The FTC website entry for its IM Mastery Academy case has updated.

What we now know is the entry pertains to a petition to quash a civil investigative demand issued by the FTC. [Continue reading…]

Zeek Rewards’ Robert Craddock has reemerged as the owner, CEO and President of NFT Rewards.

NFT Rewards Team is an MLM crypto Ponzi combined with selling of virtual shares. Before we dive deeper into that though, it’s important to recap on who Robert Craddock is. [Continue reading…]

The FTC appears to have prematurely revealed it has launched a consumer protection enforcement action against IM Mastery Academy. [Continue reading…]

The EminiFX Receiver has filed a report pertaining to the “financial condition” of the EminiFX Receivership.

The good news for victims of the Ponzi scheme is “the bulk of the EminiFX assets” have been recovered. [Continue reading…]

France’s Autorite des Marches Financiers has added Mainet to its blacklist for securities fraud.

The AMF has added two Mainet related website domains to its blacklist: [Continue reading…]

An Arizona court has ruled Success by Health was a pyramid scheme.

Having now considered the disputed evidence in its capacity as finder of fact, the Court concludes that the FTC should also prevail on its pyramid scheme claim as to SBH.

The decision marks the first significant MLM related win for the FTC since the Supreme Court’s AMG ruling in 2021. [Continue reading…]

A third individual has been charged in connection to the “Mike G Deal” investment scheme.

Bryan Lee was indicted under seal on May 15th. Sometime between May 16th and May 19th Lee was arrested, leading to the unsealing of the indictment on May 18th. [Continue reading…]

Rain International and Christina Rahm Cook have settled a lawsuit pertaining to Cook’s claimed credentials.

As part of the settlement, Cook’s counterclaims against Rain have also been settled. [Continue reading…]

As part of a massive 131 judgment, the Arizona court hearing the FTC’s case has held the Success by Health Defendants liable of evidence spoliation. [Continue reading…]

Carnelian12 fails to provide ownership or executive information on its website.

Carnelian12 operates from two known website domains:

1. carnelian12.net – privately registered on February 20th, 2023
2. c12.net – first registered in 1999, private registration last updated on May 4th, 2023

In an attempt to appear legitimate, Carnelian12 provides an incorporation certificate for “C12 Trading & Services Limited”.

C12 Trading & Services Limited is represented to have been incorporated in Hong Kong on March 29th.

C12 Trading & Services Limited is a Hong Kong-based entity, founded by the tech team lead Andreas Garcia & Partners.

For the purpose of MLM due-diligence, basic incorporation in any jurisdiction is meaningless. This is due to the ease with which scammers are able to register shell companies with bogus details.

Furthermore, “Andreas Garcia & Partners” doesn’t exist outside of Carnelian12’s website.

As of April 2023, SimilarWeb tracked top sources of traffic to “carnelian12.net” as the US (33%), South Africa (14%), Spain (9%) and Italy (8%).

Top sources of traffic to “c12.net” are the US (16%), Germany (13%), Russia (10%), Brazil (9%) and Spain (8%).

The Central Bank of Russia issued a Carnelian12 pyramid fraud warning on May 2nd, 2023.

Although not definitive, this suggests Russian scammers might be behind Carnelian12.

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…]