Tedy Teow, head of the MBI International Ponzi scheme, has been arrested in Thailand.

Authorities allege Teow was caught laundering money from his online gambling business. [Continue reading…]

AOL918 provides no information on its website about who owns or runs the company.

AOL918’s website domain (“aol918.com”), was privately registered on March 10th, 2022.

If we look at the source-code of AOL918’s website, we see it is localized to Chinese:

This strongly suggest whoever is behind AOL918 has ties to China.

SimilarWeb shows a large uptick in traffic to AOL918’s website, mostly originating out of Turkey.

It should be noted that AOL918 operates from multiple domains, these include:

• aol518.com
• aol988.com

There are possibly others.

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…]

South Africa attempting to regulate MLM Ponzi schemes through a broken liquidation system is one of the dumbest things I’ve ever had to report on.

In the latest show of stunning incompetence, South Africa’s Revenue Service, the country’s tax regulator, is looking to steal the entire balance of recovered funds. [Continue reading…]

Tectum operates in the cryptocurrency MLM niche.

The company represents it is part of CrispMind LTD. CrispMind purportedly has both US and European offices.

Tectum’s provided Illinois corporate suite address is shared by a number of other companies, suggesting it’s virtual in nature. Tectum’s European office is represented to be in Ireland.

Tectum’s website has an “our team” section, on which fourteen individuals are listed.

In what appears to be a UI design failure, executive roles aren’t available unless you click through on each team member’s name.

I wasted my time clicking through every provided Tectum team member’s profiles, only to find who actually owns and runs the company isn’t disclosed.

The only name I recognized of Tectum’s fourteen team members was David Track.

BehindMLM noted David Track (right), as founder and President of PrepayCPA in 2011.

PrepayCPA is long gone. Wondering what Track has since been up to, I headed over to his LinkedIn profile.

In addition to running Track Companies, who “specialize in high-risk merchant credit card services”, Track was Senior Vice President of Growth & Strategy for Tryp.

BehindMLM reviewed Tryp in January 2019, noting a pyramid business model with an illegal stock offering.

Tryp collapsed as an MLM company in January 2020.

Track appears to have reinvented himself as a crypto bro in 2020. Track’s LinkedIn cites him as a Bitlocity “Member of the Board of Advisors”.

Bitlocity was an MLM crypto gifting pyramid scheme. The scam collapsed in early 2021.

In late 2021 Track jumped on the NFT grift bandwagon as co-founder of NFT Tycoons.

That went nowhere, leading Track to sign on as Tectum’s Director of Mass Adoption in April 2022.

Still wanting to know who was running Tectum, my next port of call was CrispMind’s website.

There I learned Alex Guseff (right) is CEO of CrispMind. Presumably this means Guseff is also running Tectum.

Guseff is the last Tectum team member listed on their website. Why his running of the company isn’t disclosed is unclear.

Guseff appears to be a random crypto bro from Russia. As opposed to either the US or Ireland, a June 2020 PR puff piece on Medium places Crispmind in Kazan, Russia.

Alexander Guseff is a career software development executive from Crispmind, a software development startup located in Kazan, Russia.

Why Crispmind and Tectum are pretending to be based out of the US and Ireland is also unclear.

SimilarWeb currently ranks top sources of traffic to Tectum’s website as the UK (37%), Russia (31%), Switzerland (20%) and Canada (7%).

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…]

Genusity is an MLM company co-founded by Tim Sebert and Randy Thomas.

BehindMLM reviewed Genusity in late 2017. We noted an MLM opportunity built around the sale of bluetooth spam devices.

Today Genusity markets a bunch of white-label supplements…

…as well as a $195 in, $10,330 out Ponzi cycler. [Continue reading…]

Young Living has received a warning from the FDA, advising its CBD products “are drugs … intended for use in the cure, mitigation, treatment, or prevention of disease.”

The classification has been made following observation of marketing by Young Living and its distributors. [Continue reading…]

Justin Halladay and Luigi Bruni are believed to earn the top earning position in the CashFX Group Ponzi.

Having all but disappeared from the company, as CashFX Group continues to promise withdrawals are just around the corner for the better part of a year now, it appears Halladay and Bruni have broken up. [Continue reading…]

Hyperverse investors are being asked for up to $100,000 to migrate their positions over to HyperNation.

Our source material for this update is a HyperNation webinar held by Rory Conacher and Sean Maaske. [Continue reading…]

The FVP Trade Ponzi scheme has collapsed.

Rather than just admit they’ve run out of money, FVP Trade blames regulators in the UK. [Continue reading…]

ImpulsX is trying to pump its IPX Ponzi token by funneling investors into MetFI.

Well, at least that’s the pitch. On the backend it’s a quick payday for ImpulsX’s founders. [Continue reading…]