Nugen Coin Review: Free Mart gets into crypto fraud
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 Review: 1.5% a day, 300% ROI MLM crypto Ponzi
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…]
Royal Q securities fraud warning from Spain
Royal Q has received a securities fraud warning from Spain’s Comision Nacional del Mercado de Valores. [Continue reading…]
How the FBI took down EminiFX & Eddy Alexandre
On May 12th EminiFX founder and CEO Eddy Alexandre was arrested.
The bust was part of a joint operation between the DOJ and CFTC. Part of that operation was an FBI sting that began in or around March 2022.
In this article we examine how the FBI took down Alexandre and, following his arrest, what happens next. [Continue reading…]
CFTC secures EminiFX restraining order against Eddy Alexandre
The CFTC has secured injunctive relief against EminiFX and owner Eddy Alexandre.
Unsealing of the CFTC’s case today confirms Alexandre is facing both civil and criminal fraud charges. [Continue reading…]
Attiora Ponzi scheme collapses, website & socials gone
The Attiora Ponzi scheme has collapsed.
Over the past 24 hours the company’s website has been nuked. Attiora’s social media accounts have also been deleted. [Continue reading…]
Fugitives hold up OneCoin criminal proceedings in Italy
Two unnamed fugitives are holding up OneCoin criminal proceedings in Italy.
A June deadline has been set, after which proceedings against the two fugitives will be separated from the main case. [Continue reading…]
COTP withdrawal delays, lies about TRON network congestion
COTP affiliate investors have begun reporting withdrawal problems.
Rather than just be honest about running out of funds to cover withdrawals, COTP are blaming congestion on the TRON network.
There have been no recent reports of congestion on the TRON network. [Continue reading…]
MetaFi Yielders withdrawal problems after 4.2% a day offered
On May 5th Metafi Yielders introduced a new 4.2% a day investment plan.
Accomplice CEO Michael Daher confirmed this was an attempt to keep funds trapped in the system.
On May 6th, Metafi Yielders affiliates began reporting withdrawal problems.
EminiFX founder and CEO Eddy Alexandre arrested in New York
EminiFX founder and CEO Eddy Alexandre has been arrested for commodities and wire fraud.
The DOJ alleges EminiFX was a $59 million dollar Ponzi scheme. [Continue reading…]
