MBI’s Teddy Teow wanted for $83 million Macau scam

Malaysian authorities arrested MBI International founder Teddy Teow in June 2017.

He was arrested again by Malaysian authorities in May 2018.

Despite facing charges leading to at least five years in prison… Teow was released on bail and, you guessed it, promptly fled to Macau.

We know this because Teow is now wanted in Macau in relation to a $83 million dollar money laundering scam. [Continue reading…]

QubitTech securities fraud warning issued in Spain

Spain’s Comisión Nacional del Mercado de Valores has issued a securities fraud warning against QubitTech.

As per the CNMV’s January 11th warning, QuibiTech [Continue reading…]

EvoRich Review: Skyway Capital Ponzi spinoff bumbles along

EvoRich is a spinoff of the long-running Russian Ponzi scheme, Skyway Capital.

Heading up EvoRich is Andrey Khovratov (aka Andrii Khovratov, Andrei Khovratov), a former Skyway Capital executive.

Khovratov is/was part of Skyway Capital’s inner-circle. In 2017 Khovratov filed a defamation lawsuit against a Russian media outlet on behalf of Skyway Capital.

He lost the case.

In July 2017 Khovratov threatened another media outlet in Crimea after they published an article critical of Skyway Capital, bringing up Anatoly Yunitskiy’s own unsuccessful lawsuit against a Belarus media outlet.

Yunitskiy put Khovratov in charge of Skyway Capital’s transition to cryptocurrency in 2017.

The man on the right in the screencap above is Anatoly Yunitskiy, the founder of Skyway Capital.

Skyway Capital was initially going to launch Skyway tokens. As the months and years dragged on however, those plans changed to CryptoUnits.

BehindMLM first documented Skyway Capital jumping on the crypto Ponzi bandwagon in March 2019.

In line with Skyway Capital creating dozens of shell companies to run each ruse they come up with, eventually NEEW was introduced.

NEEW stands for “New Economic Evolution of the World” and, as the base of Skyway Capital’s crypto fraud efforts, Yunitskiy appointed Andrey Khovratov as Founder and CEO.

In February 2020 Skyway Capital announced it was ditching NEEW. The company, now presented as a fully standalone opportunity, was handed over to Khovratov to run independently.

At least that’s what happened on paper. A few scenarios come to mind:

  • Yunitskiy and Khovratov had a disagreement/fight and decided to split;
  • Khovratov and Yunitskiy reached a backroom agreement through which Khovratov paid Yunitskiy for permission to run NEEW as a standalone company; and/or
  • Yunitskiy had had enough of NEEW going nowhere and wanted to create a new Ponzi ruse to keep Skyway Capital going, so ditching NEEW was in his best interest.

Take your pick.

The “official” reason given is, despite NEEW being just one of many Skyway Capital’s shell companies that Khovratov was appointed internally to run, that the two companies were always separate and this was just the end of a contractual partnership.

Hardly convincing given evidence of Khovratov being a Skyway executive dating back to the Ponzi scheme’s launch in 2011.

But hey, since when have Ponzi backstories had to hold up to scrutiny?

After the Skyway exit-scam, Khovratov rebranded NEEW as “Academy of Private Investor Opportunity” (I’m assuming that sounded less hokey in Russian).

This coincided with a NEEW scam warning issued in New Zealand in June 2020.

Academy of Private Investor Opportunity seems to have lasted till the fourth quarter of 2020, during which EvoRich was introduced.

EvoRich is another rebranding. Perhaps there’ll be another one in a few months. Who knows.

As with Skyway Capital Khovratov runs EvoRich through a series of shell companies, the most prominent of which is UGPay Group AG, a Swiss shell company.

Khovatov himself is based out of Belarus, Ukraine and/or Russia. They don’t get into specifics.

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

Traffic Monsoon claim objection notices sent out

The Traffic Monsoon Receiver has advised claim objection notices have been sent out.

The announcement was made via a recent update on the Traffic Monsoon Receivership website. [Continue reading…]

BitRobot collapses, hackers out exit-scamming admin?

The BitRobot Ponzi scheme has collapsed.

In a departure from the usual exit-scam though, hackers are claiming to have taken over BitRobot’s website. [Continue reading…]

WorldVentures’ bankruptcy scalps two execs (maybe not?)

WorldVentures’ Chapter 11 bankruptcy has seen two executives quit the company.

Last week WorldVentures COO Michael Poates announced the departure of CSO Eddie Head, and SVP of Global Sales Justin Call. [Continue reading…]

Longrich Review: Whacky products Chinese pyramid scheme

Longrich’s presented corporate structure is confusing.

The company markets itself as “Longrich America Int’, Inc.”, but also claims to be a ‘leading company which dominates the cosmetic industry in southern China.’

In July 2009, the Ministry of Commerce of the direct selling industry management information systems announced that Jiangsu LONGRICH Bio-Science Co., Ltd has officially obtained the China’s direct selling license.

Within that year, Longrich was selected as the “Top Ten Profitable Enterprises in Cosmetics Manufacturing Industry”.

Longrich as a non-MLM company has been around since 1986.

Founded in 1986, our company has seen steady growth in its market share and expansion that makes us today one of the most successful private companies.

Our trademarks have been registered in 183 countries and our products are sold in more than 50 countries and regions around the world including Malaysia, Taiwan, Hong Kong, Singapore, Nigeria, Ghana, Gabon, South Africa, Cameroon, Russia, Ukraine, South Korea, Thailand, Philippines, United Arab Emirates as well as the United States.

On Longrich’s website a suite address in Cerritos, California is provided. Google Maps shows the address is a shared use office building.

Longrich’s marketing videos show a “town” in China. The company’s official YouTube channel sits abandoned for four years.

Corporate staff detailed on Longrich’s website include Zhiwei Xu and Sean Xu.

Zhiwei Xu (right) is credited as Chairman of Jiansu Longliqi Biosceince, which appears to be Longrich’s trading name in China.

As per Xu’s corporate bio, he has ties to the Chinese government and is dubbed ‘the most influential man in China’s cosmetic industry’.

No information with respect to Longrich is provided.

Sean Xu’s Longrich corporate bio is a marketing pitch for the company itself. No information about Xu or his business experience is provided.

According to his LinkedIn profile, Xu (right) is also “HRD” (Human Resources Director?) at Jiansu Longliqi Bioscience.

I did try searching out independent information on both Xus. Unfortunately their names are too generic and I suspect language-barriers didn’t help.

The only photos of the pair that seem to exist are two shots used in Longrich marketing.

In 2016 Longrich Botswana collapsed, resulting in “millions of Pula” in losses.

In April 2019 the Bank of Namibia outlawed Longrich, finding it to be an “illegal financial scheme”.

The Bank hereby declares Longrich as an illegal financial scheme exhibiting undesirable practices.

The sale of Longrich products is not mandatory. The marketing strategy focuses mainly on the recruitment of new members as the primary source of income, as opposed to the sale of Longrich products.

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

Traffic Monsoon default judgment granted ($2.5 mill)

Following a motion request for default judgment filed last April, the SEC has secured a $2.5 million default judgment against Trafffic Monsoon.

The judgment also applies to owner and operator Charles Scoville. [Continue reading…]

Second Russian Questra World admin extradited to Kazakhstan

Back in August 2020 Russian Questra World admin Olga Kleynardtıñ (aka Olga Kleinard), was extradited from Belarus to Kazakhstan.

There she faces charges of organizing “one of the largest financial pyramids” in Kazakhstan’s history. [Continue reading…]

MTI leader Joel Santiago has an epic meltdown

A recording of a late December Mirror Trading International leaders zoom meeting has emerged.

In the wake of MTI’s collapse, top US investor Joel Santiago has an epic meltdown. [Continue reading…]