We last checked in on the GTI-Net Ponzi scheme back in April 2019.

At the time the Ponzi scheme had just rebooted as Global Technologies & Innovation.

The reboot came after GTI-Net lost an appeal against Belgium’s FSMA financial regulator. [Continue reading…]

Blockchain Capital operates in the cryptocurrency MLM niche.

The company provides a corporate address in St. Vincent and the Grenadines on its website.

The address belongs to Wilfred International Services, who provide “International Business Formation” (shell companies) and a virtual office address service.

Needless to say Blockchain Capital exists in St. Vincent and the Gernadines in name only.

Blockchain Capital actually appears to be run from Russia.

Supporting this is Kazan, Russia provided as a posting location on Blockchain Capital’s official Twitter profile (lit: Казань, Россия).

Blockchain Capital has a VK profile. vKontakte is a Russian social media Facebook clone.

Marketing videos on Blockchain Capital’s official YouTube channel are primarily in… you guessed it, Russian:

Blockchain Capital’s website source-code is also riddled with Russian:

Heading up Blockchain Capital are co-founders Zinnat and Arthur Husnullin.

No information about either Husnullin is provided on Blockchain Capital’s website.

I went looking for independent information and came up blank. This could be a language barrier but neither Zinnat or Arthur Husnullin appear to exist outside of Blockchain Capital.

Both Husnullins feature in Blockchain Capital’s marketing videos.

Arthur seems to know what he’s talking about but Zinnat comes across as a Boris CEO.

Blockchain Capital’s website domain (“blockchaincapital.pro”), was privately registered in October 2017.

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…]

After failing to respond to the FTC’s filed complaint, Digital Income System defendants Brandon Frye and Kaitlyn Scott have received default judgment orders.

Frye is up for $600,000, Scott for $171,500. [Continue reading…]

The Six Sigma Trade Ponzi scheme has collapsed.

The company’s website is still up however all of its YouTube marketing videos have been deleted. [Continue reading…]

Back in late 2019 CashFX Group held a “Grand Launch” event in Panama.

Present at the event were CashFX Group’s supposed traders; Hildo Emerenciana, Javier Leito, John Wilson and John Loefstop.

The above is what CashFX’s “about” page on its website looked circa January 2020.

When people started asking questions, CashFX Group removed all executive information from its website.

Hosting the Panama event was Edwin Abad, CashFX Group’s VP Trading of Operations [sic]. [Continue reading…]

In its latest attempt to pitch its Ponzi scheme, Josip Heit’s GSPartners attempts to insert itself into the COVID-19 vaccination passport discussion. [Continue reading…]

In a complaint filed on March 30th, travel merchant Viva Voyage has accused WorldVentures of “illegal conduct (that) greatly endangers the public”. [Continue reading…]

A visit to UpMoney’s website reveals no specifics about the company’s business model.

Instead, prospective affiliates are told they can ‘turn twenty Rands into groceries and R500, daily.’

How?

By recruiting new UpMoney affiliates who pay R20, who recruit new affiliates who pay R20 etc., etc.

Weaved into this are grocery products:

Rendering UpMoney a readily identifiable product-based pyramid scheme.

On the “about us” section of UpMoney’s website, no company ownership information is provided.

For that information you have to head over to UpMoney’s official YouTube channel. It’s not directly linked from UpMoney’s website either.

Or you could turn to media reports calling out UpMoney as a pyramid scheme, dating back to mid last year. [Continue reading…]

CubeBit appears to be gearing up for a third reboot of its Ponzi scheme.

Well, they’re trying to anyway. [Continue reading…]

South African authorities have recovered approximately 1200 BTC, held in an account belonging to Mirror Trading International.

The account was held with FXChoice, who MTI appear to have hoped to launder the stolen funds through. [Continue reading…]