After receiving an abusive comment on one of BehindMLM’s articles covering the collapsed RBCG Bank Ponzi, I took it upon myself to see what Laurie Suarez has been up to.

Turns out after RBCG Bank, Suarez went on to launch another MLM crypto Ponzi scheme. Two of them actually. [Continue reading…]

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

SwapIT’s website domain “swapit.io” was privately registered on September 2nd, 2019.

Further research reveals Eric Alexandre Ceret credited as SwapIT’s founder and CEO:

Alexandre is your typical crypto bro, complete with a string of failed crypto projects.

JetCoin (not to be confused with the Ponzi scheme of the same name), is Alexandre’s crypto claim to fame.

Launched in mid 2017, JetCoin immediately dumped. In early 2018 there was a pump to just over $1, after which pumped to just over $1 before flatlining to 1 to 2 cents.

JetCoin is currently at six cents, which we’ll discuss in the conclusion of this review.

Someone else of note in SwapIT’s corporate team is Rune Evensen.

Evensen is a serial scammer dating back to the Unaico SiteTalk days. Evensen fronted Unaico/SiteTalk’s reboot, The Opportunity Network.

Through those connections (Dan Andersson, Sebastian Greenwood and Kenny Nordlund), Evensen has ties to the notorious OneCoin Ponzi scheme.

I’m glossing over Evensen’s scamming, which definitely didn’t slow down after OneCoin, by skipping to the last scam he was tied to.

BehindMLM reader Semjon tied Evensen to Snap Innovations, through some bullshit crypto company going by Coss.

Circa February 2019, Eversen was CEO of Coss.

Snap Innovations is/was a crypto Ponzi factory. The company is best known for Torque Trading, an MLM crypto Ponzi that scammed people out of millions.

According to their respective social media profiles, Eric Alexandre Ceret and Rune Eversen are both based out of Singapore.

Whether there are other notable SwapIT executives 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…]

Polish prosecutors have seized $6.4 million from Lyoness’ bank accounts.

The accounts were held with ING Bank Slaski SA and contain a mix of euros and zloty (PLN). [Continue reading…]

OneCoin money launderer David Pike has pled guilty to one count of bank fraud.

As per a Consent Preliminary Order of Forfeiture, presented at Pike’s October 19th plea control hearing, he is also subject to a $2.09 million dollar judgment. [Continue reading…]

BloxTec is informing affiliates they need to pay a fee if they want to withdraw.

This is known as an “advanced fee” scam, where funds are held hostage unless additional fees are paid. [Continue reading…]

Assure For Life provides no information on their website about who owns or runs the company.

Assure For Life’s website domain (“assureforlife.com”) was first registered in 2016. The registration was last updated in May 2019.

On LinkedIn Assure For Life claims to be ‘a 67 year old international product that provides protection to 250,000 families in the Americas.’

On its website Assure For Life claims to be 70 years old.

This is odd considering the company only existed online as of 2016.

“Protecci\u00F3n Plenitud” is listed as the owner of Assure For Life’s website domain, through an incomplete address in Florida.

This appears to match up Assure For Life providing a Doral, Florida corporate address on their website.

Well, sort of. The address provided on Assure For Life’s website is a virtual address provided by Davinci Virtual.

I wasn’t able to make sense of what “Protecci\u00F3n Plenitud” is. The string appears on weird text files if you search for it.

Update 20th October 2021 – Jon in the comments below has revealed “Protecci\u00F3n Plenitud” corresponds with Proteccion Plenitud, Inc., a Florida company incorporated in 2005. /end update

The only executive that features in Assure For Life’s marketing is Commercial Manager Sandra Chica.

Be it a sixty-seven or six year old MLM company, not providing executive information is a 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…]

HyperFund is under regulatory investigation by Germany’s Federal Financial Supervisory Authority (BaFin).

As per an announcement issued on October 19th, BaFin has categorized HyperFund as an “unauthorized business”. [Continue reading…]

The OneLife Earth scammers have released a new DeepFakes Ruja Ignatova video, this time targeting Chinese speakers. [Continue reading…]

Mining City has disabled affiliate withdrawals.

Starting October 16th, Mining City will only allow affiliates who’ve completed KYC to withdraw. [Continue reading…]

TriumphFX has received a securities fraud warning from the Monetary Authority of Singapore (MAS). [Continue reading…]