Eaconomy has received a securities fraud warning from the Czech National Bank (CNB).

As per the CNB’s November 11th, 2024 warning; [Continue reading…]

Eaconomy has received a securities fraud warning from the UK’s Financial Conduct Authority (FCA).

As per the FCA’s November 25th, 2024 warning; [Continue reading…]

Automatic Passive Income, or API for short, fails to provide ownership or executive information on its website.

API’s website domain (“apibusiness.online”), was privately registered on January 22nd, 2023.

Of note is API’s website featuring an “imprint” section. This is mandatory for German-speaking countries.

This ties to API offering its website in English and German. API’s official FaceBook page is also managed from Switzerland:

Curiously, clicking through API’s website “imprint” link takes us to the domain “sparissimo.com”.

Bardhyl Salijaj (right) is listed as the “authorized representative” of Sparissimo’s website. Seeing as API’s website links here, presumably Salijaj represents it too.

Launched in late 2022, Sparissimo appears to be a failed ecommerce website. As of October 2024, Sparissimo’s website traffic was too low for SimilarWeb to track.

Matching API’s FaceBook page, on LinkedIn Bardhyl Salijaj represents he is based out of Switzerland.

API might also have ties to Dubai;

Due to the proliferation of scams and failure to enforce securities fraud regulation, BehindMLM ranks Dubai as the MLM crime capital of the world.

BehindMLM’s guidelines for Dubai are:

1. If someone lives in Dubai and approaches you about an MLM opportunity, they’re trying to scam you.
2. If an MLM company is based out of or represents it has ties to Dubai, it’s a scam.

If you want to know specifically how this applies to Automatic Passive Income, read on for a full review. [Continue reading…]

Serial fraudster Kari Wahlroos has died in Malaysia.

Wahlroos is reported to have died from streptococcus on November 24th, 2024. A leg amputation was performed but wasn’t enough.

In the lead up to Wahlroos death (early November), I also received an unconfirmed report he had diabetes, heart problems and “something very wrong with his stomach”. [Continue reading…]

Agility VIP fails to provide ownership or executive information on its website.

Agility VIP’s website domain (“agilityvip.cc”), was registered with bogus details on October 31st, 2024.

Of note is Agility VIP’s website domain being registered through the Chinese registrar Alibaba (Singapore).

Agility VIP has already attracted the attention of financial regulators. The Central Bank of Russia issued an Agility VIP pyramid fraud warning on November 13th, 2024.

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…]

Following a jury verdict against them, LuLaRoe has been ordered to pay $164 million in damages.

The damages were awarded to Providence Industries, a former supplier of LuLaRoe’s leggings. [Continue reading…]

Indian authorities have raided the home of Gaurav Mehta, an audit company employee.

The Central Bureau of Investigation has also issued a summons for Mehta. [Continue reading…]

Finopta fails to provide ownership or executive information on its website.

Finopta operates from two known website domains:

1. finopta.xyz – marketing website, private September 2023 registration last updated on September 15th, 2024
2. finopta.top – app, private September 2023 registration last updated on June 6th, 2024

If we look at the source-code of Finopta’s “.XYZ” domain, we find Chinese:

This suggests whoever is running Finopta has ties to China.

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…]

Solana Payouts fails to provide ownership or executive information on its website.

Solana Payouts’ website domain (“solanapayouts.com”), was privately registered on May 28th, 2024.

In the footer of Solana Payouts’ website we find reference to Precognition Capital S.R.O, a purported shell company registered in the Czech Republic.

The sole listed director of Precognition Capital S.R.O is “Sotiris Georgiades”, a purported resident of Cyprus.

Whether Georgiades is an actual person and what their role is within Solana Payouts is unclear.

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 CFTC is reaching out directly to victims of The Traders Domain Ponzi scheme.

The federal regulator published a “confidential customer survey” on November 14th, which it claims will “provide [the] CFTC with pertinent information on this case.” [Continue reading…]