Skainet Systems has received a pyramid fraud warning from the Central Bank of Russia (CBR).

As per the CBR’s March 14th warning, Skainet Systems exhibits “signs of a financial pyramid”.

Skainet Systems is an MLM trading ruse Ponzi run by German national Michael Baur (aka Micha Baur). [Continue reading…]

Jason Cardiff’s failure to the return the US has resulted in forfeiture of his bail.

Following his arrest in November 2023, Cardiff was granted release on a $530,000 bond.

Cardiff’s bail was secured by

1. $500,000 through a property owned by Lilia Murphy; and
2. $30,000 in cash paid by Brian Kennedy.

Both Murphy and Kennedy submitted affidavits of surety, acknowledging the consequences of Cardiff violating his release conditions.

At the request of the DOJ last month, the court held a motion on Cardiff forfeiting bail on March 11th.

An order issued later the same day states; [Continue reading…]

One thousand five hundred and one GSPartners victim claims have been filed as of March 13th.

Of the claims filed, Secretary of State Brad Raffensperger asserts one hundred twenty one are from Georgia investors. [Continue reading…]

LaCore Enterprises and owner Terry LaCore have sold Pruvit to Herbalife.

As per a March 12th Herbalife press-release; [Continue reading…]

Pursuant to a granted seizure warrant on January 31st, 2025, the DOJ has moved to seize 119.65 bitcoin from Juan Carlos Reynoso.

Reynoso is a serial promoter of MLM Ponzi schemes but, as of yet, details surrounding the case tied to the seizure are unclear.

Here’s what we do know: [Continue reading…]

Texas has pulled out of the GSB settlement, citing multiple alleged violations of the reached agreement by GSB and owner Josip Heit.

I won’t absolve Mr. Heit of his latest frauds. The term sheet has been myriad violated by your clients, those that still exist.

Let’s litigate and see if you can look in a mirror.

Texas is done due your violations. Y’all violated the term sheet six ways to Sunday.

Nice job, and with all due respect,

Travis J. Iles
Securities Commissioner
Texas State Securities Board

The Texas State Securities Board (TSSB), details alleged GSB settlement violations in a filed First Amended Notice of Hearing. [Continue reading…]

Twenty-eight QNet scammers have been arrested in Nigeria.

Citing QNet as a Ponzi scheme, Nigeria’s Economic and Financial Crimes Commission (EFCC), arrested the suspects on or around March 10th.
[Continue reading…]

PGIM USDT fails to provide ownership or executive information on its website.

PGIM USDT’s website domain (“pgpgtrx.com”), was privately registered through a Hong Kong address on March 1st, 2025.

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…]

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

Brainstorm’s website domain (“brainstorm.market”), was privately registered on September 12th, 2024.

Further research reveals Brainstorm marketing material citing CEO Jubbaer Miah:

Miah appears to be some random crypto bro from the UK, now residing in Dubai:

On its official YouTube channel, which for some reason isn’t linked from Brainstorm’s website, the native language of marketing videos is French.

Of note is Brainstorm marketing a “trading bootcamp in Dubai” last month:

From this we can ascertain Brainstorm is likely being run by French scammers in Dubai, hiding behind Jubbaer Miah as CEO.

Further supporting this is, as of February 2025, SimilarWeb tracking 100% of Brainstorm’s website traffic from France.

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 Brainstorm, read on for a full review. [Continue reading…]

Vestas Mall fails to provide ownership or executive information on its website.

Vestas Mall’s website domain (“vestasmall.com”), was registered with bogus details on February 28th, 2025.

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…]