RockRaise provides no verifiable ownership or executive information on its website.

In an attempt to appear legitimate, RockRaise provides a random “company registration number” on its website for “RockRaise SIA”. Under this RockRaise’s “General Manager” Axel Steen is listed.

Steen is featured in RockRaise’s marketing material but doesn’t appear to exist outside of the company.

I can’t confirm for sure but RockRaise’s Axel Steen is a good Boris CEO candidate.

Since launch RockRaise has switched out the actor representing the company. Steen is gone and it’s now “Alexander”:

Steen and Alexander have similar accents (I’m going with German).

RockRaise SIA is a Latvian shell company. Corresponding with this, RockRaise provides a purported corporate address in Latvia on its website.

Punching this address into Google Maps however reveals it’s some random residential building. RockRaise obviously doesn’t have any actual ties to Latvia.

It should further be noted that, for the purpose of MLM due-diligence, basic incorporation in any jurisdiction is meaningless.

The reason for this is any bogus information can be used for basic incorporation. Case in point:

One curiosity worth mentioning is RockRaise’s targeting of India.

The ploy is marketing nonsense but the Indian government gets a mention on RockRaise’s website:

Indian national holidays are also noted on RockRaise’s official FaceBook page:

These are unlikely to be coincidental. Whoever is running RockRaise is either based in and/or has ties to India, or at the very least is specifically targeting Indians.

Random stab in the dark but this guy might know who’s behind RockRaise:

Now if you’re wondering, “Well OK, what’s up with the German accents then?”, that’s where CPI Tech comes in.

Before it launched “cpitech” ran a RockRaise logo contest on 99 Designs:

CPI Technologies is a German blockchain bro company, headed up by founders Marvin Steinberg and Maximilian Schmidt.

Our company is located in Mainz, Germany. CPI team consists of software developers, Blockchain and smart contract experts, marketing and analytics geniuses, top-level UX / UI designers, copywriters, data scientists and mathematicians, all working together on innovative projects for customers from all over the world.

Whether CPI Tech is running RockRaise I can’t say, but they were definitely involved in setting it up. That involvement is also likely why RockRaise’s Boris CEOs have German accents.

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…]

iKapitol provides no ownership or executive information on its website.

iKapitol’s website domain was privately registered on November 29th, 2021.

In its marketing material, iKapitol claims to be “backed by Beat Markets incorporated in Spain”.

Beat Markets is represented to be a company with finance experience, “with a presence in Europe and Latin America”.

Does Beat Markets actually exist? Who knows. It should be noted that, for the purpose of MLM due-diligence, basic incorporation anywhere is meaningless.

One thing mention of Latin America and Europe does synch with is iKapitol’s website defaulting to Spanish.

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…]

EvoRich founder and CEO Andrey Khovratov has been arrested in Russia.

Authorities in Tagansky, a district in Moscow, have charged Khovratov with three counts of fraud. [Continue reading…]

Given the current global situation, some of you probably saw this coming a mile away:

A reader sent in a recent livestream by Candace Byrd Davis. In it she’s promoting “Fuel Factor X”.

None of this is really newsworthy on its own, but then a specific pitch from Davis caught my attention. [Continue reading…]

Paraiba has received a second securities fraud warning from Austria’s Financial Market Authority (FMA).

The FMA is Austria’s top financial regulator (SEC equivalent). [Continue reading…]

Avazoo operates in the gambling MLM niche. The company is headed up by Chairman Hans Reinisch.

Avazoo is proud to be led by Dr. Hans Reinisch, Avazoo’s Chairman of The Board.

Dr. Reinisch has a proven track record of over 25 years, holding CEO positions worldwide in Europe, Australia, The Caribbean and the United States.

In one of his Top Fortune 500 enterprises, he served as the Managing Director and CEO of EMI Music/Capitol Records in Europe.

Reinisch is represented on Avazoo’s website by what appears to be an old photo with Jay Leno.

This struck me as odd.

According to his LinkedIn profile Reinisch is based out of Florida. He lists involvement in Avazoo dating back to 2012.

At time of publication Avazoo’s official YouTube channel has sixty videos. None of the titles mention Hans Reinisch.

Considering he’s presented as the face of Avazoo, this also struck me as odd.

One recent video uploaded to Avazoo’s channel caught my eye; “Company Update”.

The video was almost a half hour in length. Not wanting to risk changes outdating my review as soon as it was published though, I queued it up.

The first thing I noticed was the video’s description:

Avazoo Founder & COO Dave Cutler will be Live at 8:00 PM New York Time (EST) with the Company Update, sharing essential and key updates regarding Avazoo.

Hmm. That’s not Hans Reinisch.

So who’s Dave Cutler?

According to his LinkedIn profile, he’s the CEO of AppTech Gateway and based out of Las Vegas, Nevada.

In 2004 the FTC sued a David G. Cutler for operating “an illegal business opportunity”.

One of the companies involved in the scheme, B&C Ventures, Inc., was based out of Nevada.

That alone though isn’t enough to confirm this was Avazoo co-founder Dave Cutler.

In addition to Cutler, the FTC sued Cindy Gannon, Paul D. Bonnallie, Tisa Christiana Spraul, and Michael J. Hatch.

Paul Bonnallie appears in a photo with Cutler in a $300 Avazoo advertising spot on Black Tie Magazine:

Tisa Christiana Spraul is head of Avazoo’s Global Operations:

I wasn’t able to confirm whether Cindy Gannon or Michael Hatch have anything to do with Avazoo.

Three of the five defendants the FTC sued for fraud in 2004 however are involved.

Theeeeeeeeey’re back.

I’m not sure exactly how much actual involvement Hans Reinisch has in Avazoo. At least on the surface he appears to be nothing more than a token executive for Avazoo’s website.

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

BitPlam has received a pyramid fraud warning from Russia.

Which is a bit odd, seeing a BitPlam is supposed to have collapsed last November. [Continue reading…]

Paraiba World has received a securities fraud warning from FINMA.

FINMA is Switzerland’s stop financial regulator (SEC equivalent). [Continue reading…]

South Africa’s FSCA has issued a Gift of Legacy warning. The warning follows enquiries from the South African public.

As per the FSCA’s March 23rd warning, which followed enquiries from the public, the regulator confirms Gift of Legacy isn’t committing securities fraud.

This would be a violation of South Africa’s Financial Advisory and Intermediary Services. [Continue reading…]

EON operates in the MLM cryptocurrency niche.

The company is headed up by George Goodman.

Goodman made his MLM debut in 2020 as President and CEO of Xifra.

Xifra is a Ponzi scheme that markets 200% returns on investments of up to $100,000.

Other than appear in a few promo videos, Goodman didn’t do much and disappeared shortly after launch.

As per EON’s marketing material;

The Mexican-American George Goodman, recognized as a visionary and pioneer of finance, launches his new platform to the world on February 18, 2022 from the city of Guadalajara.

Guadalajara is in Mexico, which fits with Xifra being a Mexican Ponzi scheme.

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