OmegaPro has been declared a fraudulent online trading platform in Belgium.

The Financial Services and Markets Authority’s May 5th warning follows ‘complaints from consumers concerning new fraudulent online trading platforms that are operating in the Belgian market.’ [Continue reading…]

Someone claiming to be Mirollex CEO Andrea Kral has appeared in a video.

In the video, uploaded to a purpose specific YouTube channel, the individual claims he’s an actor. [Continue reading…]

Following reports of Trading Insight not paying withdrawals a week ago, the Ponzi scheme has now officially collapsed.

Trading Insight’s collapse follows an April 26th BehindMLM review exposing the company’s Boris CEO. [Continue reading…]

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

A marketing PDF file linked from ProCash’s website identifies Rolando Mendoza as CEO of the company.

According to his LinkedIn profile, Mendoza is based out of Lima, Peru. Mendoza’s Facebook profile places him in Bolivia.

Other than posting a bunch of boomer personal development memes on Facebook, Mendoza (right) doesn’t appear to have been up to much recently.

I was unable to put together his MLM history, suggesting he’s either been inactive or promotes in private.

Alexa traffic estimates suggest ProCash is currently being promoted in Cuba (60%) and Honduras (26%).

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

Affluence Network, not to be confused with The Affluence Network, operates in the cryptocurrency MLM niche.

The company doesn’t provide any contact details on its website.

Heading up Affluence Network is Boris Smitski.

Smitski has a distinctly European accent however I’m having trouble placing it. It’s not as obvious as the eastern European accents we typically see with Boris CEOs.

In one Affluence Network marketing video, Smitski claims he’s ‘been working in the world of finance for the past fifteen years.’

In trying to verify this claim (which I couldn’t), I came across Golden Cash.

The ruse behind Golden Cash is an investment opportunity supposedly backed by jewelry stores in Turkey.

Curiously, Smitski is presented as Golden Cash’s “head of sales on forex”.

He’s also apparently an “American entrepreneur”:

From the accent alone this is quite obviously bullshit (along with the rest of the bio).

How do I know this?

Here’s a photo of “Boris Smitski” attending a “space love” themed event at Arma17, circa 2014:

Arma17 is a nightclub in Moscow, Russia.

Golden Cash’s business model was simple: invest $100 to $50,000 and collect a weekly ROI:

As to who’s really running Golden Cash, the company’s official Facebook page points to Ukraine.

As above, Golden Cash launched in late 2020. Alexa traffic charts to Golden Cash’s website suggest the Ponzi scheme collapsed a while back.

Now comes a Golden Cash reboot in the form of Affluence Network.

Same Russian/Ukrainian scammers and the same Russian actor playing CEO.

The only difference between Golden Cash and Affluence Network is the introduction of cryptocurrency.

Oh, and Smitski’s fictional corporate bio was also rewritten:

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…]

Regulation of Ponzi schemes in South Africa is strange.

Recently we had the collapse of Mirror Trading International. Whilst South African authorities continue to do nothing, victims of the scheme have taken it upon themselves to launch liquidation proceeds.

MTI’s collapse promoted the collapse of Finalmente Global, another South African Ponzi scheme. It is highly likely that there was investor crossover between the two scams.

Again, same story. South African regulators doing nothing, leaving it up to victims to initiate liquidation proceedings. [Continue reading…]

Two money launderers tied to the Recylix Ponzi scheme have been sentenced to prison. [Continue reading…]

Matt Bot AI operates from the domain “mtai.vip”.

The domain was registered with incomplete bogus information on December 30th, 2020.

At the time of publication Matt Bot AI’s website is nothing more than an affiliate login page, presented in default Chinese:

English is a selectable option, which brings us to Matt Bot AI’s promotion.

Matt Bot AI is primarily promoted to English-speaking potential investors via 10X Crypto Traders.

On Meetup 10X Traders is based out of California and represented by a group of 929 members.

The organizer of the group is Cliff Townsend:

As above, Townsend’s Meetup profile places him in Florida.

Outside of 10X Crypto Traders, Townsend doesn’t have much of a digital footprint.

In this absence of official marketing material provided, this review relies on Matt Bot AI presentations uploaded to 10X Crypto Traders’ YouTube channel.

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…]

John DeMarr’s Bitcoiin indictment was filed on March 23rd, 2021.

The indictment details four counts of fraud, pertaining to DeMarr’s involvement in Bitcoiin and Start Options. [Continue reading…]

It’s been seven months since our last Saivian update. The case has been progressing but up until now there hasn’t been any significant events.

On May 3rd a joint motion was filed requesting a stay on the SEC’s Savian fraud case.

The stated reason for the requested stay was mediation. [Continue reading…]