The Metafi Yielders Ponzi scheme is collapsing.

In line with other MLM crypto Ponzis struggling to put off the inevitable, Metafi Yielders has introduced withdrawal restrictions. [Continue reading…]

EminiFX owner Eddy Alexandre was arrested in New York on May 12th.

Later that same day Alexandre made his initial court appearance.

Here’s what happened, and what’s next. [Continue reading…]

Joseph Ford Jr., a Californian federal police officer, is promoting MLM crypto Ponzi schemes on YouTube.

Ruh-roh… [Continue reading…]

The court-appointed EminiFX Temporary Receiver has set up a website and made contact with investors. [Continue reading…]

The Swapnex Ponzi scheme has collapsed.

As per a communication to investors, Swapnex withdrawals have been restricted. [Continue reading…]

The Antares Trade 2.0 and Alcor Trade Ponzi schemes have collapsed.

Investors began reporting withdrawal problems earlier today. [Continue reading…]

The Paymara Ponzi scheme has collapsed.

Scammers behind Paymara have rebooted the Ponzi scheme under Paymara Meta.

Oh and they’re also jumping on the NFT fraud bandwagon. Because y’know, why not. [Continue reading…]

Footage of EvoRich owner Andrey Khovratov’s arrest has surfaced.

The undated footage, released by Russian authorities, appears to depict Khovratov’s arrest last month.

Khovratov had attempted to flee Russia with one or more accomplices at the scene.

Khovratov was briefly questioned in the airport carpark he was arrested in: [Continue reading…]

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

Nugen Coin’s website domain (“nugencoin.com”), was privately registered on November 1st, 2021.

I became aware of Nugen Coin following a reader request tying it to Free Mart.

I was able to confirm this with a little research:

BehindMLM reviewed Free Mart back in 2016. The company was co-founded by David Crookston and John Austin (left and right respectively).

Failing to differentiate between affiliates and retail customers, Free Mart essentially operated as a pyramid scheme. Attached to the MLM opportunity were kooky products Free Mart attributed illegal medical claims to.

Having not researched Free Mart since 2016, I discovered the company now goes by “ShopFreeMart”.

ShopFreeMart operates from “shopfreemart.com”, on which no company ownership or executive information is provided. There’s also no mention of NugenCoin.

ShopFreeMart failing to acknowledge ownership of Nugen Coin and hiding this information from consumers is a red flag. As is failing to provide ShopFreeMart ownership and corporate information.

Both disclosure failures are potential violations of the FTC Act.

From the Nugen Coin marketing video screenshot above, we can confirm John Austin is still CEO of ShopFreeMart.

David Crookston left the company on bad terms in mid 2016. This prompted Austin to publicly air dirty laundry about him.

In a bizarre turn of events, Austin did this by impersonating yours truly on a fake BehindMLM website.

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…]

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

Pegasus’ website domain (“pegasus.cx”), was privately registered on August 31st, 2021.

Pegasus’ official social media profiles were created in February 2022, suggesting this is when the company was launched.

The sole admin of the official Pegasus FaceBook group is “Peter Nab”. This is a new account, created around the time Pegasus launched.

Pegasus represents it is based out of Dubai. Whether this is true or not is unverifiable.

Regardless, any MLM company representing it is based out of Dubai automatically raises a red flag.

Of note is Pegasus’ use of ePayCore, a Russian financial services provider.

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…]