EvoRich founder and CEO Andrey Khovratov has been arrested in Russia.

Authorities in Tagansky, a district in Moscow, have charged Khovratov with three counts of fraud. [Continue reading…]

Given the current global situation, some of you probably saw this coming a mile away:

A reader sent in a recent livestream by Candace Byrd Davis. In it she’s promoting “Fuel Factor X”.

None of this is really newsworthy on its own, but then a specific pitch from Davis caught my attention. [Continue reading…]

Paraiba has received a second securities fraud warning from Austria’s Financial Market Authority (FMA).

The FMA is Austria’s top financial regulator (SEC equivalent). [Continue reading…]

Avazoo operates in the gambling MLM niche. The company is headed up by Chairman Hans Reinisch.

Avazoo is proud to be led by Dr. Hans Reinisch, Avazoo’s Chairman of The Board.

Dr. Reinisch has a proven track record of over 25 years, holding CEO positions worldwide in Europe, Australia, The Caribbean and the United States.

In one of his Top Fortune 500 enterprises, he served as the Managing Director and CEO of EMI Music/Capitol Records in Europe.

Reinisch is represented on Avazoo’s website by what appears to be an old photo with Jay Leno.

This struck me as odd.

According to his LinkedIn profile Reinisch is based out of Florida. He lists involvement in Avazoo dating back to 2012.

At time of publication Avazoo’s official YouTube channel has sixty videos. None of the titles mention Hans Reinisch.

Considering he’s presented as the face of Avazoo, this also struck me as odd.

One recent video uploaded to Avazoo’s channel caught my eye; “Company Update”.

The video was almost a half hour in length. Not wanting to risk changes outdating my review as soon as it was published though, I queued it up.

The first thing I noticed was the video’s description:

Avazoo Founder & COO Dave Cutler will be Live at 8:00 PM New York Time (EST) with the Company Update, sharing essential and key updates regarding Avazoo.

Hmm. That’s not Hans Reinisch.

So who’s Dave Cutler?

According to his LinkedIn profile, he’s the CEO of AppTech Gateway and based out of Las Vegas, Nevada.

In 2004 the FTC sued a David G. Cutler for operating “an illegal business opportunity”.

One of the companies involved in the scheme, B&C Ventures, Inc., was based out of Nevada.

That alone though isn’t enough to confirm this was Avazoo co-founder Dave Cutler.

In addition to Cutler, the FTC sued Cindy Gannon, Paul D. Bonnallie, Tisa Christiana Spraul, and Michael J. Hatch.

Paul Bonnallie appears in a photo with Cutler in a $300 Avazoo advertising spot on Black Tie Magazine:

Tisa Christiana Spraul is head of Avazoo’s Global Operations:

I wasn’t able to confirm whether Cindy Gannon or Michael Hatch have anything to do with Avazoo.

Three of the five defendants the FTC sued for fraud in 2004 however are involved.

Theeeeeeeeey’re back.

I’m not sure exactly how much actual involvement Hans Reinisch has in Avazoo. At least on the surface he appears to be nothing more than a token executive for Avazoo’s website.

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

BitPlam has received a pyramid fraud warning from Russia.

Which is a bit odd, seeing a BitPlam is supposed to have collapsed last November. [Continue reading…]

Paraiba World has received a securities fraud warning from FINMA.

FINMA is Switzerland’s stop financial regulator (SEC equivalent). [Continue reading…]

South Africa’s FSCA has issued a Gift of Legacy warning. The warning follows enquiries from the South African public.

As per the FSCA’s March 23rd warning, which followed enquiries from the public, the regulator confirms Gift of Legacy isn’t committing securities fraud.

This would be a violation of South Africa’s Financial Advisory and Intermediary Services. [Continue reading…]

EON operates in the MLM cryptocurrency niche.

The company is headed up by George Goodman.

Goodman made his MLM debut in 2020 as President and CEO of Xifra.

Xifra is a Ponzi scheme that markets 200% returns on investments of up to $100,000.

Other than appear in a few promo videos, Goodman didn’t do much and disappeared shortly after launch.

As per EON’s marketing material;

The Mexican-American George Goodman, recognized as a visionary and pioneer of finance, launches his new platform to the world on February 18, 2022 from the city of Guadalajara.

Guadalajara is in Mexico, which fits with Xifra being a Mexican Ponzi scheme.

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

Alexander Hernandez has announced IX Inversor’s collapse, claiming the company has gone into liquidation.

The announcement was made earlier this week on Monday, on an official corporate webinar. [Continue reading…]

Edain has received a pyramid scheme fraud warning from the Central Bank of Russia.

As per the CBR’s March 30th warning, Edain “exhibits signs of a financial pyramid”. [Continue reading…]