MWR Life has received a pyramid fraud warning from the Central Bank of Russia (CBR).

As per the CBR’s September 1st warning, MWR Life exhibits “signs of a financial pyramid”. [Continue reading…]

Texit Coin operates in the cryptocurrency MLM niche. The company is purportedly based out of Texas.

Heading up Texit Coin we have founder Bobby Gray, aka Rob Gray and Robert J. Gray.

As far as I can tell Gray doesn’t have an MLM history. Gray appears to be a sovereign citizen nutjob with a specific focus on counterfeiting US currency.

The earliest I was able to find on Gray was his role as Regional Currency Officer at Liberty Dollar.

Liberty Dollar was a “private currency” started by Bernard von NotHaus in 1998.

Liberty Dollar’s storage warehouses were raided in 2007. Von NotHaus was charged with counterfeiting US currency and was arrested in June 2009. A month later von NotHaus announced he was closing Liberty Dollar.

Von NotHaus was convicted at trial in March 2011. In November 2014 von NotHaus was sentenced to six months house arrest with three years probation.

A year before the Liberty Dollar raids, Bobby Gray launched his own Liberty Dollar spinoff; the American Currency Open Standard.

Gray claims he launched the American Currency Open Standard in 2008 after “watch[ing] all these different documentaries” and going down “the bottom of every rabbit-hole conspiracy theory”.

In a recent Texit Coin marketing video, Gray describes the American Currency Open Standard as “his own currency”.

Speaking before the Domestic Monetary Policy Subcommittee in 2012, Gray claimed the Federal Reserve and US government were “thieves”.

Ironically, the same year Gray appeared before the subcommittee to tout its success, American Currency Open Standard collapsed. This prompted Gray to launch Mulligan Mint later the same year.

Mulligan Mint was pitched as a “complimentary currency system that can fill in the blanks where the U.S. dollar has let us down”.

In September 2013, the Wall Street Journal reported on Mulligan Mint’s collapse;

The 25-worker Mulligan Mint Inc. … has filed for bankruptcy after officials in June discovered that part of a $1.4 million shipment of silver was missing.

Where did the silver go?

“That’s the big question,” Mulligan Mint President Rob Gray told Bankruptcy Beat. “We don’t really know.”

Social media posts suggest Brown relocated to Singapore around the time of Mulligan Mint’s collapse.

In 2017 Gray resurfaced with Singapore-based Cold Storage Coins. Cold Storage Coins was a continuation of a service Gray previously sold through Mulligan Mint (quoting the previously cited WSJ article);

Mulligan Mint even sells a one-ounce silver “bitcoin,” a virtual currency that some have ironically made actual coins for, which has a Q2 code that can be scanned with a smartphone.

As of 2023, Cold Storage Coin appears to have been rebooted as Blockchain Mint.

A 2013 Reddit post in the Silverbugs subreddit, purportedly quoting a 2013 email newsletter from Bernard von NotHaus, associates the following additional entities with Gray;

Free Lakota Bank, AOCS (American Open Currency Standard), Mulligan Mint, SLV Properties (Silver Properties), AG Logistics (Silver Logistics), Coins for the Cause, Silver Bullet Silver Shield (owned by Chris Duane but claimed by Rob Gray), TSP Mint (The Survival Podcast Mint), AOCS Mint, Open Currency, Lakota Exchange, AG Trading post, ICBA: (International Commodity Banking Association) that does not exist.

At least back in 2013, von NotHaus appears to see Gray’s various business ventures as Ponzi schemes;

Need another name to keep the ponzi running? Just create another entity or a new organization like the ICBA.

This brings us to Texit Coin’s launch in May 2024. I’m not 100% sure on when but the MLM side of Texit Coin launched later (early 2025?).

Texit Coin operates from two website domains:

1. texitcoin.org – privately registered on January 5th, 2024
2. minetxc.com – registered in April 2024, private registration last updated on March 12th, 2025

Texit Coin provides a McKinney, Texas corporate address on its website. The address appears to be residential in nature.

This tracks with Texit Coin’s official FaceBook page being managed out of the US:

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

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

While ShoppyShop’s website does have an “about us” section, the company instead uses it to market its business model.

Further research reveals ShoppyShop promoters citing Kauri Thompson as CEO of the company. This is confirmed on Thompson’s personal FaceBook page:

Why Thompson’s executive role and ShoppyShop ownership info is hidden from consumers is unclear.

Kauri Thompson popped up on BehindMLM’s radar in 2013, as a hacking target in the Visalus espionage scandal.

Circa 2012 Thompson was a Visalus promoter. Thompson informed Visalus he was leaving for Ocean Avenue in late 2012 and became a target.

By 2015 Ocean Avenue was going by JM Ocean Avenue and looked nothing like it did in 2012. Following mass resignations, JM Ocean Avenue collapsed sometime after.

Since then Thompson appears to have joined a new MLM every few years;

B-epic (executive until 2020, promoter after):

APLGO (2022):

And Touchstone Essentials (2023):

Thompson appears to have ditched Touchstone Essentials sometime in 2024.

ShoppyShop’s website domain (‘shoppyshop.com”), was first registered in July 2020. The private registration was last updated on August 7th, 2025.

ShoppyShop’s website domain was presumably only recently acquired, with the company launching in July 2025.

A corporate address on ShoppyShop’s website corresponds to a residential property in Corinth, Texas.

Given CEO Kauri Thompson is based out of Utah, whether ShoppyShop’s Texas residential corporate address has anything to do with the company is unclear.

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…]

BG Wealth Sharing fails to provide verifiable ownership or executive information on its website.

The only name attached to BG Wealth Sharing on its website is founder “Professor Stephen Beard”:

Stephen Beard doesn’t exist outside of BG Wealth Sharing’s website and is assumed to be a fictional identity.

BG Wealth Sharing operates from three known website domains:

1. bggp.vip – privately registered on November 30th, 2024
2. dsjzn.com – private registration last updated on August 30th, 2025
3. dsjlc.com – private registration last updated on August 30th, 2025

Despite existing for less than a year, on its website BG Wealth Sharing falsely claims it was founded in 2018.

BG Wealth Sharing is intertwined with DSJ Exchange (aka DSJEX), a fake trading platform:

BG Wealth Sharing’s website funnels prospective investors to DSJ Exchange’s constantly changing website domains. DSJ Exchange’s website exists solely to funnel visitors toward downloading a dodgy app of unknown origin.

It’s obvious the same people behind BG Wealth Sharing are running DSJ Exchange.

DSJ Exchange operates from four known website domains:

1. dsj58.com – privately registered on November 3rd, 2024
2. dsjex.com (Cloudflare already flagged for fraud) – privately registered on May 14th, 2019
3. dsj011.com (Cloudflare already flagged for fraud) – privately registered on April 29th, 2025
4. dsjex112.com (Cloudflare already flagged for fraud) – privately registered on August 27th, 2024

It’s highly likely DSJ Exchange has other website domains in rotation.

In an attempt to appear legitimate, BG Wealth Sharing touts SEC registration of BG Wealth Sharing LTD.

BG Wealth Sharing LTD is a Colorado shell company, registered by “Fong Sam International accounting firms” on April 13th, 2025.

The corporate address provided for BG Wealth Sharing LTD belongs to PostNet, a virtual mail provider.

“Fong Sam International accounting firm” doesn’t appear to exist. The Colorado address provided for the purported firm belongs to Colorado Registered Agent.

On its website Colorado Registered Agent pitches virtual office services and “business formation services”.

We’ll revisit BG Wealth Sharing LTD’s purported SEC registration in the conclusion of this review.

If we look at the source-code of BG Wealth Sharing’s website, we find Chinese:

This suggests, as opposed to the US, whoever is running BG Wealth Sharing and DSJ Exchange has ties to China.

BG Wealth Sharing LTD and DSJ Exchange have already attracted the attention of financial regulators.

The UK’s Financial Conduct Authority issued a BG Wealth Sharing and DSJ Exchange securities fraud warning on May 7th, 2025.

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…]

Although it’s presented as a third-party company, T7X is also credited as being behind Trusted Smart Chain’s blockchain.

This is from Trusted Smart Chain’s website FAQ;

The founder of T7X also established and launched the Trusted Smart Chain blockchain to provide a secure and compliant foundation for RWA trading across decentralized platforms.

“RWA” stands for “real world assets”. This ties into T7X presenting itself as a “gateway to real world asset investing”.

Trusted Smart Chain runs a node investment scheme, through which investors receive “daily token rewards” after investing in TSC token node positions.

The marketing ruse is profits are generated through “real world asset tokenization” – which brings us back to T7X.

So who’s running T7X and Trusted Smart Chain, and why is it a problem? [Continue reading…]

Hubert Freidl’s Lyoness pyramid scheme has collapsed.

Last week both the myWorld and Lyconet websites were disabled.

Lyoness’ corporate website, hosted on “lyoness.com”, has also been disabled.

myWorld’s official FaceBook page is still up but hasn’t been updated since August 6th.

The official Lyconet FaceBook page was last updated on July 25th. The post has 219 comments, most of which are complaints from consumers. [Continue reading…]

The FTC has accused Iyovia co-founder Christopher Terry of dissipating over $6 million in assets.

The FTC alleges Terry’s actions violate the Iyovia preliminary injunction granted on August 12th.

In an emergency motion filed on August 28th, the FTC requested the court direct Terry to explain why he shouldn’t be held in contempt. [Continue reading…]

Iyovia has received an investment fraud warning from from Chile’s Financial Market Commission (CMF).

CMF included Iyovia in a list of unregistered investment schemes, published on August 5th, 2025. [Continue reading…]

Be Club has received a securities fraud warning from the Ontario Securities Commission (OSC).

The OSC issued its Be Club warning on August 27th, noting company names Be Royal Family Trading and Be Trading Group. [Continue reading…]

ToFro has received a Ponzi fraud warning from Nigeria’s Securities and Exchange Commission (SEC).

As per the SEC’s April 30th, 2025 ToFro warning; [Continue reading…]