Bulavita appears to have been sold off to Juuva.

Which is kind of strange, seeing as Bulavita itself is barely a year old. [Continue reading…]

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

CopyProTraders’ website domain (“copyprotraders.com”) was privately registered on October 17th, 2020.

Further research reveals CopyProTraders affiliates citing Antione McBay as founder of the company:

Rather than just be upfront about company ownership, on LinkedIn McBay refers to himself as CopyProTraders’ “servant” (cringe) and Chairman.

Antione McBay seems to have made a name for himself in the early 2000s and 2010s promoting Max International and Momentis.

McBay’s Facebook page has him “from Dallas, Texas”. His LinkedIn profile cites him in Vietnam.

It appears that although McBay is a US citizen from Texas, approximately three years ago he relocated to Vietnam.

McBay’s move to Vietnam saw him get into cryptocurrency fraud, via promotion of BitAnex and E-Platform 365.

BitAnex is some ERC-20 shit token. I wasn’t able to ascertain if there was a separate income opportunity attached to it. I did note it was promoted alongside E-Platform 365.

E-Platform 365 was a daily returns Ponzi scheme operating under the guise of cashback.

After E-Platform 365 collapsed I wasn’t able to ascertain whether McBay continued to promote crypto scams.

At some point he joined QuiAri and was part of “Quiari Team Vietnam”.

McBay was still promoting QuiAri into mid 2020, which leads us to CopyProTraders’ end of year launch.

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

Bedrock Experts provides no information on their website about who owns or runs the company.

Bedrock Experts’ website domain (“bedrockexpert.com”) was privately registered on January 13th, 2021.

In an attempt to appear legitimate, Bedrock Experts provides a UK incorporation certificate on its website.

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

For the purpose of performing MLM due-diligence, UK incorporation 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…]

PrivaFund operates in the cryptocurrency MLM niche.

The company provides executive information on its website, however it’s pretty wonky.

The only name I was able to establish a digital footprint for outside of PrivaFund was Maurice Malherbe, and that’s a YouTube channel with no content created in 2013.

Everything else pertaining to Malherbe appears to be linked to PrivaFund and created in 2021.

PrivaFund’s CEO “Stephen Hardy Rowe” has a lengthy backstory provided – none of it verifiable.

Video footage of Rowe strongly suggests he’s being played by an actor (seriously, who shoots a corporate video at a beach?).

Rowe (right) claims to be living in Thailand, which only strengthens the probability he’s an actor.

In this video, you can clearly see the actor’s eyes darting between the camera and either a script or teleprompter placed just above the camera.

Other red flags include PrivaFund representing it has been around since 2019, and use of basic UK incorporation.

PrivaFund’s website domain was registered in December 2020. The company’s social media profiles were created in January 2021.

Conclusion: PrivaFund didn’t exist until a few months ago.

PrivaFund’s website is hosted in Germany. German is the default language provided for wire transfer instructions in PrivaFund’s backoffice:

Alexa currently ranks its top three sources of traffic to PrivaFund’s website as Australia (25.8%), Russia (18.7%) and the Ukraine (2%).

Not sure what’s going on in Australia but Russia appearing on that list is another red flag.

Finally in an attempt to appear legitimate, PrivaFund provides incorporation details for Privafonds Capital Management LTD. in the UK. Privaxchange OU is supposedly incorporated in Estonia.

PrivaFund’s UK incorporation looks bought off the shelf. The original incorporation for Future 101 is dated November 12th 2019, eleven months before PrivaFund existed.

After purchasing the incorporation, Stephen Harding Rowe was appointed sole Director with bogus filed details on December 14th.

Future 101 was renamed to Privafonds Capital Management on December 17th.

Both the UK and Estonia are scam-friendly jurisdictions, with Estonia being a particular favorite of crypto scammers.

Beyond acknowledging that basic incorporation is not a substitute for registering with financial regulators, UK and Estonia incorporation should be ignored for the purpose of due-diligence.

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…]

Finiko has introduced its own Ponzi token, paving the way for its inevitable exit-scam.

Finiko, launched in Russia in mid 2019 and then internationally in 2020, had been soliciting investment into CFR Ponzi points.

That introduction of FNK tokens has seen that model collapse. [Continue reading…]

We last checked in on the GTI-Net Ponzi scheme back in April 2019.

At the time the Ponzi scheme had just rebooted as Global Technologies & Innovation.

The reboot came after GTI-Net lost an appeal against Belgium’s FSMA financial regulator. [Continue reading…]

Blockchain Capital operates in the cryptocurrency MLM niche.

The company provides a corporate address in St. Vincent and the Grenadines on its website.

The address belongs to Wilfred International Services, who provide “International Business Formation” (shell companies) and a virtual office address service.

Needless to say Blockchain Capital exists in St. Vincent and the Gernadines in name only.

Blockchain Capital actually appears to be run from Russia.

Supporting this is Kazan, Russia provided as a posting location on Blockchain Capital’s official Twitter profile (lit: Казань, Россия).

Blockchain Capital has a VK profile. vKontakte is a Russian social media Facebook clone.

Marketing videos on Blockchain Capital’s official YouTube channel are primarily in… you guessed it, Russian:

Blockchain Capital’s website source-code is also riddled with Russian:

Heading up Blockchain Capital are co-founders Zinnat and Arthur Husnullin.

No information about either Husnullin is provided on Blockchain Capital’s website.

I went looking for independent information and came up blank. This could be a language barrier but neither Zinnat or Arthur Husnullin appear to exist outside of Blockchain Capital.

Both Husnullins feature in Blockchain Capital’s marketing videos.

Arthur seems to know what he’s talking about but Zinnat comes across as a Boris CEO.

Blockchain Capital’s website domain (“blockchaincapital.pro”), was privately registered in October 2017.

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…]

After failing to respond to the FTC’s filed complaint, Digital Income System defendants Brandon Frye and Kaitlyn Scott have received default judgment orders.

Frye is up for $600,000, Scott for $171,500. [Continue reading…]

The Six Sigma Trade Ponzi scheme has collapsed.

The company’s website is still up however all of its YouTube marketing videos have been deleted. [Continue reading…]

Back in late 2019 CashFX Group held a “Grand Launch” event in Panama.

Present at the event were CashFX Group’s supposed traders; Hildo Emerenciana, Javier Leito, John Wilson and John Loefstop.

The above is what CashFX’s “about” page on its website looked circa January 2020.

When people started asking questions, CashFX Group removed all executive information from its website.

Hosting the Panama event was Edwin Abad, CashFX Group’s VP Trading of Operations [sic]. [Continue reading…]