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…]

Two procedural updates in the Isagenix Amazon retail racket case, filed just over a year ago.

The first update pertains to individual arbitration being granted to individual defendant Jay Bennett.

The second update is Isagenix and the individual defendants failing to get the lawsuit dismissed. [Continue reading…]

As a result of ongoing securities fraud violations QubitLife, formerly QubitTech, has been added to Malaysia’s investor alert list.

We’re a bit late on this one as Malaysia’s securities commission added QubitTech late last year. [Continue reading…]

QubitLife, formerly QubitTech, has received a securities fraud notice from the Securities Commission of the Bahamas.

As per the the SCB’s 19th March notice; [Continue reading…]

Wiseling has received a securities fraud notice from the Securities Commission of the Bahamas.

It should be noted what the Wiseling collapsed last month. The Ponzi scheme’s CEO, Matias Lappo, has been outed as an actor from St. Petersburg. [Continue reading…]

Karatbars International has received a securities fraud notice from the Securities Commission of the Bahamas. [Continue reading…]

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

Incomatrix’s website domain “incomatrix.io” was privately registered on November 16th, 2020.

Alexa began recording traffic to Incomatrix’s website in late January 2021.

At the time of publication the only notable source of traffic is Bangladesh (18%).

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…]

As part of his defense against WorldVentures seeking a preliminary injunction against him, former President Eddie Head filed a declaration on March 24th.

Head is joined by Byron Schrag, Izhak Ben Shabat, Matt Morris and Muzafer Najfi, who each filed separate declarations a day earlier on March 24th.

• Kenneth “Eddie” Head – hired by WorldVentures in 2007, served as Creative Director, Vice President of Marketing, President of Americas, Co-President and President, resigned in January 2021, now President of Seacret Direct
• Byron Schrag – joined WorldVentures in 2005, Team Leader and President’s Advisory Council member, still paying WorldVentures subscription but now a Seacret Team Leader
• Izhak Ben Shabat – Seacret co-founder and CEO
• Matt Morris – joined WorldVentures in 2007, Team Leader and President’s Advisory Council member, still paying WorldVentures subscription but now a Seacret Team Leader
• Muzafer Najfi – hired as Vice President of Field Development at Seacret in 2015, left that role to become a Seacret Agent in Jan 2018 (still appears to be more than an Agent based on his declaration though)

I felt as co-founder and CEO of Seacret that Izhak Shabat’s declaration deserved its own write up.

Seeing as there’s considerable overlap between Shabat’s declaration and the other four, I felt it’d be more useful to group main themes and the relevant text from each declaration.

I’ve headlined these themes below in no particular order. Together they provide inside into WorldVentures collapse and eventual bankruptcy, from five distinctly different perspectives. [Continue reading…]

Izhak Ben Shabat, co-founder and CEO of Seacret Direct, has filed a lengthy declaration detailing WorldVentures’ collapse and the months leading up to it.

Shabat’s declaration was filed in support of Eddie Head, who is a defendant in proceedings initiated by WorldVentures. [Continue reading…]