OmegaPro has received a securities fraud warning from Nicaragua’s Superintendencia de Bancos y de Otras Instituciones Financieras (SIBOIF). [Continue reading…]

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

In an attempt to appear legitimate, Metafi Yielders provides a random residential address in NSW, Australia.

Metafi Yielders’ website links to an official private FaceBook group.

The one admin of the group is CEO “Michael Daher”, represented by a blank newly created FaceBook account.

Admins of Metafi Yielders official FaceBook group are Robin Shanks, Rabbia Akmal, Huzaifa Naseeb, Chigozie Anthony Ezubelu, Femi Adeyemi and Leanna Sippel.

Metafi Yielders’ website also contains an embedded marketing video, titled “METAFI YIELDERS Facebook Live Presentation and Q&A”.

The video features Michael Daher, who has a distinctly Australian accent.

Further research reveals Daher’s actual name is Michel Daher. He also goes by Micho Nicolas.

Daher, or Nicolas, is a long-time resident of Perth, Australia. For reference, Perth is on the western coast of Australia. Blacktown in Sydney is on the east coast.

Prior to reinventing himself as the CEO of an MLM company, Daher fancied himself a vlogger and “amateur experimental chef and lover of food“.

Circa 2015, Daher was working as a photographer for The Shed Studios Australasia:

Up until very recently, the photo used to represent the new “Michael Daher” FaceBook profile was used on Michel Daher’s YouTube channel:

As far as I can tell, Daher/Niholas has no prior MLM corporate experience.

Taking a step back, Metafi Yielders has all the calling cards of a Russian Boris CEO Ponzi scheme. You have a template website, Telegram support, CEO nobody has ever heard of and random residential address.

What’s missing is the usual rented office videos. What gives?

Metafi Yielders’ website domain (“metafiyielders.com”), was privately registered on March 16th, 2022.

Russia invaded Ukraine a few weeks earlier in mid February. Heavy sanctions soon followed.

I imagine finding English-speaking foreign nationals in Russia presently can’t be easy. And so we have what appears to be the first budget Boris CEO Ponzi.

That is to say Micho Nicolas has been hired to front Metafi Yielders. He’s been sent a tshirt and rocks up to Metafi Yielders webinars on a webcam from his residence in Perth.

A far cry from the rented office studio production videos Boris CEO Ponzis usually deliver.

Alternatively Daher/Nicolas is some random schmuck who woke up one day and decided to launch his own MLM company.

Maybe someone can ask him about this on the next Metafi Yielders webinar?

Alexa currently ranks top sources of traffic to Metafi Yielders’ website as Vietnam (19%), the US (18%) and Colombia (13%).

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…]

Having unofficially collapsed in December 2020 with the launch of Electric Cash and subsequent failed shitcoins, Mining City has now officially collapsed.

As per an email sent out by CEO Greg Rogowski, Mining City has implemented withdrawal restrictions. [Continue reading…]

Congo Republic’s Director General of National Financial Institutions, Jean-Pierre Nonault, has stated OmegaPro is a “Ponzi type scam”.

The declaration follows arrest warrants issued against two national OmegaPro managers. [Continue reading…]

With its Digital Partners Network Ponzi in tatters, Crowd1 has revealed its next Ponzi play: Metaversy.

Metaversy is a new blockchain based trading game where you as a player can trade virtual shares in companies which only exist in the Metaverse!

This will be the most revolutionary game you’ll ever play! At the cutting edge of the digital frontier, where crypto and blockchain meets the Metaverse, this is a game as exciting and rewarding as Wall Street, but without the suits!

Metaversy, a crypto stock market through which Crowd1 will continue to offer unregistered securities and defraud consumers. [Continue reading…]

Universal Pickle was part of Anthony Norman’s EQT Bank Ponzi scheme.

EQT Bank itself was a reboot of Norman’s collapsed Dragon Global Finance Ponzi.

As per an undated update sent out to investors, Norman advised “both parties have agreed to discontinue the partnership in an amicable manner.”

Yes, that’s Anthony Norman superficially separating one component of his latest Ponzi from the other. [Continue reading…]

The SEC has filed suit against Steven Chiang (aka Cyrus Kong), Eric Tippetts, James Hardy and Maurice “Butch” Chelliah.

As alleged by the regulator, the defendants scammed consumers out of millions through their Nasgo and ShareNode Ponzi schemes. [Continue reading…]

World Wide Wallet Investment Limited, abbreviated as WW3INV, fails to provide company ownership or executive information on its website.

W3INV’s website domain (“w3inv.com”), was privately registered on April 20th, 2021. A visit to the Wayback Machine suggests W3INV launched in late 2021.

In an attempt to appear legitimate, W3INV provides UK incorporation details for World Wide Wallet Investment Limited.

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.

At time of publication Alexa ranks Bangladesh as the only notable source of traffic to W3INV’s website (93%).

This is high enough to suggest whoever is running W3INV is in or has ties to Bangladesh.

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…]

Lifevantage has prevailed against consumers forming a class-action against it.

The decision was handed down on April 19th, effectively ending plans to sue Lifevantage as a class for securities fraud. [Continue reading…]

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

Swapnex’s website domain (“swapnex.io”), was privately registered back in December 2020.

The company itself appears to have launched on or around August 2021.

In an attempt to appear legitimate, Swapnex provides Australian incorporation details for “Swapnex PTY LTD”. A corresponding corporate address in NSW, Australia is also provided.

One of the businesses operating from this address is a virtual office address merchant.

For the purpose of MLM due-diligence, basic incorporation in any jurisdiction is meaningless of for the purpose of MLM due-diligence. This is primarily due to the lack of verification of submitted data.

Swapnex’s official YouTube channel was created on August 2nd, 2021. The channel features marketing videos with cast actors.

In an October 30th 2021 video, an unnamed “product director” appears in a typical rented office setup:

In a second video uploaded on February 6th 2022, Swapnex names its Product Director as Marcus Huber;

“Marcus Huber” is in fact Rupert Godman, a UK citizen living in Russia for two decades.

Godman is fluent in French, Spanish, German and Russian. As per an interview Sam Gerrans, circa 2012 Godman was

in real estate and teaches business English. He is also writing a novel and plays drums in a band.

On March 20th, Godman marked a recent Swapnex acting gig with an Instagram post:

My last role in Moscow playing a spivvy cryptocurrency dealer in a corporate video.

I remain open to opportunities in the UK.

I believe the video Godman refers to is the February 2022 Swapnex marketing video cited above.

Swapnex’s official FaceBook page is managed from the Ukraine.

From this we surmise “Marcus Huber” is a Boris CEO. Who exactly is running Swapnex is unclear but it’s very obviously the usual eastern-European scammers.

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…]