Speed Finance Club provides no information on their website about who owns or runs the company.

In fact as I write this, Speed Finance Club’s website is nothing more than an affiliate login form.

Speed Finance Club’s website domain (“speedfinance.app”) was privately registered on June 30th, 2021.

Speed Finance Club’s website defaults to English but the company’s corporate documents are in Portuguese.

Speed Finance Club’s Terms and Conditions document was authored by Fram Baga in December 2020.

Looking at the source-code of Speed Finance Club’s signup page, one can see a number of assets, including the terms and conditions document, are hosted on the domain “nocookie.top”.

The NoCookie domain was privately registered in 2019, through an incomplete address in Brazil.

Hosted on the NoCookie domain is a compensation document for “EcoTrade”.

EcoTrade is a Ponzi scheme promising returns of up to 3% a day.

Based on videos posted to EcoTrade’s official Facebook group, the company is run by these two individuals:

I wasn’t able to identify the men but “Tendencia Trading” on the left led me to a YouTube channel of the same name.

There we find an EcoTrade August 25th stream featuring four individuals:

Again, likely due to language-barriers, I’ve been unable to put names to faces.

EcoTrade’s official Facebook page is managed by five individuals, four of which are in the Dominican Republic and one in Venezuela.

In any event, it seems we have a team of serial scammers who, circa June 2021 launched two passive investment opportunities.

To see what these gentlemen were up to prior to June, we turn to Speed Finance Club’s linked terms and conditions.

What you’ll notice is the T&C don’t even mention Speed Finance Club. This is the terms and conditions document for “EV+ Evolution”.

EV+ Evolution operates from “office.evmais.bet” and appears to be the precursor to both Speed Finance Club and EcoTrade.

Evmais’ website domain was privately registered in December 2020.

As per the company’s social media channels, Evmais operated out of Rio Grande do Sul in Brazil.

Evmais affiliates invested amounts in green on the left, on the promise of advertised returns in white on the right.

Web traffic is non-existent to Evmais’ website so it appears to have collapsed. The last post on Evmais’ Instagram account is dated February 1st.

Putting all of this together we surmise:

1. Evmais Ponzi scheme launches on or around December 2020.
2. Evmais collapsed on or around February 2021.
3. Tendencia Trading YouTube channel created in March 2021.
4. Scammers begin preparing Speed Finance Club and EcoTrade reboots.
5. Speed Finance Club and EcoTrade launch side by side in late June 2021.
6. Everything links back to the Tendencia Trading YouTube channel.
7. Scammers from Brazil, the Dominican Republic and Venezuela appear to be involved.

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

In December 2017, Josip Heit incorporated the shell company GSB Gold Standard Banking Corporation AG.

An August 31st filing with the Dusseldorf District Court in Germany gives us a peek into the shell companies behind GSPartners. [Continue reading…]

A lawsuit filed in California claims Calerie screwed former CEO Roy Truett out of an agreed upon salary.

Oh and Calerie co-owner Lin Yisheng might be a control freak. [Continue reading…]

JN Jewelry by Jesper Nielsen, a company operating in the jewelry MLM niche, has collapsed.

Reports from the field suggest the collapse was abrupt and has screwed affiliates out of months of earned commissions. [Continue reading…]

The Central Bank of Russia is not impressed with the size of KOK Play’s Ponzi package.

Looking to deflate Russian citizens’ excitement, the Central Bank has slipped a warning over the shaft of KOK Play’s KOK… token scheme. [Continue reading…]

Alcor Trade, dba Alcor Limited, has received a pyramid scheme fraud warning from the Central Bank of Russia. [Continue reading…]

Liyeplimal has received a joint securities fraud warning from Angola’s Comissao do Mercado de Capitais (CMC) and National Bank. [Continue reading…]

CashFX Group has received a securities fraud warning from Sweden’s Finansinspektionen.

As per Finansinspektionen’s August 9th warning, CashFX Group [Continue reading…]

BixoTrade was a Ponzi scheme that pitched returns as high as 500% over 200 days.

Launched in January 2021, BixoTrade collapsed in July. [Continue reading…]

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

In fact as I write this, Algotech’s website is nothing more than an affiliate login/registration form.

Algotech’s website domain (“algotech.to”) was privately registered on August 17th.

.TO domains correspond to Tonga and by default are private. This is likely an intentional choice by Algotech’s owner(s).

In Algotech’s terms and conditions the shell company “Leiwus AB” is referenced:

This agreement applies as between you, the User of this Web Site, and Leiwus AB 559062-2451 the owner(s) of this Web Site.

These terms and conditions and the relationship between you and Leiwus AB shall be governed by and construed in accordance with the laws of Sweden

As above, Leiwus AB appears to be a Swedish shell company. Corporate records reveal Leiwus AB was set up in 2016 by Klas Magnus Nilsson.

Possibly due to language-barriers, I wasn’t able to pull anything up further on Nilsson.

In the absense of any named executives, it is assumed Nilsson owns or is part owner of Algotech.

Further research reveals marketing material citing Daniel Grenon as Algotech’s Master Distributor.

Daniel Grenon has a long history of promoting MLM Ponzi schemes.

Grenon was last named in a May 2020 review of BetPlay365. As per BetPlay365, the company was operated by Global Game Arena, a Ponzi scheme Grenon co-founded in early 2019.

Global Game Arena collapsed in two weeks, prompting Grenon to cash out and do a runner.

Prior to Global Game Arena, Grenon co-founded the FXTV Global Ponzi scheme in September 2019.

Other Ponzi schemes Grenon has promoted include Worldwide Cryptocurrency Investment, CGI Limited and OneCoin.

Grenon’s social media suggests he was at the very least promoting Global Game Arena’s fourth reboot, Daxio.

That was in June 2020. Four months earlier Grenon signed on as an International Ambassador for Ascira.

For Grenon this was an evidently rare but brief departure from Ponzi schemes.

Daxio flopped and Grenon began promoting OmegaPro on or around October 2020.

Grenon was still promoting OmegaPro as of February 2021. Sometime after he cashed out, and here we are with Algotech.

I’d be surprised if Grenon didn’t own or, at the very least, wasn’t involved in the running of Algotech.

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