LEO withholds commissions, Dan Andersson confirms Ponzi scheme

LEO owner and CEO Dan Andersson has announced existing commission balances are being held hostage, pending new investment from recruited affiliates.

Andersson’s announcement was made in a “Special Global Associate Meeting”, held yesterday. [Continue reading…]

CMDX dumped from only public exchange following audit

In a desperate bid to legitimize his CMDX Ponzi scheme, owner Tom McMurrain has been talking up public trading on the OpenLedger exchange.

Those negotiations seem to have gotten as far as OpenLedger allowing deposits in CMDX, but as far as I can tell no actual public trading took place.

Now OpenLedger has announced it’s pulling the plug on CMDX support. [Continue reading…]

John Barksdale held in Bangkok while authorities investigate Ormeus

A new report from the Daily Mail has confirmed John Barksdale remains in custody while authorities investigate.

Barksdale was arrested in connection with his Ormeus Global Ponzi scheme. [Continue reading…]

Credit Star Funding Review: Borrow $250K to invest in Ponzi schemes

Credit Star Funding is owned and operated by CEO Riccardo Ferrari, who claims to be based out of California in the US.

Credit Star Funding’s business model is simple; the company pitches a promise to get its affiliates funded.

Once funded, Credit Star Funding affiliates are expected to plough their loan into “non-collateral funding and Artificial Intelligence income systems.”

And by that Credit Star Funding is referring to Ponzi schemes. More on that later. [Continue reading…]

52 QNet scammers deported from Ghana

A report covering deportation of criminal from Ghana has revealed QNet “employees” are among those deported. [Continue reading…]

John Barksdale arrested in Thailand over Ormeus Global fraud

Authorities in Thailand have arrested serial scammer John Barksdale.

Barksdale is primarily known as the owner of the collapsed Ormeus Global Ponzi scheme.

Barksdale was arrested in Bo Put, Samui District, on a Bangkok warrant back on July 8th. [Continue reading…]

Wssavior Review: 1000% every 40 days Ponzi returns

Wssavior provides no information on its website about who owns or runs the company.

Wssavior’s website domain (“wssavior.com”) was  registered on April 5th, 2018.

Eva Kozma is listed as the owner, through an address in the UK shared with multiple businesses.

No connection between Eva Kozma and Wssavior exists outside of the domain registration.

Given this, it’s highly likely that Kozma doesn’t exist.

On their website Wssavior provide a UK incorporation number that corresponds with WSSH LTD.

UK incorporation is dirt cheap and for the most part unregulated. It is a favored jurisdiction for scammers looking to incorporate dodgy companies.

Furthermore there doesn’t appear to be any verifiable connection between Wssavior and WSSH LTD.

On its website Wssavior also claims to have “started” in September 2014.

This is bogus, as the company’s website domain was only registered in April 2018.

Wssavior’s official Twitter account went live in July 2018, which is likely around the time the company actually launched.

WSSH LTD’s UK corporate filings date back to August 2014, which appears to be the basis of the “start” date on Wssavior’s website.

It’s highly likely that Wssavior has just using the details of a an existing unrelated UK company.

The UK is notorious for failing to regulate its corporate records.

At the time of publication Alexa ranks Argentina (19%), Russia (13%) and Iran (12%) as the top three sources of traffic to Wssavior’s website.

Based on Wssavior having an active Russian language VK social media account, it’s highly likely that whoever owns Wssavior is from Russia itself.

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…]

NovaTech Review: N-Tech trading bot Ponzi scheme

NovaTech provides no information on their website about who owns or runs the business.

NovaTech’s website domain (“novatechfx.io”) was registered on June 17th, 2019.

NovaTech LTD is listed as the owner, through what appears to be a bogus incomplete address (Vatican City).

On its website NovaTech claims to be “registered in the USA, British Virgin Islands and Estonia”.

No specific details are provided which, when combined with the bogus domain, leads me to believe these claims are false.

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…]

MOBE litigation stayed, Synovus & QualPay intervention reset

Following a hearing held on August 2nd, MOBE case proceedings have been stayed for 90 days.

The request for a stay was made last week, amid ongoing settlement negotiations between MOBE owner Matt Lloyd McPhee and the FTC. [Continue reading…]

Abundance Network to relaunch with pyramid scheme model

Following the collapse of its original gifting model, Abundance Network is set to relaunch as a pyramid scheme. [Continue reading…]