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

iFundsHub’s website domain (“ifundshub.com”), was registered in February 2023. The private registration was last updated on February 15th, 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…]

Danny de Hek’s “The Crypto Ponzi Scheme Avenger” YouTube channel has been terminated.

In a January 21st press-release published on de Hek’s website, he confirms the termination was due to policy violations. [Continue reading…]

AI Transaction Platform fails to provide ownership or executive information on its website.

AI Transaction Platform’s website domain (“aitransactionplatform.com”), was registered with bogus details on December 8th, 2024.

Of note is AI Transaction Platform’s website domain being registered through the Chinese registrar Alibaba (Singapore).

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…]

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

AiConnects’ website domain (“aiconnects.io”), was privately registered on April 12th, 2024.

Over on YouTube we find AiConnects marketing videos tying three names to the company:

• AiConnects founder – M. Baris Arslan (below)
• AiConnects CEO – Nicoletta Flare
• AiConnects Director of Sales – Asker Sakinmaz

Baris Arslan is purportedly from Germany. Arslan doesn’t appear to have an MLM history (or much of a digital footprint), which is an immediate red flag.

Nicoletta Flare, aka Nicoletta Weinstock, is originally from Germany but lives in Spain,

Flare also doesn’t appear to have a verifiable MLM history. On social media Flare  cites herself as a “business & life coach” and “wealth creator”

Asker Sakinmaz has a history of serial involvement in fraudulent in MLM schemes.

Sakinmaz, from Turkey, first popped up on BehindMLM’s radar as CEO of the FlexKom pyramid scheme in 2013.

FlexKom was rebooted as Weeconomy in 2019. Weeconomy marked a transition to MLM related crypto fraud.

In his capacity as a FlexKom executive, Sakinmaz was convicted on fraud charges in Belgium in 2020. Sakinmaz, convicted in absentia,  was sentenced to forty months in prison and an €18,000 EUR fine.

After Weeconomy collapsed, in 2021 Sakinmaz resurfaced as part of Safir International’s “circle of trust”.

Safir International was an MLM crypto Ponzi built around Zeniq Coin. The scam collapsed in 2023.

Another name attached to AiConnects worth noting is George van Wijk:

Wijk was a top promoter of the Crowd1 Ponzi scheme.

After a fallout with owner Jonas Werner, Wijk ditched Crowd1 in 2022. Later that same year Wijk resurfaced with Star Horizon.

Star Horizon, essentially an unofficial spinoff of Crowd1, collapsed in March 2024.

Instead of acknowledging its ties to Germany and Turkey through its executives, AiConnects provides a Singapore PO Box address on its website.

The address purportedly corresponds to FintechBay Pte Ltd, a purported Singapore shell company.

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…]

A new notice posted on GSB’s GSPro and Lydian World websites went live on January 21st.

As per the notice, the GSB victim claims process will begin on February 21st.

The claims process, through which GSPartners victims will be able to claim funds lost to any GSB investment scheme, will run until May 22nd. This is a hard deadline. [Continue reading…]

EM Gas fails to provide ownership or executive information on its website.

EM Gas’ website domain (“vipemip.net”), was registered with bogus details on January 16th, 2025.

Of note is EM Gas’ website domain being registered through the Chinese registrar Alibaba (Singapore).

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 Central Bank of Sri Lanka has expanded its national list of prohibited pyramid.

The updated January 20th, 2025 list now includes Qnet, MTFE and Ledger Block and Ride to Three Freedom. [Continue reading…]

Beonbit fails to provide verifiable ownership or executive information on its website.

The only reference to BeonBit’s CEO is a news entry for a marketing video:

“Richard Bates” doesn’t exist outside of Beonbit’s own marketing. An obligatory rented office marketing video reveals an actor with an eastern European accent.

This is typical of Boris CEO schemes, which are typically run by Russian and/or Ukrainian scammers.

It should be noted that Bates and the other actors are recent additions to Beonbit. Up until late December 2024 the company was faceless.

In an attempt to appear legitimate, Beonbit provides a registration certificate for Beonbit Pty Ltd.

Beonbit Pty Ltd was registered with the Australian Securities and Investments Commission (ASIC), on December 12th, 2023. Nothing has been filed with ASIC beyond Beonbit’s 2023 company registration application.

ASIC are known for non-regulation of MLM fraud. Furthermore anyone can register a company with ASIC using whatever bogus details, there is no verification.

For this reason ASIC registration is favored by scammers residing outside of Australia.

With respect to MLM due-diligence, ASIC registration certificate as proof of legitimacy is therefore meaningless.

Beonbit’s website domain (“beonbit.com”), was privately registered on October 3rd, 2023.

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 November 2024 Status Conference, what’s left of Qyral has been ordered dissolved.

As per a January 7th, 2025 court order; [Continue reading…]

GS Caltex USDT, aka GS Caltex Investment Mall, fails to provide ownership or executive information on its website.

GS Caltex USDT’s website domain (“fa.outletking.cc”), was registered with bogus details on May 5th, 2024.

Of note is GS Caltex USDT’s website domain being registered through the Chinese registrar Alibaba (Singapore).

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…]