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

Namiro’s website domain (“namiro.org”) was registered on Februray 12th, 2020. The private registration was last updated in April 2020.

Although not definitive, Namiro’s use of euros suggests whoever is running it is based out of Europe.

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…]

Swag also goes by just Swag Mining and Swag Network.

Swag’s parent company is presented as Swag Ou (aka Swag Corporate), which appears to be an Estonian shell company.

• Swag Mining  (swagmining.com) – privately registered on Feb 26th 2020, Italian hosting
• Swag (swagyourlife.com) – first registered in 2019, domain registration currently private and last updated in June 2020, Italian hosting
• Swag Corporate (swag-corporate.com) – privately registered in June 2020, Italian hosting

Swag’s website defaults to Italian. This suggests whoever owns the company is at the very least of Italian origin, if not running the company out of Italy itself.

Supporting this is six of Swag’s current “best promoters of the month” being from Italy. The other two are from Spain.

As above, Swag’s company websites were registered through an Italian registrar and are hosted in Italy.

The only name featured on Swag’s websites is Gabriele Stampa (right).

Stampa is credited as

Co-Founder of the first and largest Italian mining farm and active member of the Scientific Board of Scrypta Fondation and Assocoin.

As per Stampa’s LinkedIn profile, he’s a Swag co-founder dating back to July 2019.

Stampa is based out of Florence in Italy, which is likely where the company is actually being operated from.

Supporting this is the domain registration for swagmining.com. Although the majority of registration details are “redacted for privacy”, we can see the registrant’s state and country is LI, IT.

This stands for the province of Livorno in Italy. Livorno is a province in the Tuscany region of Italy. Florence is the capital of Italy’s Tuscany region.

Based on his LinkedIn profile data, Gabriele Stampa appears to be your typical crypto bro.

Stampa cites involvement in a number of cryptocurrency projects, none which appear to have gone anywhere.

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

A OneCoin promoter in Ecuador has been sentenced to five years in prison.

Ivonne Ortiz was a prominent promoter of the OneCoin Ponzi scheme in Ecuador.

Ortiz featured in official OneCoin marketing material, appearing to be pretty high up the food chain. [Continue reading…]

Roughly twelve hours ago or thereabouts, QuibitTech AI’s website went down – along with the website domain.

The Ponzi scheme’s social media accounts are still up, with QuibitTech’s Twitter account redirecting investors to a new website domain.

Naturally, the provided reason for QubitTech’s website downtime doesn’t add up. [Continue reading…]

Arctic Nutrition operates in the nutritional supplements MLM niche.

The company is based out of Finland and, on its website, represents it was founded in 1997.

Heading up Arctic Nutrition is CEO Teemu Penttila (right).

Arctic Nutrition provide no information about Penttilla on their website. Possible due to language barriers, I couldn’t find anything independently either.

Pentilla’s LinkedIn profile suggests that although he resides in Finland, he also has connections to Russia.

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

Rinpark SA is a shell company Jay Noland set up in Uruguay. As alleged by the FTC, Rinpark SA was part of the Success by Health pyramid scheme.

Through Rinpark SA, $300,000 is alleged to have been transferred out of the US to Uruguay between August 2019 and January 2020.

Through a second amended complaint (SAC) filed in September 2020, the FTC sought to add Rinpark SA as a defendant.

In October Rinpark SA filed a motion to dismiss, arguing the FTC lacked personal jurisdiction over it. [Continue reading…]

Two years ago the Washington State AG filed a lawsuit against LuLaRoe.

In the lawsuit the AG’s Office alleged LuLaRoe was an “unlawful pyramid scheme”.

Rather than prove it’s not a pyramid scheme, LuLaRoe has settled the lawsuit for $4.75 million dollars. [Continue reading…]

Last November we covered the settlement reached between Youngevity and Wakaya Perfection.

At the time details of the settlement were not available.

A transcript of proceedings held on November 10th was made public on January 15th.

Inside the transcript details of the agreement reached between the parties are revealed. [Continue reading…]

Bitcoiin insider and top promoter John DeMarr has been arrested ‘for his alleged participation in a coordinated cryptocurrency and securities fraud scheme’.

DeMarr’s indictment details one charge of conspiracy to commit securities fraud. [Continue reading…]

Kristijan Krstic and his Ponzi empire accomplices have been sued by the SEC.

The civil lawsuit follows Krstic’s arrest in Serbia late last year. [Continue reading…]