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…]

In July 13th Coffe Network announced one of Freeway’s “bridges” was compromised on July 12th.

Dear community,

Unfortunately, one of the bridges of our project was compromised yesterday.

Our partner, Freeway, was targeted and a large number of FWT tokens were removed from our hot wallet and sold on exchange.

However, all funds have now been transferred to a new wallet, where they are safe.

We have stopped all swap operations on bridges while we investigate this incident and the bridges can be revised.

We will keep you updated as soon as we know more. Thank you.

Aubit’s Sadie Hutton put out an update on July 16th and well, things don’t really add up. [Continue reading…]

Gilbert Armenta was indicted on OneCoin fraud charges in July 2017. He pled guilty to the charges in April 2018.

Originally held in prison awaiting sentencing, Armenta was released on compassionate grounds in late 2020.

Since then Armenta’s scheduled sentencing dates have been continuously pushed back.

The official and now oft repeated reason for Armenta’s sentencing delay is “forfeiture and other sentencing related issues”. This doesn’t tell us much.

Now, a new filing from Armenta sheds light on what’s holding things up. [Continue reading…]

ShopWithMe fails to provide company ownership or executive information on its website.

ShopWithMe operates from the domain (“shopwithme.biz”), privately registered on April 14th, 2021.

On June 30th BehindMLM reader Melanie noted a Direct Selling Magazine article. The June 28th article represents ShopWithMe was launched by Christian Wiesner.

Christian Wiesner starts the new social commerce revolution with Shopwithme!

The founder of Shopwithme GmbH, headquartered in the federal capital, is Dr. Keywan Grashoff, mother of Christian Wiesner.

Wiesner’s name appears as a “representative” on ShopWithMe’s website.

Contact details provided confirm ShopWithMe is incorporated in Germany. The corporate address provided however belongs to Regus, a virtual office merchant.

Christian Wiesner is known to BehindMLM as founder and CEO of WellStar.

In 2015 BehindMLM covered a spat between Wiesner and Kari Wahlroos.

Wahlroos joined WellStar in 2014 and quickly rose to the rank of Crown Ambassador. Wahlroos was frequently cited as one of WellStar’s “top leaders”.

Then in late 2015, Wahlroos bailed from WellStar to front the notorious OneCoin Ponzi scheme.

This did not sit well with Wiesner.

Wiesner accused Wahlroos of engaging in “criminal behavior”. Wahlroos turned around and, in a public letter, provided insight into WellStar’s business operations.

The real issue here is that, as Wellstars No1 and the most successful leader, I have decided that this company will never deliver on the promises you make.

I have had countless discussions with you to fix the endless problems and you never deliver. All we have been told by you, for over 18 months, is ‘recruit more’ and ‘sell more tickets’.

The administration of Wellstar remains a disgrace.

Products flaws. A product returns system that does not work. Non-existent of customer support, terrible partner support.

How many times did my team have to show the problems with you trying to claim that we were at fault?

I loved the product concept and I like you personally yet professionally as a CEO you do not deliver so the company is a mess.

We both know that so many leaders have quit because they don’t earn any money so you have to launch a new country every 3 months.

BehindMLM reviewed WellStar in January 2016. What we found appeared to confirm Wahlroos’ account.

Whether it’s language-barrier issues, the fact that WellStar was founded twelve years ago – whatever the reason – WellStar as an MLM opportunity is in desperate need of an overhaul.

Problems arise with a lack of disclosure on the WellStar website, spanning retail prices, affiliate membership costs and basic compensation plan information.

As to the compensation plan itself, there’s a lot of information presented but not much of it makes any sense.

We identified autoship recruitment at the core of WellStar’s business model, which would indeed make it a pyramid scheme.

As reported by BehindMLM readers, WellStar would go on to collapse in mid to late 2020. The company’s website disappeared in early 2021.

As of mid 2021 Wiesner was amid a WellStar shell company mess. This would eventually result in the insolvency of WellStar GmbH & Co. KG, ordered by a German court on February 15th, 2022.

ShopWithMe surfaced a few months later.

I suspect Wiesner’s WellStar shell company shenanigans are why his mother is being credited as ShopWithMe’s founder.

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

Nextera has received a pyramid fraud warning from the Central Bank of Russia (CBR). [Continue reading…]

Back in January BehindMLM covered Youngevity’s foray into forex trading.

The original offering was called Max Trader’s Academy, headed up by former OneCoin promoter Sal Leto.

Attached to Max Trader’s Academy was Max Indicator.

The MAX Indicator is an Artificial Intelligent [sic] oriented software application known an “Indicator”.

The software is designed to scan the fluctuation of prices and values throughout several different financial markets.

The MAX Indicator then uses this data that’s been collected to product an information report ot the user.

How’s that going six months later? No idea. Max  Things have been suspiciously quiet.

There’s a few Max Indicator reviews on Youngevity’s site dating back to January/February 2022, and then nothing.

Now Leto has revealed 8 Minute Trader, Youngevity’s next trading opp. [Continue reading…]

Axxces operates in the trading MLM niche. At time of publication the company is in prelaunch, with Axxces’ website redirecting to a “I want to be a founder” marketing campaign”.

A countdown on the page suggests Axxces intends to launch in 22 days.

Heading up Axxces is founder and CEO Edwin Haynes.

Haynes is the former Global Master Ambassador for iBuumerang. His departure isn’t insignificant.

Haynes association with iBuumerang founder Holton Buggs dates back to Organo Gold, an MLM company Buggs co-founded in 2008.

Haynes was a top earner in Organo Gold. He and Buggs ditched the company to go off and launch iBuumerang in 2019.

Haynes is based out of Texas in the US. It thus follows that Axxces is also based out of Texas.

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

Regulators are starting to pay attention to the plague of “click a button” app Ponzis that have sprung up.

The first regulatory fraud warning specifically pertaining to the scams has been issued by the Philippine SEC. [Continue reading…]

Elomir CEO Van Nguyen recently attempted to address compliance issues on a July 11th “Team Relentless” webinar.

Unfortunately Nguyen missed the mark. She also doubled down on her husband’s crypto securities fraud. [Continue reading…]