The outcome of Michael Glaspie’s SEC civil fraud lawsuit hinges on sentencing in parallel criminal proceedings.

Glaspie was sued by the SEC back in January as a promoter of the Mike G Deal (aka CoinDeal).

Following a lack of updates from the SEC, the court ordered the regulator to “show cause” by August 4th. [Continue reading…]

Following an August 7th filed stipulation, Jay Bennett and Isagenix have agreed to enter mediation.

Isagenix has also filed an appeal against a previously granted preliminary injunction. [Continue reading…]

What is left of the Success Factory pyramid scheme has collapsed.

Over the past week co-CEOs Roald Mailly and Jason Tyne have both announced their bailing on the company. [Continue reading…]

If you’re wondering what happened to Johannes Steynberg following his Brazilian arrest in January 2022, you’re a not alone.

Turns out, rather than extradite Steynberg to the US or South Africa, that Brazilian authorities charged Steynberg with “assuming a false identity”.

As reported by Jan Vermeulen of MyBroadband, Steynberg has been found guilty. [Continue reading…]

CryptoProgram reboot Amsys is experiencing withdrawal delays.

Amsys affiliate payments are believed to have began shortly after the reboot from CryptoProgram (July 2023).

They have continued into August, as confirmed by Scott Morris on August 9th. [Continue reading…]

Ash Mufareh has set the stage for a biblically epic showdown with the SEC.

In a webinar held on Saturday August 12th, Mufareh declared “only God can stop OnPassive”. [Continue reading…]

Ulix7 fails to provide verifiable ownership or executive information on its website.

Ulix7’s website domain (“ulix7.com”), was privately registered on July 22nd, 2023.

Over on YouTube, Ulix7 has a marketing video featuring “Ronald”:

Ulix7 credits Ronald as CEO of the company in the video description and on their website.

Ronald however doesn’t seem to know he’s CEO, and introduces himself only as a “Company Director”.

Ronald of course doesn’t exist. He’s a fictional executive played by UK resident Oliver Haydon (aka Oli Haydon).

Haydon, among other things, is an actor. You can see some of his work at the defunct Pint Sized YouTube channel.

In a further attempt to appear legitimate, Ulix7 provides an incorporation certificate for Ulix Limited.

Ulix Limited was incorporated in the UK on February 14th, 2022.

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…]

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

Atmo’s website domain (“atmo.vip”), was registered on June 16th, 2023.

Atmo Mall Group is listed as the owner, through a redacted address in Hong Kong.

If we look at Atmo’s website source-code, we can see the native language set is Chinese:

Be it mainland China, Hong Kong or Singapore, whoever is running Atmo appears to have 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…]

Christopher Scanlon’s Nvayo Limited has been hit with a number of regulatory restrictions by the FCA.

On August 8th, the FCA imposed six restrictions on Nvayo Limited’s business operations: [Continue reading…]

The CFTC has secured an asset-freeze against Fundsz and owners Rene Larralde, Juan Pablo Valcarce, Brian Early and Alisha Ann Kingrey. [Continue reading…]