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 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 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…]

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

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 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 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 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…]

Scentsy operates in the candles, essential oils, home care and personal care MLM niches.

The company was founded in 2003 in Utah by Kara Egan and Colette Gunnell.

After coming across it at a trade show in Utah, current owners Orville and Heidi Thompson purchased Scentsy in 2004.

The Thompson’s (right) moved Scentsy to their home state, Idaho.

Prior to purchasing Scentsy, the Thompsons claim they were “swimming in debt after a string of unprofitable business ventures.”

As per an interview with Idaho News 6 in 2018, at the time Orville Thompson was “selling car waxes and shammies”.

Heidi recalls, “[Orville] ended up coming to me and saying this is where we are, $700,000 plus in debt.”

Things were so dire, says Orville,”…that we’re now dumping the change out of our big water jug in the coinstar machine to buy groceries.”

Scentsy has since gone to generate hundreds of millions of dollars in annual sales.

The DSN have pegged Scentsy’s 2020 annual revenue at $893 million, up from $472 million the year prior.

Under regular circumstances Orville and Heidi Thompson run Scentsy as co-CEOs.

Earlier this year the Thompsons announced that, as of June, they are ‘taking a break to serve a three-year mission with their church.’

The Thompsons … will spend three years in London with the Church of Jesus Christ of Latter-day Saints.

While they’re gone Scenty President, Dan Orchard (right), is serving as interim CEO.

Scentsy has not had any regulatory run-ins across its seventeen years in business.

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

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

EcoTrade’s website domain (“ecotradeapp.com”) was privately registered on April 1st, 2021.

I came across EcoTrade as part of my research into Speed Finance Club.

These Ponzi schemes are run by the same group of individuals, who are tied to the Tendencia Trading YouTube channel.

These scammers appear to be located across Brazil, the Dominican Republic and Venezuela.

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…]