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…]

A BitConnect class-action Status Report reveals a settlement between the parties is

unlikely at this time based on the history of this litigation and the Parties’ litigation positions.

A Fourth Amended Complaint is also in the works. [Continue reading…]

Victims of Jan-Eric Nyman’s eComelize pyramid scheme are being funneled into BinaryTorrent.

BinaryTorrent appears to be a reboot pyramid scheme with a new marketing ruse and tokens. [Continue reading…]

Daxio has received a pyramid scheme fraud warning from the Norwegian Gambling Authority (Lottstift).

Lottstift issued its Daxio fraud warning via a May 20th letter addressed to “Daxio Norge”. Frode Jorgensen is identified as Daxio’s CEO. [Continue reading…]

Two Herbalife executives based out of China were indicted back in 2019.

One of the executives, who fronted HerbaLife China for over a decade, was also sued for by the SEC.

Both the criminal charges and civil case pertained to Herbalife’s violations of the Foreign Corrupt Practices Act. [Continue reading…]

MetFi fails to provide company ownership or executive information on its website. Official MetFi marketing videos are dubbed over with robo voices.

MetFi’s website domain (“metfi.io”), was first registered in March 2021. The private registration was last updated on March 12th, 2022.

Given the May 21st 2022 launch date cited on MetFi’s whitepaper, it’s safe to assume the current owner(s) took possession of the domain in March.

Despite representations nobody is running MetFi, MetFi’s owner(s) communicate to investors through a Discord chat group.

Update 20th August 2022 – Following a reader tip, I’m noting MetFi’s ties to OneCoin scammers Staffan Liback and Stephan Steinkeller.

In a webinar targeting Spanish investors, held on or around July 20th (different webinar below), Staffan Liback claimed to have been involved in MetFi for 40+ days.

This puts Liback in Metfi right around the late May launch.

Liback is joined in MetFi by the Steinkeller brothers…

…who are believed to be wanted by Italian authorities on OneCoin criminal fraud charges.

The Steinkellers fled Italy for Dubai as OneCoin was collapsing. Liback is based out of Thailand.

Earlier this year the Steinkellers were promoting the WinWheel Ponzi scheme.

WinWheel was a reboot of Algotech, set up by Klas Magnus Nilsson and Daniel Grenon. Nigel Allan, a former OneCoin executive, oversaw Liback and the Steinkeller brothers.

Winwheel launched in late 2021 and collapsed in Q1 2022.

The July MetFi webinar cited above was put together by Jairo Cornago Moreno (below), also a former Winwheel promoter.

While there’s been no public acknowledgement of who’s running MetFi, the ties to Winwheel are too numerous to ignore.

I suspect MetFi is a reboot of Winwheel, with the same cast of characters running the show.

SimilarWeb traffic analysis for MetFi’s website reveals recruitment in Spain collapsed over June and July.

Top sources of traffic to MetFi’s website are currently the Dominican Republic (44%), Martinique (25%) and Italy (10%).

MetFi has likely migrated from Spain to the Dominican Republic through Spanish speaking scammers.

Martinique is a tiny island of less than 400,000 in the Caribbean currently plagued by MLM Ponzis. Most of MetFi’s Martinique investors are likely Decentra victims.

Decentra is a collapsing Ponzi scheme run by Jonathan Sifuentes. Martinique made up 88% of traffic to Decentra’s website in July 2022.

Wanted by local authorities and currently in South America (Colombia), the Steinkeller brothers and their associates are likely behind MetFi recruitment in Italy. /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…]

MetaForce is the sixth Forsage Ponzi scheme from serial scammer Lado Okhotnikov.

Okhotnikov’s last scam was Forsage BUSD, a crypto smart-contract Ponzi that didn’t go anywhere.

Forsage BUSD emerged in early 2021. Investors in third-world countries were pretty much all that was left at this point, and Forsage BUSD never really gained any traction.

In early February 2022 Okhotnikov (right) announced Forsage Force, which would eventually launch a week or so ago as MetaForce.

MetaForce’s website domain (“meta-force.space”), was first registered on January 11th, 2022. The private registration was last updated on June 25th.

Lado Okhotnikov is believed to be a Russian citizen. His current whereabouts are unknown but MetaForce’s official FaceBook page is managed from Russia, Ukraine and Georgia.

SimilarWeb currently ranks top sources of traffic to Meta Force’s website as Russia (27%), the US (23%), Kazakhstan (17%) and Belarus (7%).

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

Market Vision fails to provide company ownership and/or executive information on its website.

Market Vision’s website domain (“marketvision.io”), was first registered in May 2020. The private registration was last updated on June 26th, 2022.

Market Vision has an official YouTube channel, featuring a bunch of German marketing videos.

Not surprisingly, all of the Market Vision affiliate marketing I came across was in German too.

This strongly suggests whoever is running Market Vision at the very least has ties to Germany.

Update 12th July 2022 – A video uploaded to Market Vision’s official YouTube channel features this unidentified individual;

Later in the video the individual logs into Market Vision’s website as “MarketVision Admin”.

Consistent with Market Vision’s apparent ties to German, the unidentified individual speaks in German.

BehindMLM reader Melanie in the comments below (#14), notes that a WhatsApp number in the video description corresponds to Austria (note if you translate the text to English the WhatsApp number disappears). /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…]

Back on May 4th I mused;

The bag the Vietnamese/Russian scammers are gearing up to leave Daher holding is shaping up to be epic.

The bag Daher was left holding when Metafi Yielders went on to inevitably collapse ten days later was indeed epic – purportedly to the tune of $200 million in fraud.

Instead of taking responsibility for his actions, Daher blames three unnamed Nigerians.

Here we go… [Continue reading…]

A court has ordered the Bank of Namibia to fund CBI Global.

The Bank of Namibia is Namibia’s top financial regulator. CBI Global is a Ponzi scheme.

Oh dear. [Continue reading…]