ToucanWin operates in the penny auction MLM niche. The company doesn’t provide a corporate address on its website.

Heading up ToucanWin are co-founders Kelley Foote (CEO) and Don Fiechter.

Kelley Foote appears to have made a name for himself in Bellamora back in the day.

Bellamora shut down in 2011, after which Foote spent nearly a decade on various gaming ventures (non-gambling).

Don Fiechter doesn’t appear to have an MLM history. Instead he’s credit with a thirty-two year history in the gaming and casino industry.

ToucanWin doesn’t provide a corporate address on its website. What we do know is, based on their respective LinkedIn profiles, Foote and Fiechter are based out of Missouri and Arizona respectively.

Foote’s LinkedIn profile represents ToucanWin was founded in January 2022. The company doesn’t actually appear to have launched though until September to November 2022.

Read on for a full review of ToucanWin’s MLM opportunity. [Continue reading…]

Apex376 Partners fails to provide ownership or executive information on its website.

Apex376 Partners’ website domain (“apex376partners.com”), was registered on March 31st, 2022. “Apex Partners” is listed as the domain owner, through a random address in New York.

Further to that address, Apex376 Partners stakes its legitimacy on a purported New York incorporation.

Apex 376 Partners LLC Registered In New York Under Number 5947673, In Partnership With Top-Tier Expertise Registered With The SEC In The USA.

This DOS ID corresponds to Apex 376 Partners LLC, a New York shell company incorporated back in February 2021.

Considering this predates registration of Apex376 Partners’ website domain by over a year, and that Apex 376 Partners LLC hasn’t made any filings beyond its initial incorporation, it’s highly unlikely Apex376 Partners has anything to do with the New York shell company.

It appears the scammers behind Apex376 Partners has misappropriated the name of the New York shell company.

In any event for the purpose of MLM due-diligence, shell incorporation in any jurisdiction is meaningless.

One thing that initially threw me were social media profiles created for “Aaron Joseph Ellebrecht”.

These Ellebrecht profiles have been created again to give Apex376 Partners credibility.

The profiles look convincing enough and are backdated with numerous posts and photos.

The problem is Ellebrecht doesn’t exist.

The scammers behind Apex376 Partners have stolen the identity of PM International founder and CEO Rolf Sorg.

This is probably why Ellebrecht doesn’t feature on Apex376 Partners’ website.

Coordination of Apex376 Partners affiliates appears to primarily take place on a private FaceBook group:

The group is managed through three bogus/stolen FaceBook accounts.

Through SimilarWeb, we can see that, despite Apex376 Partners being initially set up around March 2022, the company only actually launched last month:

If I had to guess, Apex376 Partners was supposed to launch on or around May 2022. That was the same month Terra and Luna collapsed, dragging down the entire crypto market with it.

Apex376 Partners was likely put on ice, only to relaunch roughly a year later.

As of January 2023, SimilarWeb tracks 100% of Apex376 Partners website traffic as originating from Malaysia.

Given this is the launch month, I’m confident in whoever is behind Apex376 Partners also being from Malaysia.

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…]

AMZDoge surfaced on or around September 2022.

The scheme operated both as AMZDoge and GeoDoge, operating from two primary domains:

• geodoge.com – private registration last updated on December 12th, 2022
• amzdoge.com –  privately registered on September 14th, 2022

Following AMZDoge’s collapse earlier this month, both previously accessible websites have since been disabled. [Continue reading…]

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

In fact, as I write this, HyperCosmos’ website is nothing more than an affiliate login or signup form.

HyperCosmos’ website domain (“hypercosmos.net”), was registered on November 8th, 2022.

Caden Li is listed as the owner, through a resort address in Dubai. The same details were used to register Hyperverse’s and HyperNation’s website domains.

Whether there’s an actual link between HyperCosmos and the previous Hyper* Ponzi schemes however is unclear. It’s entirely possible whoever is behind HyperCosmos just copy and pasted the domain registration details.

What we can confirm is HyperCosmos is intentionally targeting Hyperverse victims.

The Hyper* series of Ponzi schemes dates back to HyperCash, a collapsed Ponzi scheme launched in 2017.

HyperCash was followed by HyperCapital. HyperCapital was followed by HyperFund. And HyperFund was followed by Hyperverse.

By the time Hyperverse launched in late 2021, the Hyper* series of Ponzi schemes was beyond recovery. Simply put: There was nobody left to scam.

Despite the complete failure of Hyperverse, its collapsed still spawned off two reboots; HyperOne and HyperNation.

SimilarWeb tracks a few hundred thousand hits a month to HyperNation’s website. HyperOne is dead.

Up until HyperOne and HypverNation, the Hyper* Ponzi schemes were run by Sam Lee (Australia) and Ryan Xu (Australia/China).

Both Xu and Lee fled to Dubai in early 2021. Safe in the MLM crime capital of the world, Sam Lee has been trying to get his StableDAO Ponzi scheme off the ground.

I can’t rule out Lee’s involvement in HyperCosmos, but it seems unlikely seeing as HyperCosmos and StableDAO launched around the same time.

Ryan Xu hasn’t been seen in public since Hyperverse collapsed towards the end of 2021. Whether Xu is involved in HyperCosmos is unclear.

My gut feeling is no. HyperCosmos is probably the same group of scammers running HyperOne and/or HyperNation.

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…]

One of the common misconceptions with MLM receiverships in the US is that they work to keep funds for themselves.

In reality, where recovery is possible, the vast majority of recovered assets are paid out to victims of the scheme.

This process typically ties into a regulatory lawsuit and is broadly overseen by the courts.

Over in South Africa and pertaining to the $1.7 billion Mirror Trading International Ponzi, regulators and local authorities continue to do nothing.

This prompted civil court proceedings, which saw liquidators put in charged of Mirror Trading International post-collapse.

This was back in mid 2021. While we know the majority of funds invested into MTI went to the Marks crime family and top promoters, recovery efforts are and continue to be bleak.

Of the $1.7 billion MTI took in, only around $60 million has been recovered. [Continue reading…]

Vbit Technologies, a collapsed MLM crypto Ponzi, has attracted the attention of Montana’s state securities regulator. [Continue reading…]

As its legal advisor, Hector Luis Yrimia was an integral part of Leonardo Cositorto’s Generation Zoe Ponzi scheme.

Hector Luis Yrimia fled to Dubai as Generation Zoe began collapsing in late 2022.

After Argentinian authorities issued an international arrest warrant, raided his properties and seized assets, Yrimia turned himself in to Interpol’s Dubai branch.

Argentinian authorities are reported to have put in three extradition requests for Yrmia with Dubai’s authorities.

To date they haven’t received an answer to any of the requests.

Despite being wanted by Interpol, Yrimia meanwhile managed to secure Dubai residency.

Trouble is, living in Dubai isn’t cheap. And what Yrimia squirreled away from Generation Zoe isn’t going to last forever.

This brings us to the Futswap. [Continue reading…]

Michael Glaspie, a serial promoter of fraudulent MLM schemes, has pled guilty to wire fraud.

Glaspie’s criminal case stems from his promotion of the “Mike G Deal”, which the DOJ confirmed was a $55 million “investment fraud scheme”.

At time of publication Glaspie’s criminal case has yet to appear on PACER. Nonetheless details of Glaspie’s case and guilty plea are detailed in a February 23rd DOJ press-release; [Continue reading…]

Last last week BIRD, the Bureau for Investigative Reporting and Data, published an article suggesting Ruja Ignatova was murdered in 2018.

It’s a well researched theory and supported by documents linked to law enforcement.

Here’s why I think it doesn’t hold up. [Continue reading…]

The NBH Finance Ponzi scheme has collapsed.

In doing so, the scammers behind it have pulled a rather bizarre stock exchange exit-scam. [Continue reading…]