Fintoch appears to have wrapped up its exit-scam by disabling its website.

At time of publication attempts to visit Fintoch’s website return an “ERR_NAME_NOT_RESOLVED” DNS error.

This doesn’t appear to be a temporary error as I noted Fintoch’s website has been manually removed from Google’s search results.

Typically a previously accessible website can linger for up to a week in search results. [Continue reading…]

Jan Gregory’s Ponzi empire is falling apart.

In what appears to be retaliation against ongoing investigative reporting into fraud, Gregory has issued a death threat against Oz, editor and author of BehindMLM. [Continue reading…]

The S-Group Ponzi scheme has collapsed.

On June 10th S-Group investors were informed of “maintenance work” on S-Wallet. Since then there’s only been one vague update. [Continue reading…]

Emerson Pires and Flavio Goncalves, co-founders of the EmpiresX Ponzi scheme, have copped a $45.8 million judgment in their SEC fraud case. [Continue reading…]

One of the executive ringleaders behind USFIA’s GemCoin Ponzi scheme has avoided prison.

Leonard Stacy Johnson pled guilty to two counts of fraud in July 2019.

On June 5th, Johnson was sentenced to two years probation and $45,871 in restitution. [Continue reading…]

Eteric Power fails to provide ownership or executive information on its website.

Eteric Power’s website domain (“eteric-power.com”), was privately registered on April 14th, 2023.

I noticed in Eteric Power’s source-code a reference to “Prudential Investments Pty Ltd”. A link to an ASIC search is provided.

There are a few matches so nothing definitive. The reference is commented out on the source-code though, suggesting Eteric Power is built on a template.

I ran a search for a text snippet on Eteric Power’s website and it returned 1230 results. 

It appears we have some very busy serial scammers on our hands.

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…]

Brian Underwood is attempting to intervene in a lawsuit filed by Michael Rutherford against Pruvit.

In a Motion to Intervene filed on June 14th, Underwood claims he and Rutherford had “a longstanding agreement and de facto partnership”. [Continue reading…]

Dmatrx has received a pyramid fraud warning from Russia.

As per the Central Bank of Russia’s June 20th warning, Dmatrx exhibits “signs of a “financial pyramid”. [Continue reading…]

United Partners fails to provide ownership or executive information on its website.

United Partners’ website domain (“unitedpartners.io”), was privately registered on January 27th, 2023.

In an attempt to appear legitimate, United Partners provides an address in the UK on its website. This appears to correspond to the UK shell company United Fintech Solutions LTD.

Incorporation details for Triple Ex GmbH (Switzerland),  Triple Ex Crypto LLP (UK) and Stockpoint OU (Estonia) are also provided. [Continue reading…]

Vitru Global operates in the cryptocurrency MLM niche. The company doesn’t provide a corporate address on its website.

Vitru Global’s website domain (“vitruglobal.com”), was privately registered on March 27th, 2023.

Vitru Global represents it is headed by co-founder Ravinder Singh and CEO Frank Tornatore.

No verifiable information about either executive is provided.

Vitru Global affiliate marketing suggests Singh is from India and Germany, and Tornatore is from Spain.

I wasn’t able to independently verify this information, which is a red flag.

My first though was that Singh and Tornatore might be Boris CEOs. I was however able to verify they are being represented by real people:

The above is from an April 2022 Vitru Global Zoom webinar. It appears to be the only Vitru Global footage featuring the pair available.

On FaceBook Tornatore pitches himself as “Legal counsel specialize in inheritance Marketing (and) Specialist online and Blockchain”.

Photos over the last few years suggest Tornatore has, at the very least, attended various blockchain bro events.

The first thing you see on Ravinder Singh’s FaceBook page is a pinned post promoting the Solmax Global Ponzi scheme.

Solmax Global was a Ponzi scheme that primarily targeted Pakistan and neighboring countries.

Solmax Global collapsed in October 2021. A reboot was announced but never went anywhere.

Singh was still promoting crypto Ponzis right up until Vitru Global was set up in late March 2023.

Finex Prime appears to have collapsed just before Vitru Global launched.

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