Admins of the Monspace Ponzi scheme have been arrested in Malaysia.

CEO Lai Chai Shuang (Jessy Lai), Wong Tat Foong and Chai Ling Mooi plead not guilty to charges relating to fraud. [Continue reading…]

Following a brief sentencing delay, Jason Guck has been sentenced to seven months in prison.

Guck is the third 5Linx owner to be sentenced on charges stemming from wire and tax fraud. [Continue reading…]

MLM cryptocurrency companies and securities fraud practically go hand in hand.

It is easily the biggest regulatory threat facing the industry and, for that reason, you’ll see me emphasizing it in a lot of our reviews.

Most of the time the companies in question aren’t registered with the SEC and, because of that, I cut the regulator some slack.

They can’t keep track of everything and investigations take time. A lot more time when the companies are operating through offshore shell entities and puppet overseas management.

But when a US based company that’s registered with the SEC flaunts and continues to flaunt securities law, has been fined once and continues to operate illegally, I have no words.

How is this happening? [Continue reading…]

A proposed class-action lawsuit has been filed against OneCoin in New York.

The opening introduction of the complaint quotes Manhattan U.S. Attorney Geoffrey S. Berman, and pretty much says it all;

[They] created a multi-billion-dollar “cryptocurrency” company based completely on lies and deceit.

They promised big returns and minimal risk, but … this business was a pyramid scheme based on smoke and mirrors more than zeroes and ones.

Investors were victimized while the defendants got rich.

OneCoin investor Christine Grablis is named as plaintiff in the case.

Named defendants are OneCoin, Ruja Ignatova, Konstantin Ignatov, Sebastian Greenwood and Mark Scott. [Continue reading…]

In a recent email sent out to affiliates, ShareNode has admitted there is no external demand for Nasgo.

The company also announced it was suspending NSG withdrawals until at least Q3 2019. [Continue reading…]

No offense to Jen McAdam… but talk about burying the lead.

In an “exclusive” interview with McAdam, the UK’s Metro has revealed three OneCoin arrests in London over March and April. [Continue reading…]

Things are getting desperate over at 30 Day Success Formula. Since our review just shy of three weeks ago, the company has introduced a new $27,500 gifting tier.

30 Day Success Formula affiliates have also been banned from making those cringey “cash in the mail” videos.

No matter how you cut it though, 30 Day Success Formula is still an illegal cash gifting scheme. [Continue reading…]

Weeconomy began as Flexkom, a pay to play pyramid scheme masquerading as an ecommerce platform.

Flexkom collapsed on or around late 2016. Today the former Flexkom website domain redirects to something called “MPM Group AG”.

Flexkom is believed to have scammed upwards of 40,000 affiliate investors, most of which were in Turkey.

Around the time of Flexkom’s collapse in late 2016, Wee Business Economy was launched.

Weeconomy (aka Wee and Wee Business Economy), is headed up by Flexkom owner Cengiz Ehliz (right).

For all intents and purposes, Weeconomy is a rebranding and continuation of the Flexkom scam.

Read on for a full review of the Weeconomy MLM opportunity. [Continue reading…]

Eaconomy surfaced three or four weeks ago under “Global Takeover” prelaunch branding.

After a cringey “we won’t tell you the company name but plz sign up anyway” period, Eaconomy was revealed about a week ago.

Heading up Eaconomy is President Hassan Mahmoud.

Mahmoud (right) first appeared on BehindMLM back in January, as co-owner of Silverstar Live.

Silverstar Live was a short-lived MLM company, offering unregistered securities under the guise of automated forex bot trading.

I’ve been loosely tracking SilverStar Live’s collapse. Apparently as it was collapsing there was a fallout between Mahmoud and his wife, and convicted fraudster David Mayer.

At some point SilverStar Live was renamed AI Global, and then again to Ai Expert Advisor.

There’s no information about who’s running AI Expert Advisor on its website, but presumably it’s still Mayer.

Bear in mind there’s not much of a company left, with Alexa pegging AI Expert Advisor with a 2.5 million rank (good as dead for an MLM company).

After splitting with Mayer, Mahmoud seems to have taken what he collected and launched his own opportunity.

Mahmoud’s wife, Candace, joined him as co-owner of SilverStar Live.

There’s no mention of her on the Eaconomy website, and she seems to have deleted all her social media profiles.

Not sure what the story is there, but I’m sure she’s enjoying the money she received from SilverStar Live affiliates.

One last note on Eaconomy management; I couldn’t help but notice Sal Leto credited as Vice President of Operations.

Leto is best known for spearheading attempts to market the OneCoin Ponzi scheme in the US.

When that failed Leto switched to iPro Network. When iPro Network collapsed… well, here we are.

Read on for a full review of the Eaconomy MLM opportunity. [Continue reading…]

Caelus Energy Alaska provides no legitimate information on its website about who owns or runs the business.

Caelus Energy Alaska’s website does have an “about us” section, but it’s populated with fictional management represented by stock photos.

The Caelus Energy Alaska website domain (“caeoil.com”) was first registered in 2017.

The private domain registration was last updated on March 27th, 2019.

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…]