Onward Capital has collapsed.

Access to the Ponzi scheme’s website has been disabled, resulting in a HTTP error.

At the time of publication Onward Capital’s social media accounts are still up, although these are expected to be disabled soon. [Continue reading…]

Around the same time US authorities began looking into OneCoin, Dubai’s General Department of Criminal Investigations raised money laundering concerns.

How the parallel investigations concluded however, couldn’t be any more different. [Continue reading…]

Elamant has been rebooted as an eDuCaTiOn PlAtFoRm.

Underneath the marketing pitch is the same Ponzi scheme people have been losing money to since 2018. [Continue reading…]

The Central Bank of Cuba, the country’s top financial regulator, has issued a warning targeting several MLM Ponzi schemes.

Scams cited in the Central Bank’s May 13th warning include; [Continue reading…]

Trust Investing Director Ruslan Concepcion has been arrested by Cuban authorities.

Concepcion was apprehended on April 22nd, attempting to board a plane bound for Russia. [Continue reading…]

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

On the contact page of Twindax’s website these two photos appear:

Chris Walker and Ashton Taylor don’t exist outside of Twindax. This suggests the photos used are either stolen from social media or computer generated.

In the news section of Twindax’s website there’s an April 12th “News Conference” entry.

Dear clients of the company!

On April 30, 2021, the company will organize the first online conference.

The company’s development plans for 2021 will be announced at the conference.

Schedule of the following events, as well as disclosure of the main concepts of the company. Disclosure of the main marketing strategy.

Conference hosts: CEO Chris Walker and Ashton Taylor.

Doesn’t look like that conference went ahead, for what should be obvious reasons.

Twindax’s website domain (“twindax.com”) was privately registered on March 25th, 2021.

In an attempt to appear legitimate, Twindax provides an ASIC certificate for Twindax Pty Ltd.

ASIC are known for non-regulation of MLM fraud. Furthermore anyone can register a company with ASIC using whatever bogus details, there is no verification.

For this reason ASIC registration is favored by scammers residing outside of Australia.

With respect to MLM due-diligence, ASIC registration certificate as proof of legitimacy is therefore meaningless.

In addition to the ASIC certificate, Twindax provides a corporate address in Australia.

This address belongs to Regus, a third-party company selling virtual office addresses.

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…]

Monk Trading Investment provides no information on its website about who owns or runs the company.

Monk Trading Investment’s website domain (“monktradinginvestment.com”) was privately registered on January 19th, 2021.

Despite not existing until a few months ago, Monk Trading Investment claims it was founded in 2014.

Monk Trading also falsely represents basic UK incorporation as making it

a registered investment company and also licensed by the United Kingdom Government.

UK incorporation is dirt cheap and effectively unregulated. It is a favored jurisdiction for scammers looking to incorporate dodgy companies.

Securities in the UK are regulated by the FCA. Basic incorporation is not the same as registering with the FCA.

For the purpose of performing MLM due-diligence, basic UK incorporation is meaningless.

A YouTube channel named Monk Trading Investment Ltd has two official marketing videos.

Both are poorly narrated via text-to-voice; one in Russian and one in English.

In the third video on the left, at [1:10] the admin’s email address is revealed.

It’s not complete but there’s enough to make out the name “Theresa Ndidiamaka”.

Unfortunately I wasn’t able to link the name to a specific individual. It is worth noting though that Ndidiamaka is a Nigerian surname.

Towards the bottom of Monk Trading Investment’s website is a quote from CEO Alex Ferneld.

Needless to say this person doesn’t exist.

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…]

Following raids and asset seizures, Argentinian authorities have arrested ten individuals connected to Intense Live. [Continue reading…]

International TEFL Organization provides no information on its website about who owns or runs the company.

The company’s website footer suggests the International TEFL Organization has been around since 2002.

International TEFL Organization’s website domain however was only registered last September.

Alexa only started recording traffic to International TEFL Organization’s website in March.

International TEFL Organization’s private domain registration provides no information about its owner.

Images used on International TEFL Organization’s website are stock photos. Also I’m pretty sure the testimonial videos are stolen from other companies.

Three testimonial videos are presented. The footage is heavily edited and make no specific reference to International TEFL Organization.

In an attempt to appear legitimate, International TEFL Organization provides two corporate address on their website; one in the UK and one in Singapore.

The UK address belongs to ServCorp, a virtual office address merchant. The Singapore address belongs to Regus, another virtual office address merchant.

Needless to say neither address has anything to do with International TEFL Organization.

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…]

Last month We Share Abundance abandoned its “guaranteed minimum value” for withdrawals.

The guarantee saw We Share Abundance’s WESA token artificially pegged to a dollar amount, allowing those who invested early to withdraw subsequently invested funds.

Removing the guarantee saw WESA token’s internal value drop from $100+ to ~$5.

Rather than just admit the Ponzi scheme is over, Frame has doubled down with “WESA coin”. [Continue reading…]