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

PayAsian’s website domain (“payasian.co”) was registered in April 2018.

Singapore is cited as the registrant’s country with no other details provided.

PayAsian do provide a whitepaper link on their website. In the company’s whitepaper, Hero Vu (right) is cited as PayAsian’s co-founder and CEO.

PayAsian’s other co-founders are not disclosed.

As per Vu’s PayAsian corporate bio, he’s

a Bitcoin evangelist and researcher on Blockchain, with over 15 years of experience in the Fintech field.

He is also a consultant for financial firms in Singapore.

According to Vu’s LinkedIn profile, he’s based out of Singapore.

As far as I can tell PayAsian is Vu’s first MLM venture.

Update 22nd December 2019 – PayAsian doesn’t appear to be Hero Vu’s first MLM crypto rodeo.

Following a tipoff from a reader, I was able to trace Vu promoting SunCoin in March, 2018.

Whatever SunCoin was, it never got off the ground and collapsed. From what I was able to find, it was attached to SunPay and appears to be the precursor to PayAsian.

According to reader “jun kintanar” in the comments below, SunCoin primarily targeted Cambodian investors. Vu exit-scammed with their money when it failed to take off.

Less than a month after Vu began promoting SunCoin, PayAsian’s website domain was registered (April 9th).

By late April/early May, promotion of PayAsian began in earnest.

Although Vu would likely hope nobody remembers SunCoin, reference to it today exists in PayAsian’s published whitepaper (oops):

There are also two references to SunPay in the whitepaper.

All of this suggests Vu knows exactly what he’s doing with PayAsian and, when the time comes, will once again exit-scam. /end update

On the regulatory front PayAsian has already attracted attention. The Philippine SEC issued a PayAsian securities fraud warning on November 14th.

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

Jacques Poujade’s attempt to reverse an order directing him to surrender money and assets has been denied. [Continue reading…]

In response to Plaintiffs Rui Chen’s and Wenjian Gozales’ pyramid scheme lawsuit, Premier Financial Alliance attempted to compel arbitration.

The motion was denied January 22nd, 2019, prompting PFA to file a Motion for Reconsideration.

On December 19th, PFA’s Motion for Reconsideration was also denied. [Continue reading…]

The Traffic Monsoon Receiver’s proposed claims process has been approved.

This means we now have a set cutoff date and procedural instructions for claim filing. [Continue reading…]

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

HashFinders website domain was first registered in 2016. Currently Hashfinders’ registration is private and was last updated on September 5th, 2019.

On its website, HashFinders claims

In middle of 2016, the company HASHFINDERS was created in Korea with a group specialized in blockchain, cryptography and mining algorithms.

This backstory is baloney. A check on the WayBackMachine reveals that as late as August 2019 HashFinders’ website domain was parked.

The current website went live on or around September 5th, which is likely when HashFinders’ admin(s) took possession of the domain.

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…]

Russell Whitney’s estate has settled with the FTC.

As part of the settlement, a $1,428,616 monetary judgement has been awarded. [Continue reading…]

Good news for those of you who keep asking when you’ll be able to file claims, the Traffic Monsoon Receiver has sought claims process approval. [Continue reading…]

After what feels like far too long, news today that TelexFree co-founders Carlos Wanzeler and Carlos Costa have been arrested in Brazil. [Continue reading…]

SalesVision’s website hearkens back to those annoying vertical sales pitch funnels that were a thing ~5 years ago.

You know the type, yellow highlighting, bold red text and endless scrolling to get to the cost.

One thing I’ll give SalesVision is that at least it’s upfront about who’s running the company. [Continue reading…]

Crypto Societi at present doesn’t have a website. Anything online to do with the company was recently pulled offline.

At the time of publication Crypto Societi’s website domain is parked, but that doesn’t mean there’s no information out there.

What I wasn’t able to establish is who’s behind Crypto Societi. I’ve received intel that BitClub Network co-founder CEO Russ Medlin is connected, but wasn’t able to independently verify.

If true though, Crypto Societi is DOA.

Medlin (right) is believed to be wanted wanted by US authorities for his role in running BitClub Network, a $722 million dollar Ponzi scheme.

That might explain why Crypto Societi’s once functioning website was abruptly pulled.

In any event, here’s what we know so far. [Continue reading…]