The Ageeon MLM crypto trading Ponzi has collapsed.

As per a communication sent out on December 16th, Ageeon advised investors that withdrawals are disabled. [Continue reading…]

Enel AI fails to provide ownership or executive information on its website.

Enel AI’s website domain (“pg.roiaigpt.com”), was registered with bogus details on June 11th, 2024.

Of note is Enel AI’s website domain being registered through the Chinese registrar Alibaba (Singapore).

Enel AI has already attracted the attention of financial regulators. The Central Bank of Russia issued an Enel AI pyramid fraud warning on December 12th, 2024.

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…]

Chip2Wealth fails to provide verifiable ownership or executive information on its website.

Chip2Wealth’s website domain (“chip2wealth.com”), was privately registered on August 14th, 2024.

Chip2Wealth names Kane Tanakka as its CEO. A presumably made-up bio is provided, as Tanakka doesn’t exist outside of Chip2Wealth’s website.

In another attempt to appear legitimate, Chip2Wealth provides company registration details for Chip2Wealth LTD.

Chip2Wealth LTD was registered as a UK company on August 21st, 2024.

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.

Of note is Chip2Wealth’s official marketing materials being authored by “Parshvi Sanghavi”.

A Google search for this name reveals ties to India. This in turn suggests whoever is actually running Chip2Wealth has ties to India.

Supporting this is the use of the Indian rupee symbol in Chip2Wealth’s official marketing:

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…]

Puma Invest fails to provide ownership or executive information on its website.

Puma Invest’s website domain (“pumainvest.vip”), was registered with bogus details on November 27th, 2024.

Of note is Puma Invest’s website domain being registered through the Chinese registrar Alibaba (Singapore).

Puma Invest has already attracted the attention of financial regulators. The Central Bank of Russia issued a Puma Invest pyramid fraud warning on December 12th, 2024.

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…]

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

In fact as I write this, KlixGlobal’s website homepage is nothing more than an an affiliate log in/sign up form:

KlixGlobal’s website domain (“klixglobal.net”), was privately registered on September 5th, 2024.

The majority of KlixGlobal marketing available is from Indians. As of November 2024, SimilarWeb also tracked 100% of KlixGlobal’s website traffic as originating from India.

From this there’s a high probability that whoever is running KlixGlobal is based out of or at a minimum 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…]

Around 50,000 Indian investors have lost a reported $8.8 million USD to the collapsed RGA “click a button” app Ponzi. [Continue reading…]

QNet, Oriflame and and fifteen MLM companies have received fraud warnings from India’s Central Consumer Protection Authority (CCPA).
[Continue reading…]

QUA AI Bot fails to provide ownership or executive information on its website.

QUA AI Bot’s website domain (“usdtquaaibot.com”), was privately registered on November 11th, 2024.

QUA AI Bot has already attracted the attention of financial regulators. The Central Bank of Russia issued a QUA AI Bot pyramid fraud warning on December 5th, 2024.

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…]

Newcrest Limited fails to provide verifiable ownership or executive information on its website.

While a a list of purported executives is provided on Newcrest Limited’s website, none of them exist outside of the company’s own marketing.

Newcrest Limited’s website domain (“newcrest-limited.com”), was privately registered on September 3rd, 2023.

Interestingly, Newcrest Limited’s website points to Terms and Conditions hosted on another domain:

Meridian Investment appears to tie into an Australian trust company that dates back to the 1990s. Details are provided if one clicks the “company number” link on Newcrest Limited’s website.

I haven’t provided specific details because, quite obviously, the Australian trust company has nothing to do with Newcrest Limited. I suspect Newcrest Limited was originally going to be named Meridian Investment.

Either way, we appear to have serial fraudsters running a cookie-cutter scam template script. This is further confirmed by generic code comments in Newcrest Limited’s website source-code.

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…]

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

TTK operates from three known website domains:

1. ttkal.com – privately registered in June 7th, 2024
2. ttkappl.com – registered with bogus details on June 4th, 2024
3. app.ttkcorp.org – privately registered on February 6th, 2024

On its websites TTK represents it is based out Colorado in the US.

TTK is led by a trusted team of advisors and experts. The company was founded in 2024 and is headquartered in Colorado, USA.

The basis of this claim doesn’t extend past registration of TTK Application Promotion Limited, a shell company registered in Colorado on June 13th, 2024.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.

Pertinent to TTK’s marketing claims, the company doesn’t appear to have any actual physical ties to the US.

While TTK’s offered website languages are English and Sri Lankan, we can see through the source-code that the defaults are English and Chinese:

This suggests whoever is running TTK has ties to China.

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…]