We Share Abundance’s withdrawal issues continue, with the latest restriction seeing only those who recruit new investors able to withdraw. [Continue reading…]

The Australian Securities and Investments Commission has filed criminal charges against John Louis Anthony Bigatton.

Bigatton served as an Australian Director of the infamous BitConnect Ponzi scheme. [Continue reading…]

Youngevity’s long-running dispute against Wakaya Perfection and several individual defendants, has come to an end.

On November 10th a settlement conference was held, revealing agreements had been reached by all parties involved. [Continue reading…]

Norway’s Financial Supervisory Authority (Finanstilsynet) has issued a securities fraud warning against the CashFX Group Ponzi scheme. [Continue reading…]

Mirollex provides passive investment plans and is supposedly headed up by CEO Andreas Kral.

Kral is played by this actor, and exists only in Mirollex’s staged marketing videos:

Kral has a distinct eastern European accent, which is typical of a Boris CEO.

Another video features a “trade account manager” who, if you follow his eyes, is clearly reading off a script.

Another individual that features in multiple Mirollex videos is “Remmao Alafif”:

Again, nothing comes up for Alafif outside of Mirollex (bonus cringe video).

In an attempt to appear legitimate, Mirollex provides a Saint Vincent and the Grenadines incorporation certificate on its website.

Saint Vincent and the Grenadines is a scam-friendly jurisdiction with little to no regulation. For the purpose of MLM due-diligence, incorporation of a shell company in Saint Vincent and the Grenadines is meaningless.

Mirollex’s official private Facebook group is run by two dummy admin accounts.

Mirollex’s website domain was privately registered on August 3rd, 2020.

At the time of publication, Alexa ranks the Ukraine as the only notable source of traffic to Mirollex’s website. This ties in with Mirollex’s use of actors with eastern European accents.

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

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

In fact as I write this, Adasa Group’s website is nothing more than an affiliate login page:

Adasa Group’s official marketing material cites “Elizabet” as CEO of the company:

No information, not even a last name, is provided.

Elizabet has appeared in at least one Adasa Group marketing video:

Beyond that, who she is and what her MLM history is, if any, is unclear.

Elizabet speaks Spanish and Adasa Group’s website defaults to Spanish. Alexa currently ranks Mexico (56%), Peru (27%) and Uruguay (10%), as the top sources of traffic to Adasa Group’s website.

Given Spanish is the official language of all three countries, it should be obvious Adasa Group is likely being run out of Mexico, Peru and/or Uruguay.

Adasa Group’s website domain (“adasagroup.net”) was privately registered on March 21st, 2020.

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 months of not paying affiliates and keeping them in the dark, WorldVentures has finally confirmed it is merging with Seacret Direct. [Continue reading…]

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

In an attempt to appear legitimate, Sincere Systems provides a UK incorporation link in its website FAQ.

Sincere Systems Group LTD was incorporated in June 2020.

UK incorporation is dirt cheap and effectively unregulated. It is a favored jurisdiction for scammers looking to incorporate dodgy companies.

For the purpose of performing MLM due-diligence, UK incorporation is meaningless.

As opposed to the UK, Sincere Systems appears to be operated out of Russia and/or the Ukraine.

This is supported by Russia and Ukraine being the only notable sources of traffic to Sincere Systems’ website. At the time of publication Alexa pegs Russia at 36% and the Ukraine at 22%.

Russian text appears in documents provided by Sincere Systems:

Sincere Systems’ YouTube channel is full of Russian language marketing videos:

And all of Sincere Systems marketing webinars are scheduled on Russia/Ukraine time, with hosts bearing names you’d expect (e.g. Vadim Mashurov, Alexey Kozinov, Lina Nikonenko etc.)

Who is running Sincere Systems from Russia and/or the Ukraine is not disclosed.

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…]

Crowd1 affiliates in the Philippines are attempting to align the Ponzi scheme with the Philippine National Police Force. [Continue reading…]

5 Level Crypto Earnings provides no information on its website about who owns or runs the company.

5 Level Crypto Earnings’ website domain (“5levelcryptoearnings.com”) was privately registered on September 7th, 2020.

It’s worth noting that 5 Level Crypto Earnings’ domain was registered through Automattic, owners of WordPress.

On their website, 5 Level Crypto Earnings claims;

We are based in the USA. Our future plan is to open offices in the UK, Asia and Europe by the end of 2020.

Top earners named on 5 Level Crypto Earnings’ website include Aaron Harrold, John Bruce, Stephen Goodwin, Linda Sislar and Velma Joseph.

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…]