WBank Wallet provides no information on their website about who owns or runs the company.

WBank Wallet’s website domain (“wbankwallet.com”) was privately registered in September 2019.

Despite not existing up until a few months ago, on its website WBank Wallet represents it has been around since October 2018.

An incorporation certificate for Singapore is provided on WBank Wallet’s website.

The incorporation corresponds to “WB Develop and Technology PTE. LTD.”, which was registered on January 22nd, 2019.

The address used to incorporate WB Develop and Technology PTE. LTD. is a virtual address provided by Davinci.

Two names feature in WB Develop and Technology’s incorporation, Joyce Lee and Charmaine Joshua.

Joyce Lee’s only tie to WBank Wallet appears to be curated social media content. I couldn’t find anything on Charmaine Joshua.

Given WB Develop and Technology appears to be a shell company, it’s highly likely these two individuals don’t exist.

WBank Wallet uses Fiverr actors in their official YouTube marketing videos:

One video claims to represent a WBank Wallet event held in Malaysia last October.

The video itself doesn’t contain any actual footage but does suggest WBank Wallet is being run out of Malaysia.

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 OneCoin class-action plaintiffs have been given permission to effect alternate service on defendants OneCoin and Ruja Ignatova.

Alternative service for Sebastian Greenwood and Irina Dilinska was denied. [Continue reading…]

A reader contacted me requesting an update to our Viv review.

Hi Oz. Since you published your review there have been some changes with comp plan and services offered.

Would you update the review and verify if the new comp plan moved Viv into ponzi territory?

Thank you.

Our original Viv review was published in November 2018.

Viv still don’t link to a copy of their compensation plan on their website. A “compensation at a glance” PDF is available via Google, but it’s not complete.

Still, it was enough for me to see there had indeed been changes made to Viv’s compensation plan.

Today we revisit Viv for an updated review. [Continue reading…]

Click Cash’s website is a bit of a mess.

Whether intentionally or otherwise, “clickcash.cash” is set up to reject HTTP requests and return a “server not found”error message.

If you visit the subdomain “litecoin.clickcash.cash”, you’re presented with an affiliate login page.

As far as I know this is the only website Click Cash operates through.

Needless to say the company operates in secrecy and provides no information on its 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…]

3X Funding provides no information on their website about who owns or runs the business.

3X Funding’s website domain (“3xfunding.com”) was first registered in January 2019. The registration was last updated on January 8th, 2020.

Mannat Infotech is listed as the owner, through an incomplete address in Maharashtra, India.

Mannat Infotech is a computer store in Mumbai. The company also offers web development services.

To what extent Mannat Infotech is involved in 3X Funding is unclear.

3X Funding acknowledges it’s based out of India;

3X is the India’s first crowd funding system allows you receive half of everything forever!

But that’s as far as it goes.

When you click on the YouTube link on 3X Funding’s website, you’re taken to the Money Magnet YouTube channel.

Videos on the channel feature this guy:

He does introduce himself but I’m not confident enough on the spelling to confirm (Myself Moushad?).

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…]

Last November a Russian van rolled up to OneCoin’s Bulgarian headquarters.

Shortly afterwards, this happened:

Now OneCoin corporate documents are finding their way into the wild. [Continue reading…]

Spain’s CNMV financial regulator has issued an investment warning against F2 Trading Corp. [Continue reading…]

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

In it’s marketing materials Kuailian represents it is based out of East Europe and Southeast Asia.

An incomplete corporate address in Georgia (the country) is provided on Kualian’s website.

Late last year Kuailian held an “international launch event in Barcelona, Spain.

The two main speakers at the event were these guys:

The guy on the left I’ve been able to identify as David Ruiz de Leon.

De Leon is Kuailian’s CEO and, according to his LinkedIn profile, is based out of Madrid, Spain.

This is where Kuailian is being operated from. Any ties to Georgia, East Europe or Southeast Asia appear non-existent (might be some shell companies).

Possibly due to language barriers, I was unable to put together an MLM history on de Leon.

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…]

An Amway distributor in California is suing the company for unpaid wages.

Plaintiff William Orage alleges

although Amway has classified Plaintiff and other Amway IBOs as “independent contractors” … IBOs are Amway employees for the purposes of the Industrial Welfare Commission’s Minimum Wage Order and IWC Wage Order No. 4, and related Labor Code sections.

In the opening paragraph of his complaint, Orage claims his lawsuit is filed “on behalf of the California Labor Workforce Development Agency, pursuant to the Private Attorney General Act.

At first I thought this meant the government was involved, but upon closer examination that’s not the case. [Continue reading…]

SoftTrade AI provides no information on their website about who owns or runs the business.

SofTrade AI’s marketing videos feature someone they’re calling “Ryan Baines”.

No verifiable information on Baines exists anywhere on the internet.

A Facebook profile for Baines, on which it is claimed he’s SofTrade AI’s CEO, was created about a week ago on January 13th.

The likely actor playing Baines has a distinctly European accent.

SoftTrade AI’s website domain (“softradeai.com”) was registered on December 14th, 2018.

Ali Jawad Rana of Server4Sale is listed as the owner, through a suite address in Ontario Canada.

Of note is this address differs to the UK one provided on SofTrade AI’s website.

In the company’s website FAQ, SofTrade AI claims it’s “incorporated in the UK”.

UK incorporation is dirt cheap and for the most part unregulated.

It is a favored jurisdiction for scammers looking to incorporate dodgy companies.

Server4Sale are a web hosting provider based out of Pakistan.

Whether this means Server4Sale is behind SofTrade AI or they’re working for a client in Pakistan is unclear.

At the time of publication Alexa cites Bangladesh (21%), Russia (12%) and Vietnam (5%) as top sources of traffic to SofTrade AI’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…]