The National Bank of Slovakia (NBS) has issued a securities fraud warning against Crowd1.

The NBS operates as  is Slovakia’s top financial regulator. [Continue reading…]

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

Coin Gain’s website domain (“congain.app”) was privately registered on August 30th, 2020.

At the time of publication Alexa ranks Argentina (8%), Venezuela (8%) and Egypt (5%), as the top three sources of traffic to Coin Gain’s website.

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…]

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

On its website, Profit Connect markets itself as ‘a leading Supercomputer – Artificial Intelligence Software company with headquarters located in Las Vegas, Nevada.’

Further research reveals Profit Connect marketing videos narrated by Eddie Kona. According to Kona, he’s a co-founder and owner of Profit Connect.

Who Profit Connect’s other co-founders are is not disclosed.

On LinkedIn Eddie Kona lists his location as Las Vegas, Nevada. On Twitter Kona cites himself as the founder and owner of Profit Connect.

For all intents and purposes, Kona is the face of Profit Connect.

Prior to launching Profit Connect as a standalone MLM company, Kona appears to have been marketing iMarketsLive with Profit Connect branding.

Following a run in with the CFTC, iMarketsLive rebooted itself as IM Mastery in late 2019.

Read on for a full review of the Profit Connect MLM opportunity. [Continue reading…]

I haven’t really been paying attention to the TelexFree class-action case. Mostly due to figuring it wasn’t going to go anywhere competing against the SEC’s own civil case.

Turns out maybe I should have been following along.

On July 7th class plaintiffs entered into a $22.5 million dollar settlement with Fidelity Co-operative Bank. [Continue reading…]

The USFIA Receiver has allowed victim claims totaling $45.2 million.

As at November 9th, $15.3 million in claims and an additional $11.1 million in duplicate claims have been disallowed. [Continue reading…]

Following on from allegations the Success By Health deleted evidence, the FTC has made new allegations pertaining to fabricated evidence. [Continue reading…]

Jason Cardiff’s request for $42,596 a month to cover his family’s expenses has been reduced to $4300 a month.

Of the $4300 granted, $2500 covers child support leaving $1800 for “groceries and daily necessities”. [Continue reading…]

DAISY is a portmanteau of “Decentralized AI System”. The company’s full name is Daisy AI.

Daisy AI is presented as an offshoot of EndoTech, a company whose website domain was registered in February 2018.

Despite not existing online till 2018, EndoTech claims on its website it was founded in 2012. The company pitches itself as a crypto trading bot firm, based out of Israel.

That said, the corporate address provided on EndoTech’s website appears to belong to a restaurant.

Heading up EndoTech is co-founders Anna Becker and Dmitry Gushchin.

Both have LinkedIn profiles that claim they are based out of Israel. Notably absent are employment histories.

From what little there is online about Becker, she seems to have spent the last few years coasting from one failed cryptocurrency project to another.

Dmitry Gushchin doesn’t appear to have any online footprint whatsoever. This is because he intentionally misspells his name on EndoTech’s website.

Gushchin’s actual surname is Gooshchin.

Other than playing chess a decade ago and selling “high-class antennas” through his company Fractom, Gooshchin doesn’t appear to have done anything professionally significant since.

I assume that like Becker, Gooshchin reinvented himself as a cryptocurrency expert sometime over the past few years.

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

WoToken was a mobile app Ponzi scheme launched by Chinese scammers last year.

Last month the scam’s co-founders, Gao Yudong, Li Qibing, Wang Xiaoying and Tian YongBo, were each sentenced by a Chinese court to prison sentences ranging from two years six months to eight years six months. [Continue reading…]

A Motion to Dismiss has seen the the LifeVantage class-action reduced by two counts. [Continue reading…]