In a recent Mining City webinar, CEO Gregory Rogowski claimed the company had obtained an license with the Philippine SEC.

As per correspondence received by the SEC after the webinar aired, the Philippine SEC have confirmed Mining City remains unregistered.

Not only that, the regulator appears to be building a case against local promoters. [Continue reading…]

The “Circle of Success” event class-action filed in Florida has been reopened.

We’ve also got some updates on you on split proceedings taking place in California. [Continue reading…]

CubeBit doesn’t provide any information about who owns or runs the company on its website.

On October 2nd a video titled “Cubebit Interview with the CEO” was uploaded to CubeBit’s official YouTube channel.

The video features an interview with CubeBit’s “newly appointed” CEO, Konstantin Janke.

Janke works for Big Eye News. Big Eye News is part of Big Eye Media, a production company that claims it’s “dedicated to providing high quality and informative content.”

Big Eye Media is part of Big Eye Agency, “an audience-focused, creative-driven, full-service advertising agency”.

A Big Eye promo precedes Janke’s CubeBit CEO video interview, so it seems part of their offering is producing fake CEO videos.

Janke appears to have been hired to play CEO following the appointment of CubeBit’s original CEO, a Fivver gig:

Interviewing Janke is CubeBit’s Master Global Ambassador, Romel Gumiran.

Gumiran is an actual person. In addition to Master Global Ambassador Gumiran is also the sole officer of CubeBit Business Solutions, a UK shell company incorporated in May.

As per the shell incorporation, Gumiran is Filipino but resides in Norway (this might explain the Janke actor’s accent). On Facebook however Gumiran’s recent posts feature photos shot in Dubai.

CubeBit’s official Facebook page is managed from Albania (this might also explain the Janke actor’s accent), Brazil and the Philippines.

On his LinkedIn profile, Gumiran pitches himself as

a system consultant at Nexus chain, specializing in developing Token, Cryptocurrency coin, Trading platform for Cryptocurrency and MLM software for MLM startup Company.

Pending any further information coming to light, it appears CubeBit is run by Romel Gumiran. Whether he’s working alone or with others is unclear.

Update 19th March 2021 – Konstantin Janke has been in contact to advise ‘I’m not part of cubebit 2.0 since February 2021′. /end update

CubeBit’s website domain (“cubebit.io”) was first registered in 2018. The private registration was last updated on April 16th, 2020.

Through the Wayback Machine it appears CubeBit’s current website didn’t go live until after the April update. This suggests CubeBit’s owner(s) acquired the domain in April, 2020.

Alexa currently ranks Pakistan as the only significant source of traffic to CubeBit’s website (92%).

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…]

Fortress Network markets itself as “the opportunity of a lifetime”.

The company is based out of North Carolina in the US and headed up by President and CEO Akili Dorian Omari.

On social media Omari (right) goes by “Dorian Akili Omari”.

Before founding Fortress Network, Omari was promoting local nightclub events. I wasn’t able to establish whether he has an MLM history.

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

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

As per the “about” section of Tridex’s website, the company was founded by “Melvin Buck”.

Neither Melvin Buck or any of the other “stock photo” executives named exist outside of Tridex’s website.

Given this, it is assumed all named Tridex executives don’t exist.

Tridex’s website domain (“tridex.io”) was registered on April 27th, 2020.

Crex Capital is essentially a clone of Tridex. Both companies run the same website theme and list the same fictional executives.

Crex Capital’s website domain (“crex.capital”) was registered on October 14th, 2020.

Whether Crex Capital is intended to be a Tridex spinoff or “template business in waiting” is unclear.

In an attempt to appear legitimate, both Tridex and Crex Capital provide UK incorporation certificates.

At the time of publication Alexa ranks the top three sources of traffic to Tridex’s website as Burkino Faso (12%), Cuba (10%) and Argentina (7%).

Crex Capital’s website is too new to have generated traffic stats yet.

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…]

The Commission de Surveillance du Marche Financier de L’Afrique Centrale, better known as COSUMAF, has issued a securities fraud warning against Liyeplimal. [Continue reading…]

Serial Ponzi scammer Santiago Fuentes has been arrested in Spain.

Spanish authorities have charged Fuentes with “belonging to a criminal organization” and money laundering. [Continue reading…]

The FTC has opposed the Cardiffs’ latest attempt to access frozen funds, alleging the couple are still actively concealing assets in contempt of court. [Continue reading…]

A few weeks back a reader tried to argue pyramid schemes were legal in Singapore.

After getting rekt they scurried off and were never heard from again.

During our conversation though I acknowledged that Atomy USA had updated their compensation plan.

We last visited Atomy as “Atomy America” back in 2016. Today we revisit the company as Atomy USA for an updated review. [Continue reading…]

Kointat fails to provide verifiable company ownership information on its website.

There is a Board of Directors list provided, featuring Hunt Lenny as CEO and Chairman, however none of the Directors exist outside of Kointat’s own marketing material.

In an attempt to appear legitimate, Kointat provides registration details for Kointat Co LTD at the Cyprus Securities and Exchange Commission. Basic UK incorporation details for Kointat Co LTD is also provided.

Cyprus is a scam-friendly jurisdiction with little to no regulation. Despite registering Kointat Co LTD back in 2017, no audited financial reports are available.

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, Cyprus SEC registration and UK incorporation is meaningless.

Kointat’s website domain (“kointat.com”) was privately registered on November 30th, 2019.

At the time of publication Alexa ranks Nigeria as the only notable source of traffic to Kointat’s website (88%).

This is high enough to suggest that whoever is actually running Kointat is based out of, or at the very least has ties to Nigeria.

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…]