Mag Markets Review: 4XC securities fraud clone scheme

Mag Markets provides no information on their website about who owns or runs the company.

Mag Markets’ website domain (“magmarkets.com”) was privately registered in December 2020.

Mag Markets’ domain was registered through a German registrar. The company’s website also has native German language elements:

In an attempt to appear legitimate, Mag Markets claims its “regulated by the FSC”.

The company follows the regulated laws highlighted by the Financial Supervisory Commission (FSC).

MAGMarkets is operating under the legal umbrella of Geomatrix Ltd, which is audited by BDO and under the €20000 Financial Commission’s Compensation Fund.

Geomatrix Ltd is a shell company incorporated in the Cook Islands. Mag Markets appears to have obtained a financial license in the Cook Islands through Geomatrix.

For the purpose of MLM due-diligence, this is meaningless. Mag Markets has no business operations in the Cook Islands.

The Cook Islands is one of those tiny South Pacific nations scammers love to incorporate in, primarily because there’s little to no active MLM regulation.

MLM companies incorporating shell companies to launder money through is a due-diligence red flag.

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…]


Solar Group Review: Another “Russian inventor” Ponzi scheme

Solar Group is an investment themed MLM company based out of Russia.

Solar Group also goes by “Duyunov’s Motors”, referencing its founder Dmitry Duyunov.

As far as I can tell Duyunov doesn’t have a digital footprint prior to Solar Group surfacing in 2019. He appears to be a random Russian citizen leading the company.

Whether that’s just on paper (puppet owner) or in actuality is unclear.

In an attempt to appear legitimate, Solar Group claims to be incorporated in Vanuatu as Solar Group LTD.

The bar to register a shell company in Vanuatu is low. There is also no active regulation of MLM related fraud.

Unless it is actually operating out the country, any MLM company representing it is incorporated in Vanuatu raises a red flag.

A “front office” address in Moscow is provided on Solar Group’s website. Punching the address into Google suggests it belongs to a hotel.

Solar Group operates from the domains “solar.group” and “solargroup.pro”. These are the domains known to me, there are probably others.

Alexa traffic estimates reveal the majority of visitors to Solar Group’s website are from Russia and Vietnam.

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


Crowd1 restricts withdrawals through “Bonus Security System”

A Ponzi scheme is a zero-sum equation. That is, minor revenue generation aside, it cannot pay out more than is invested.

Once you factor in how much the owner wants to keep and other expenses, what’s left to pay out is reduced even further.

Crowd1’s latest solution to this problem is the Bonus Security System. [Continue reading…]


Futurion Finance Ponzi collapses, website offline

Futurion Finance has collapsed.

The Ponzi scheme’s website is down as of a few days ago. Futurion Finance’s social media channels have also been pulled. [Continue reading…]



CryptoSpot Review: 10% a day USD/crypto Ponzi scheme

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

A marketing paragraph identifies “Daniel Hunt” as the owner of the company. This might as well be any name (and probably is), as no further information is provided.

CryptoSpot’s website domain (“cryptospot.biz”) was privately registered on January 16th, 2021.

Although its website domain was registered earlier this year, CryptoSpot’s socials went live in mid August. This coincides with the launch of the company.

At the time of publication Alexa ranks the top sources of traffic to CryptoSpot’s website as Russia (13%), Egypt (10%) and Venezuela (9%).

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…]


HyperFund under regulatory investigation in India

Local media are reporting HyperFund is under regulatory investigation in India. [Continue reading…]


Artery Network Review: ARTR token Ponzi scheme

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

Artery Network’s website domain (“artery.network”) was privately registered on July 7th, 2020.

A visit to Artery Network’s website reveals Russian is the default language.

Further research reveals this guy hosting Artery Network promotional events on the company’s official YouTube channel:

I was able to identify this individual as Mark Bogatyrenko, Artery Network’s founder, CEO and President.

According to his vKontakte profile, Bogatyrenko is based out of Moscow, Russia.

Possibly due to language-barriers, I was unable to put together an MLM history on Bogatyrenko.

To date Artery Network has held promotional events in Sochi, Russia (December 2020), Dubai (April 2021) and Las Vegas, Nevada (July 2021).

The events are in Russia and appear to predominately feature eastern Europeans attendees.

Artery Network’s primary website domain has experienced a dramatic slump in traffic over the past few months.

The company has a second website domain up at “artr-network.io”, registered September 3rd, 2021.

According to Alexa, 68% of traffic to Artery Network’s .io domain is from Russia.

On both its websites Artery Network provides a corporate address for Artery Network Corporation in Seychelles.

This appears to be a shell company as Artery Network has no actual ties to Seychelles.

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



What’s left of Well Beyond sold off to My Daily Choice

What’s left of Well Beyond has been sold off to My Daily Choice.

Both companies, formerly focused on nutritional supplements, have recently dived into securities fraud. [Continue reading…]


SDK Meta Review: metaZero Cardano privacy phone MLM opp

SDK Meta operate in the cellular phone and service MLM niche.

The company is based out of Wyoming and headed up by owner Chris J. Snook.

The earliest digital footprint of Snook’s I was able to find was a 2005 San Diego State University paper titled, “Is Network Marketing and Pyramid Selling the same thing? A layperson’s guide to evaluating the pros and cons of this often misunderstood business model.”

The goal of this project was to explore the academic research surrounding the Network Marketing/Direct Sale Industry as well as Pyramid Schemes, in an effort to locate a model and key characteristics and differences between legitimate and viable NMO’s and illegitimate and fraudulent Pyramid Schemes.

In 2007 Snook co-authored “Wealth Matters: Abundance is Your Birthright”.

The Amazon author description of Snook’s book reads:

Chris J. Snook is living proof that the American Dream is alive and well, and that you truly can have it all… health, wealth and abundance in all areas!

He has lived the entrepreneurial life and experience for over a decade, and has transcended adversities that found him over $500,000 in debt and stranded in the DFW airport in Dallas, TX, to now running a multi-million dollar Lifestyle Enhancement Company called “define”, as well as leading personal development seminars and coaching programs for thousands of people with Bob Proctor’s Life Success company.

I haven’t read the book but the title gives off some strong “law of attraction” vibes. That’s hardly surprising so, seeing as “The Secret” was all over the place in the mid to late 2000s.

By this stage Snook was well entrenched in the MLM speaker circuit.

In 2014 Snook co-founded and worked as Managing Director for Launch Haus LLC.

At Launch Haus, we engage communities of common interest through virtual and live events!

Productions include Sandcastle Startups Challenge, Wyohackathon, World Tokenomic Forum, loopthinkCXO, BlokHausATX, and FCSW14-15.

Our Capabilities and Industry experience:

Hackathons for AI, IoT, Blockchain and related emerging technology.

This appears to be Snook’s transition into cryptocurrency.

In 2017 Snook appears to have gone full crypto bro. Snook’s LinkedIn profile details the usual blockchain projects that went nowhere, culminating in his founding of SDK Co. in March 2021.

SDK Co. is the company behind SDK Meta.

Just as an aside, I wasn’t able to peg Snook to participation in an MLM opportunity but given it features heavily in his thesis and book, I’d be surprised if there wasn’t a direct link somewhere.

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


Frank Ricketts’ German OneCoin money laundering trial begins

Frank Ricketts has finally fronted a court in Germany.

Ricketts and two other defendants have been charged with OneCoin money laundering offenses.

Their criminal trial began earlier today. [Continue reading…]