The Onewiex Ponzi scheme has collapsed.

Earlier today Onewiex’s website went down. Onewiex has also deleted its YouTube, FaceBook, Instagram and Telegram accounts. [Continue reading…]

GMB Group (aka GMB eCommerce), fails to provide credible ownership or executive information on its website.

GMB Group does provide executive details, however these are fictional names represented by stock photos:

Known GMB Group website domains include:

• gmbapp.org – privately registered on April 27th, 2023
• gmbapp.shop – privately registered on May 24th, 2023

Despite only existing for a few months, on its website GMB Group falsely claims it “was established in Denver, USA” in 2018.

To support its fictional backstory, GMB Group provides incorporation certificates for GMB E-Commerce Co. Ltd for Colorado.

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.

Aside from paying a small fee to register a shell company there, GMB Group is unlikely to have any actual ties to the US.

Supporting this is GMB Group’s oddly named official FaceBook Group:

This suggests GMB Group is being run by a non-native English speaker. And if we look at GMB Group’s website source-code, sure enough we find Chinese:

This suggests whoever is actually running GMB Group has ties to China.

Marketing wise GMB Group appears to primarily be targeting the Netherlands.

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…]

Rich Net Global fails to provide verifiable ownership or executive information on its website.

Rich Net Global does provide both Board of Directors and executive management details, however provided profiles are fake names combined with stock photos:

Rich Net Global’s website domain (“richnetglobal.net”), was privately registered on February 23rd, 2023.

In an attempt to appear legitimate, Rich Net Global provides an incorporation certificate for Rich Net Global LTD.

Rich Net Global LTD was incorporated in the UK on July 7th, 2023.

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.

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…]

Clynton Marks and accomplices Henri Honiball and Cecil Rowe filed an appeal against the High Court of South Africa’s “Mirror Trading International was an illegal and unlawful scheme” ruling.

The ruling, handed down earlier this year in April, paved the way for criminal proceedings and Liquidators going after Marks and co. [Continue reading…]

OMD (aka OMDCZ) fails to provide ownership or executive information on its website.

OMD’s website domain (“omdcz.com”), was privately registered on May 29th, 2023.

If we look at OMD’s website source-code, we find Chinese:

This suggests whoever is running OMD 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…]

A CashFX Group criminal investigation has been confirmed on the UK Police Major Incident Public Reporting Site.

As spotted by Harry Page of the FaceBook Group “CashFX (in association with EverFX) Scam – Now What!?“, Essex Police appear to be leading the investigation. [Continue reading…]

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

BitArbi’s website domain (“bitarbi.com”), was registered with bogus information on July 31st, 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…]

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

Prostox’s website domain (“prostox.co”), was privately registered on July 12th, 2023.

Of note is Prostox’s sole marketing video featuring a woman with a distinct Indian accent (could also be Pakistan or Bangladesh).

While not definitive, this suggests Prostox is being run by someone with ties to the India, Pakistan and Bangladesh region.

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 claiming it “believes in complete transparency”, BMcontract fails to provide ownership or executive information on its website.

BMcontract’s website domain (“bmcontract.io”), was privately registered on August 15th, 2023.

Despite only existing for about a week, BMcontract claims it

has a track record of providing an exceptional 99% success rate through its AI-driven trading strategies.

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 CFTC has secured a preliminary injunction against the Fundsz Ponzi Defendants.

The preliminary injunction was ordered on August 23rd, following consent motions filed on August 21st and 22nd. [Continue reading…]