The notorious Traffic Monsoon Ponzi scheme has been resurrected.

This time opportunistic scammers are hoping to fleece new victims through cryptocurrency. [Continue reading…]

Three QNet scammers have been jailed in Ghana, after a gruesome ruse to con family members out of money came undone. [Continue reading…]

Fugitives Kristijan Krstic and wife Xenia Faye Natividad Atilano, have been on the run since August 2021.

The crime couple are wanted by US authorities, on charges related to a $70 million Ponzi empire.

Following their arrest at the request of US authorities in Serbia, Atilano was released early due to pregnancy. Krstic was released in July 2021 under murky circumstances.

Krstic and Atilano then promptly fled, and haven’t been seen since. Serbian authorities have remained silent on how the pair escaped.

Now some of the couple’s kids have turned up in the Philippines, prompting speculation Krstic and Atilano might be staying near family there. [Continue reading…]

The SEC has charged eleven Forsage Ponzi promoters with securities fraud.

The SEC claims Forsage is a $300 million dollar Ponzi scheme.

Forsage owner Vladimir “Lado” Okhotnikov is among the eleven defendants. [Continue reading…]

Envi FX fails to provide company ownership and executive information on its website.

Envi FX’s website domain (“envifx.com”), was first registered in 2020. The private registration was last updated on July 23rd, 2022.

Update 3rd August 2022 – As referenced in the conclusion of this review, one half of the admin team behind Envi FX and Automated Capital goes by “Kyle”.

In the comments below, BehindMLM reader David has outed “Kyle” as Kyle Cole (aka Kyle Raymond Cole and Kyle Raymond):

As of July 26th, Cole (right) claims $2.1 million has been invested into Envi FX and Automated Capital. Within an hour of David outing Cole, Cole deleted the above FaceBook post.

As per Cole’s FaceBook account, he’s a “full time entrepreneur” based out of Cincinnati, Ohio.

I can’t confirm it’s the same individual but, back in January, BehindMLM had a “Kyle Cole” show up trying to understand the since collapsed Intelligence Prime Capital Ponzi scheme.

On LinkedIn Cole cites himself as the CEO and Financial Specialist of “Global Ambassadors LLC”.

Whatever Global Ambassadors LLC was, its website is no longer functional.

A search of the Edgar database reveals Cole is not registered with the SEC. It is illegal to offer and promote unregistered securities in the US.

Cole’s Automated Capital partner in crime has yet to be identified. /end update

Update 3rd August 2022 #2 – I did some more digging around and believe Kyle Cole’s partner in crime is Hendry J Agus.

This is based on Cole and Agus being the sole two admins of Automated Capital’s official FaceBook group:

The group currently has 366 members and was created in March 2022.

Automated Capital is a Percentage Allocation Money Management (PAMM).

It is a form of pooled money forex trading utilizing Artificial Intelligence that works 24/7 to perform comprehensive analysis of market conditions at any time.

On his own FaceBook profile, Agus promotes Automated Capital as a “legit investment platform” generating “20 to 30% monthly”:

Agus represents he is based out of Alberta in Canada. Agus, like Cole, is not registered with the SEC or Canadian financial regulators.

Agus represents he has been committing securities fraud since at least “early 2021”:

Prior to founding Automated Capital, Agus was promoting CopyProTraders,

CopyProTraders is another MLM opportunity committing securities fraud. As at the time of this update, CopyProTraders’ website was non-responsive.

Before CopyProTraders Agus promoted My Freedom 365, a Ponzi cycler.

In addition to scamming people through fraudulent investment schemes, Agus works as a “systems engineer”. He is also a former Primerica distributor. /end update

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…]

Recompense identifies Terrance D. Gibson Sr. as owner of the company on its website.

Gibson Sr., a resident of Georgia in the US, is cited as a pastor, author and entrepreneur.

What isn’t disclosed is Gibson Sr. is also a serial promoter of crypto Ponzi schemes:

MLM opportunities promoted by Gibson Sr. (right) include:

• BitConnect (Ponzi)
• Bitqyck (Ponzi)
• HextraCoin (Ponzi)
• RegalCoin (Ponzi)
• Copy Profit Success Global (pyramid scheme)
• Kinetic Union (Ponzi)
• IXQTV (pyramid scheme)
• Cloud Token (Ponzi)
• Tryp (securities fraud)
• Tradera (pyramid scheme)
• Identity USA
• 7K Metals (pyramid scheme)
• Manifest FX (securities fraud)
• Healthy NU Living
• Intelligence Prime Capital
• Zeus’ Bounty (pyramid scheme)
• FastBNB (Ponzi)
• TronByte (Ponzi)
• Pro Trade Club
• COTP (Ponzi)
• StableBNB (Ponzi)
• Metafi Yielders (Ponzi)
• Swapnex (Ponzi)
• Fundsz (Ponzi)
• Pegasus (Ponzi)
• HyperOne (Ponzi)
• BNBSeed (Ponzi)
• Repowe (Ponzi)
• BNB Robot (Ponzi)
• Digital Ad Pro (Ponzi)
• MyResClub

Recompense’s website domain (myrecompense.com”), was privately registered on May 27th, 2022.

Gibson Sr. began promoting Recompense on or around July 4th.

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

Decentra has received a securities fraud warning from Peru’s Superintendencia de Banca.

As per the SBS’ July 12th warning, Decentra does “not have authorization from the SBS to collect money from the public”. [Continue reading…]

OmegaPro has received a securities fraud warning from Peru’s Superintendencia de Banca.

It is the second fraud warning issued by the SBS against the company. [Continue reading…]

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

Metanetix’s website domain (“metanetix.io”), was privately registered on April 1st, 2022.

In an attempt to appear legitimate, Metanetix provides an incorporation certificate for NDT Metaverse LTD.

NDT Metaverse LTD was incorporated in the UK on April 21st, 2022.

An MLM company operating or claiming to operate out of the UK is a red flag.

UK incorporation is dirt cheap and effectively unregulated. On top of that the FCA, the UK’s top financial regulator, do not actively regulate MLM related securities fraud.

As a result the UK is a favored jurisdiction for scammers looking to incorporate, operate and promote fraudulent companies.

For the purpose of MLM due-diligence, incorporation in the UK or registration with the FCA is meaningless.

Broken English in Metanetix marketing material suggests non-native English speakers are behind the company.

Considering marketing videos on Metanetix’s official YouTube channel are only in English and Hindi, there’s a good chance whoever’s running the scheme has ties to India.

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…]

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

First Scrap’s website domain (“firstscrap.com”), was first registered in November 2020. The private registration was last updated on July 2nd, 2022.

In an attempt to appear legitimate, First Scrap provides a random residential address in Canada on their website. For the purpose of due-diligence, this is meaningless.

First Scrap’s website went live in mid 2021, coinciding with a launch on or around June.

In late May 2022 First Scrap picked up their marketing game, with the introduction of “John Ronald”:

“John Ronald” is in fact Daniel Pulyakh (Данил Пулях), an actor based out of Moscow, Russia.

Since the May 2022 promo vid, Russian scammers have hired additional actors to play the rest of First Scrap’s executive team.

The above FaceBook post suggests a rented office Boris CEO marketing video is on the way.

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…]