Ontario’s Capital Markets Tribunal has handed down a $2.5 million fine to NovaTech FX and Cynthia Petion. [Continue reading…]

Robex AI launched in 2023 as a fraudulent investment scheme that represented it was based out of the UK. Marketing suggested Robex AI also had ties to Dubai, the MLM crime capital of the world.

Robex AI originally solicited $25 to $5000 investments on the promise of a 500% ROI.

With no verifiable source of revenue, Robex AI appeared to be running a typical trading ruse Ponzi.

This was confirmed in October 2024 when Robex AI disabled withdrawals and collapsed.

On or around November 12th, a Robex AI reboot was announced.

Today we’re revisiting Robex AI to take a look at the reboot and see where the Ponzi scheme is a month and a half post-collapse. [Continue reading…]

Stay With You fails to provide ownership or executive information on its website.

Stay With You’s website domain (“staywithyou.vip”), was registered with bogus details on December 15th, 2024.

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…]

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

MemeGames’ website domain (“memegames.ai”), was privately registered on an unknown date.

Through the WayBack Machine however, we can see MemeGames’ published a beta website in or around June 2024.

On December 17th, 2024, serial scam promoter Sal Khan cited Eric J. Dalius as MemeGames’ founder and CEO:

Eric J. Dalius, aka EJ Dalius, is a convicted felon. Dalius pled guilty to criminal charges related to “multi-level marketing fraud” in 2001.

More recently Dalius was sued by the SEC for securities fraud. The SEC’s fraud allegations against Dalius pertained to his collapsed Saivian Ponzi scheme.

Saivian solicited investment from consumers under the guise of generating revenue via selling of receipt data.

The SEC filed suit against Dalius in 2018, alleging Saivian was a $165 million Ponzi and pyramid scheme.

Between October 26, 2015 and September 1, 2017, Saivian raised millions of dollars from Cashback Members in the United States and abroad.

Most of this was misappropriated by Dalius to support a lavish lifestyle for himself and his family.

Contrary to their claims, Saivian did not generate any revenue from the sale of POS receipts.

Instead, Saivian’s revenue was generated almost exclusively from membership sales to Cashback Members themselves.

Like a classic Ponzi scheme, Saivian satisfied promised returns to some investors — in the form of 20% cashback on shopping purchases — through the investments of other investors rather than any underlying, legitimate, commercial activity.

Dalius settled the SEC’s Saivian fraud charges for $24 million in February 2023.

Amid the SEC’s ongoing litigation, Dalius launched MuzicSwipe in 2021.

MuzicSwipe is a music and content discovery platform designed to maximize new music discovery and optimize the artist to fan relationship.

MuzicSwipe appears to have been abandoned in late 2023. MuzicSwipe’s website has since been disabled.

Now, Dalius has reemerged with MemeGames.

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

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

Seokore operates from two known website domains:

1. seosms.com (marketing website) – first registered in March 2023, private registration last updated on December 17th, 2024
2. seokore.com (also h5.seokore.com, app websites) – privately registered on August 3rd, 2024

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 being promoted, as far as I know DEFI Money Club doesn’t yet have a website. Or if it does, it’s not being shared with the public.

Why the secrecy?

On November 16th, 2024, serial scam promoter Sal Khan published a YouTube video citing Daniel Pacheco as DEFI Money Club’s CEO.

In addition to CEO, Khan also cites Pacheco as the “creator of DEFI Money Club”.

Daniel Pacheco, aka Danny Pacheco, made a name for himself circa 2013 as a promoter of the Lucrazon Global Ponzi scheme.

Pacheco would go on to launch his own scam, iPro Network, in 2017.

iPro Network was attached to the ProCurrency altcoin (PROC). iPro Network offloaded pre-generated PROC onto its affiliates, on the usual promises of riches.

On the MLM side of things, iPro Network paid commissions on recruitment of new affiliate investors.

By mid 2018 iPro Network itself had collapsed. In a desperate bid to keep the company going the association was PROC was abandoned (typical MLM altcoin exit-scam).

It was around this time that iThrive Network was announced. iThrive Network dropped iPro Network’s crypto Ponzi to solely focus on “education package” pyramid recruitment.

The SEC sued Pacheco in May 2019, alleging iPro Network was a $26 million dollar pyramid scheme.

 IPro was a fraudulent pyramid scheme. IPro’s inevitable collapse was hastened by Pacheco’s fraudulent use of investor funds, which included, among other things, the all-cash purchase of a $2.5 million home and a Rolls Royce.

Pacheco’s misappropriation accelerated the rate at which IPro became unable to pay the commissions and bonuses due its investors.

Pacheco’s initial response to the SEC’s lawsuit saw him claim he couldn’t be sued, because “the SEC did not suffer any actual damages”.

Pacheco would go on to settle iPro Network fraud claims with the SEC in December 2022. A $2.1 million final judgment was entered against Pacheco in September 2023.

Now, roughly a year later, Pacheco has resurfaced with DEFI Money Club.

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

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

YoCart operates from two known website domains:

1. yo-cart.com (already abandoned) – privately registered on October 22, 2022
2. yocart.articimo.com – first registered in 2003, private registration last updated on December 8th, 2024

If we check the source-code of YoCart’s website support page, we learn it runs on the Meiqia platform:

Meiqia is a Chinese software company based out of Beijing. This suggests whoever is running YoCart 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…]

Following on from Ageeon’s collapse on December 17th, scammers behind the Ponzi have initiated a recovery exit-scam.

On December 26th, 2024, Ageeon sent out a communication advising withdrawals would remain disabled (investors are being strung along with promises of “delayed withdrawals”).

24 hours later Ageeon has also launched a “Premium Account” recovery exit-scam. [Continue reading…]

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

Skypex’s website domain (“skypex.io”), was privately registered on May 8th, 2024.

In Skypex’s website General Terms and Conditions, we find reference to Arthwo LTD, S.A.

The contracting parties for the use of the Services are ARTHWO LTD, S.A., Bella Vista Urbanization, Samuel Lewis Avenue & 55 Street, Panama City in the Republic of Panama.

The cited address is used by many businesses, confirming that Arthwo LTD, S.A. is a shell company.

Supporting this is Arthwo’s website (“arthwo.com”, privately registered on June 5th, 2024), which is both low-effort and incomplete:

It’s the kind of website one would set up to create the illusion of a company without it being so.

Another shell company we can attach to Skypex is SC Consulting Ltd.

We accept payments in various cryptocurrencies through our payment provider, CoinPayments Inc.

For all accounting purposes we have contracted SC Consulting Ltd. as Skypex’s accounting partner.

As per the above, again from Skypex’s General Terms and Conditions, the use of SC Consulting Ltd. appears to be solely to hide Skypex from Coin Payments.

As per its website, SC Consulting Ltd. appears to be a Dubai shell company factory:

We offer an integrative support for one or all stages of your Dubai project. Focused on security, sustainability and quality.

We manage your business in a future-oriented manner, starting with the foundation through to securing the profits financially.

If you do not want to start your own business we will find the right, reliable partner. The cooperation with this can be monitored by us or even taken over.

SC Consulting LTD. offers shell company services in Dubai, Panama, Seychelles and the wider EU. The shady company also offers a “change citizenship” service.

On its website, Skypex misrepresents paid advertising as articles from “the press”:

Clicking through to these articles we learn the face of Skypex is Udo Carsten Deppisch. This is confirmed on Deppisch’s own social media:

Udo Deppisch is a German national who made a name for himself as a top promoter of the OneCoin Ponzi scheme.

Upon finding success scamming people in OneCoin, Deppisch fled Germany for Dubai. Deppisch continued to promote OneCoin with a focus on German-speaking countries.

In April 2017 German authorities began cracking down on OneCoin. Around May that same year Deppisch went underground.

The Ponzi side of OneCoin had already collapsed in January 2017. The pyramid side was what Deppisch continued to promote until mid 2017.

After OneCoin Deppisch hitched his wagon to Anthony Norman’s Wantage One Ponzi mess.

When that didn’t work out Deppisch hitched his wagon to the Crowd1 Ponzi scheme.

Crowd1 began to collapse in 2021, prompting Deppisch to leave the company.

When that didn’t work out Deppisch rejoined Crowd1 in 2022.

The last Crowd1 post on Deppisch’s socials is from April 2024. After a brief period where Deppisch focused on his marketing company, Unlimited Career Development, Skypex launched in October 2024.

Why Deppisch’s involvement in Skypex isn’t disclosed on the company’s website is unclear.

Of note is, although Skypex’s domain registration is private, the state and country are set as Dubai in the UAE. This ties into  Udo Deppisch being based out of Dubai.

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to Skypex, read on for a full review. [Continue reading…]

Tron CFD fails to provide ownership or executive information on its website.

Tron CFD operates from four known website domains; “tron.cfd”, “troncfd.cfd” “troncfd.lat” and “troncfd.sbs”. All four of Tron CFD’s domains were privately registered on October 25th, 2024.

If we look at the source-code of Tron CFD’s websites we find they are localized to Chinese:

This suggests whoever is running Tron CFD 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…]