND GOVERNED BY THE LAWS AND RULES OF THE NZ SECURITIES AND EXCHANGE COMMISSION.

There is no “New Zealand Securities and Exchange Commission”. Securities in New Zealand are regulated by the Financial Markets Authority.

Beyond shell incorporation, it is unlikely Safe Trust has any actual ties to New Zealand.

In Safe Trust’s website source-code we find reference to WealthPool.

WealthPool is a daily returns crypto Ponzi scheme launched in late April 2023.

WealthPool’s marketing videos are robodub narrated, which is typical of non-native English speaking admins.

WealthPool pretends to be based out of the UK and appears to have already collapsed.

The same scammers behind WealthPool are behind Safe Trust.

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…]

The FTC hopes a recent victory against Success by Health will factor into a pending decision in litigation against Neora. [Continue reading…]

ETF Pool fails to provide ownership or executive information on its website.

ETF Pool operates from two primary website domains:

1. etfpool.io – privately registered on March 17th, 2023
2. etfpool.ai – privately registered on May 16th, 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…]

IDGA Sam’s Club fails to provide ownership or executive information on its website.

IGDA Sam’s Club’s website domain (“igda-samsclub.com”), was privately registered on May 5th, 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…]

Despite being wanted by US authorities, Lado Okhotnikov continues to run his MetaForce Ponzi scheme from Georgia.

The original MetaForce was a clone of Okhotnikov’s Forsage Ponzi schemes. MetaForce V1 lasted a few months before collapsing.

MetaForce’s reboot (technically the 7th Forsage launch), includes a new token and metaverse and NFT grifts.

After flogging MetaForce NFTs to what’s left of his Forsage following, on May 22nd Okhotnikov announced he was dropping them for a new version.

And in the process, blocking a substantial number of investors from transferring their NFTs over. [Continue reading…]

The NewAge Liquidator has sued NewAge’s former executive team for “substantial harm”.

The Defendants … brought financial devastation to the Company through their grossly negligent, reckless, and/or willful abdication of their fiduciary obligations and other unlawful conduct.

Named Defendants in the NewAge Liquidator’s May 31st Complaint include: [Continue reading…]

Prolific Ponzi promoter Juan Carlos Reynoso has been released from custody.

Mexican authorities were ordered to release Reynoso and his accomplices on June 1st. [Continue reading…]

Global Affiliate Business has been shut down in India.

Indian authorities estimate the scam duped victims out of around $15 million. [Continue reading…]