The NexusICO Ponzi scheme has collapsed.

Withdrawals have been disabled and NexusICO has locked down its social media profiles. [Continue reading…]

Zylo Trade has received a securities fraud warning from the British Columbia Securities Commission.

As per the BCSC’s April 27th warning; [Continue reading…]

As part of civil liquidation proceedings, the High Court of South Africa has ruled Mirror Trading International was a Ponzi scheme. [Continue reading…]

The CFTC has secured a $3.4 billion default judgment against Mirror Trading International CEO Johannes Steynberg.

The judgment makes Mirror Trading Trading International the biggest CFTC fraud case ever involving bitcoin.
[Continue reading…]

Earlier this week we reported on the arrest of BitRobot admin Claude Barthelemy.

BehindMLM can now confirm Arnaud Racine’s arrest in Belgium. [Continue reading…]

Three Californian Plaintiffs have sued Premier Financial Alliance for alleged violations of Californian Labor Law. [Continue reading…]

Mitotic Money has received a pyramid fraud warning from the Central Bank of Russia.

As per the CBR’s February 7th, 2023 warning, Mitotic Money exhibits “signs of a financial pyramid”. [Continue reading…]

Tava, owner Terry LaCore and CEO Kenny Lloyd have been sued for copyright infringement.

Plaintiff Sonja Williams also accuses several Tava defendants of running a pyramid scheme.

Tava’s founders, Kenny and Chante Lloyd … bill Tava as “a safe haven for everyone,” without further explanation, and have the gall to promote Tava as “not just different, [but also] real” in various places on its online and social media presence.

In reality, Tava is no safe haven; rather, Tava is a predatory pariah peddling religion and faith laden promises of wealth by dangling the success of its founders Kenny and Chante Lloyd as attainable, while nickel and diming Associates and their networks all the way.

LaCore and his cronies (select few, like Kenny and Chante Lloyd) alone make millions of dollars atop multiple pyramids while the companies’ sellers and consumers pay the tab.

Oh my… [Continue reading…]

GSPartners and 52 website domains associated with it have received securities fraud warnings from Quebec’s Autorite des Marches Financiers. [Continue reading…]

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

The following individuals are presented as Mitotic Money’s executives:

Fake social media profiles were created for the individuals in mid 2022.

Some effort has gone into making these profiles appear older than they are, but this is easily caught out:

Mitotic Money’s “Leonard Rudd” is actually Cesar Millan from Venezuela.

The actor playing CEO “Thomas Baker” has committed to the role. He appears in several Mitotic Money marketing videos:

These are your usual Boris CEO productions; a rented office with marketing props.

All of the actors in Mitotic Money’s earlier marketing videos have a Latin American accents. This fits with Cesar Millan being from Venezuela.

Boris CEO MLM companies are typically the work of eastern European scammers. To that end we have two marketing videos uploaded on April 6th and 7th, 2023.

“Kate” is represented to be an animator from Ukraine. She speaks in Russian.

“Ron” is an investment banker. He speaks English with an eastern European accent. Both Kate and Ron are obviously actors.

It appears Mitotic Money might have lost its original South American acting team. On April 12th the company uploaded a video portraying a “Russia Crypto Live Event”:

This video features more actors and the event was purportedly shot in Bashkortostan, Russia.

One last thing to note is Mitotic Money’s official FaceBook page is managed from India:

Putting all of this together;

1. Mitotic Money started off with South American actor executives, most likely from Venezuela;
2. Boris CEO scams are usually the work of eastern Europeans, and Mitotic Money’s Russian roots emerged in marketing videos over the past month; and
3. the scammers behind Mitotic Money are using Indians to manage their social media (and probably web development)

In an attempt to hide all of this, Mitotic Money presents two incorporation certificates on its website:

1. Mitotic Money Investments LLC was purportedly incorporated in the US state of Kentucky in February 2022
2. Mitotic Money Organization LTD was purportedly incorporated in the UK on January 5th, 2023

Due to the ease with which scammers can incorporate shell companies with bogus details, for the purpose of MLM due-diligence basic incorporation in any jurisdiction is meaningless.

Mitotic Money’s website domain (“mitoticmoney.com”), was first registered in March 2021. The private registration was last updated on October 29th, 2022.

Early development for Mitotic Money’s website began in late 2021.

The website remained in a template state until the current website design was uploaded in or around November 2022.

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…]