Class-action defendants OneCoin, Ruja Ignatova and Gilbert Armenta have had entries of default recorded against them. [Continue reading…]

Back in 2017 Youngevity launched Saveur, a “unique line of spices inspired by cuisines from around the world”.

In March 2019 JRJR33, through Spice Jazz LLC, filed a fraud lawsuit against Youngevity.

In their lawsuit Spice Jazz accuses Youngevity of “destroying then stealing” their business. [Continue reading…]

Changes announced by Mirollex over the past twenty-four hours suggest an exit-scam is underway. [Continue reading…]

As part of Ruja Ignatova’s quest to sidestep finance regulations and avoid regulatory attention, Sheikh Saoud bin Faisal bin Sultan Al Qassimi sold her an Emirates banking license.

The deal took place in September 2015 for $16 million USD. [Continue reading…]

i-Fern operates in the health and nutrition MLM niche.

The company as it exists today launched in 2005 and is based of the Philippines.

Heading up i-Fern is co-founder, President and CEO, Tommanny Tan.

Tan’s i-Fern corporate bio is light on details. It states;

For many years, Tan’s family has been involved in trading and importing goods.

He practically grew up in a household where kids are told to study harder to be successful in the field of business.

Sounds like any south-east Asian household.

I was able to piece together a bit more from a bio published in Business World Online, quoted in a 2012 issue of “AIM Leader”;

When Tan eventually took over the family’s import and manufacturing business … (he) was able to implement operational changes that boosted productivity, immediately increasing production efficiency thirty-fold.

In 2003 … Tan joined a colleague in a business that distributed clothes, shoes, beauty products, and a “non-acidic” form of vitamin C.

The company, Filipino Entrepreneurs and Resources Network (or FERN), encountered financial difficulties in 2004.

Rather than leaving the company, Tommanny Tan saw this as an opportunity to take over.

The bio goes on to state Tan took “over as President and CEO in 2005”.

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

A report from Kuwait’s Ministry of Interior alleges ties between OneCoin, Ruja Ignatova and “terrorist groups”.

The leaked 2015 report, put together by the MOI’s Criminal Investigation General Department and marked “extremely confidential”, identifies Ignatova as [Continue reading…]

A Suspicious Activity Report from Mashreq Bank has provided insight into OneCoin’s ~2015 banking woes.

The report, filed by the Mashreq Bank’s Audit, Fraud & Compliance Group, is dated September 1st, 2015.

Affected customers listed are [Continue reading…]

The Philippines SEC has issued a securities fraud advisory against CashFX Group. [Continue reading…]

iBG Finance operates in the cryptocurrency MLM niche.

The company provides a corporate address in Seychelles on its website. Further research reveals the same address tied to dozens of shell companies, suggesting iBG Finance has no physical presence in Seychelles.

Heading up iBG Finance is co-founder Vin Menon (right).

iBG Finance’s other co-founders aren’t disclosed. This is a red flag.

According to his LinkedIn profile, Menon is based out of Singapore. As opposed to Seychelles, this is likely where iBG Finance is being operated from.

I wasn’t able to put together an MLM history on Menon. As per his LinkedIn profile though, Menon has a background in IT.

Menon appears to have rebranded as a blockchain bro mid 2018. The typical string of failed cryptocurrency projects followed, leading up to iBG Finance’s launch last month.

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

Following coverage of Lado Okhotnikov announcing a Forsage Binance Smart Chain reboot a fortnight ago, details have emerged.

The reboot is going by Forsage BUSD and is the fifth Ponzi scheme launched under the Forsage brand.

Forsage BUSD follows Forsage, Fortron, Forsage Tron and Forsage XGold – all of which have collapsed.

Okhotnikov is believed to run his Forsage Ponzi schemes from Russia.

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