The Watford Corp Ponzi scheme has collapsed.

As part of their exit-scam, Watford Corp’s anonymous admins have put up what appears to be a fake SEC website closure notice. [Continue reading…]

I-InsureMe operates in the insurance MLM niche.

The company is based out of Arizona in the US and headed up by owner and CEO Paul Langley.

The earliest business history I was able to find on Langley (right) was Clear Business Solutions.

I wasn’t able to pin down when it started but as per a Better Business Bureau listing, prior to 2005 Clear Business Solutions “offered a health care savings plan”.

As of March 2005, the company has ceased this type of business and now offers a service to close sales for coastal vacations business opportunities.

Coastal Vacations is your typical MLM travel niche recruitment opportunity.

According to Langley’s LinkedIn profile, he owned and operated Dedicated Financial Group from August 2006 to April 2014.

An official Dedicated Financial Group Facebook page describes the business as the “developer of the retirement rescue plan”.

Those Facebook posts link to still-available email marketing copy, which reveals Dedicated Financial Group was a financial services MLM opportunity.

Considering Dedicated Financial Group ended in April 2014 and I-InsureMe was launched that same month, it appears I-InsureMe was a rebranding.

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

A proposed settlement between Synovus Bank and the MOBE Receivership was filed on September 17th.

If approved, the settlement will effectively end Synovus’ campaign to retain $6.3 million in MOBE victim’s funds. [Continue reading…]

Brazil’s Supreme Federal Court has ruled that Carlos Wanzeler will be extradited to the US.

The extradition order was made during a hearing on the 21st, with a decision published on the 25th. [Continue reading…]

Charles Scoville, the incarcerated creator of Traffic Monsoon, has been indicted on wire and tax fraud charges. [Continue reading…]

BitClub Network defendant Matthew Brent Goettsche has rejected an offered plea deal.

The news was revealed during a Frye Hearing, held on September 15th. [Continue reading…]

Andreas Kartrud’s first smart-contract Ponzi scheme has collapsed.

EtherChain was one of three scams Kartrud has launched, as part of his Eclipcity Ponzi factory. [Continue reading…]

The FTC has added VOZ Travel to the list of defendants in its Success By Health fraud lawsuit.

VOZ Travel was added as per a second amended complaint, filed on September 23rd. [Continue reading…]

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

Crypto Trading’s website domain (“cryptotrading.biz”) was privately registered on August 20th, 2020.

In an attempt to appear legitimate, Crypto Trading provides an incorporation certificate for “CryptoTrading LTD” on its website.

CryptoTrading LTD was incorporated in the UK on August 28th, 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.

At the time of publication Alexa ranks Russia (12%), Venezuela (7%) and Egypt (6%), as the top three sources of traffic to Crypto Trading’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…]

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

In fact as I write this, CyberChain’s public-facing website is nothing more than a registration form.

CyberChain’s website domain (“cyberchain.cc”) was registered on August 11th, 2020.

“SwissCoin” is registered as the owner, through an incomplete address in Skane, Sweden.

SwissCoin was a Ponzi scheme launched in 2016. With respect to domain registration, Andreas Kartrud (right) has used SwissCoin on the registration of several domains this year.

EtherChain (June) and TronChain (August) are identical smart-contract Ponzi schemes.

TronChain was launched to stave off EtherChain’s inevitable collapse. Given TronChain is barely a month old, one can safely assume CyberChain has been launched to stave off TronChain’s inevitable collapse.

One need only look towards CyberChain marketing efforts to confirm as much;

ID 1 in Cyberchain doesn’t belong to an individual. It belongs to the Eclipcity community and is supporting Etherchain and Trochain [sic].

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