Konstantin indictment stay suggests DOJ cooperation
Under the Speedy Trial Act, the DOJ had until April 26th to file an indictment or information pertaining to Konstantin Ignatov.
An April 26th filing reveals continues negotiations between Konstantin’s attorney and the DOJ. [Continue reading…]
Guardian Capital AG Review: Malaysian trading Ponzi scheme
Guardian Capital AG (aka GCG Asia) provides no information on their website about who owns or runs the business.
The Guardian Capital AG website domain (“guardiancapitalag.asia”) was registered on December 22nd, 2018.
Guardian Capital AG is listed as the owner, through an incomplete address in Switzerland.
Further research reveals Guardian Capital AG affiliates naming Darren Yaw as co-founder of the company.
On Facebook Yaw goes by Darren Yaw Foo Hoe. His profile states he lives in Kuala Lumpur, Malaysia.
Thus it appears Guardian Capital AG is a Malaysian company. Any links to Switzerland are assumed to be shell incorporations.
To that end Switzerland’s Financial Market Supervisory Authority has issued a warning that Guardian Capital AG is not a registered corporation.
Yaw appears to be heavily involved in cryptocurrency. As per the screenshot above, he is co-founder of the World Crypto Asset Blockchain Alliance (WCBA).
As per their website, WCBA hosts various cryptocurrency related seminars.
The WCBA website is unranked by Alexa, suggesting that as a business it’s a flop.
Curiously, despite Darren Yaw co-founding both companies, WCBA is pretending to have nothing to do with Guardian Capital AG.
Visitors to the WCBA website are presented with the following popup:
The message suggests WCBA was a client of Guardian Capital AG but is no longer.
Whether they are or they aren’t though doesn’t change the fact Darren Yaw is running both companies.
As far as I can tell, GCG Asia is Darren Yaw’s first MLM opportunity. [Continue reading…]
Ash Mufareh pulls GoFounders Onpassive “workaholic” exit-scam
After collecting GoFounders fees for almost a year, Ash Mufareh has told affiliates he’s taking their money and quitting. [Continue reading…]
OneCoin scammers used NZ and AU to circumvent Samoan ban
After Samoan authorities banned OneCoin transactions in mid 2018, local promoters began laundering funds through New Zealand.
This caught the attention of New Zealand authorities, who detailed the operation in a 124 page intelligence report. [Continue reading…]
AiYellow jumps on crypto bandwagon with Yellow Trading Coin (YTC)
AiYellow’s hopping on the MLM crypto bandwagon is as cookie cutter as it gets.
Before we get into that though, some history. [Continue reading…]
Digital Income System Review: $25,000 traffic rotator pyramid scheme
Digital Income System provides no information on their website about who owns or runs the company.
As I write this, the Digital Income System website is nothing more than an affiliate login page.
If you visit through a Digital Income System affiliate referral link, you’re presented with recruitment marketing.
The Digital Income System website domain (“digitalincomesystem.com”) was first registered in April 2018.
The private registration was last updated on December 6th, 2018.
In my research into Digital Income System I came across affiliates naming Derek Jones and Bill Foley as owners of the company, but I wasn’t able to conclusively verify this.
The closest I got was inconclusive social media profile mentions and this Florida incorporation for Digital Income System Inc.
Either that’s a typo or Derek Jones’ real name is Derek Foley (???).
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…]
Wellmont Capital: Antony Norman gobbles up what’s left of IQ Chain
Trying to track the current status of whatever company is fronting the Ormeus Coin scam, reveals a convoluted mess of shell companies.
Here’s what I’ve been able to piece together. [Continue reading…]
BitFund4U Review: Eight-tier 0.005 BTC gifting scheme
BitFund4U provides no information about who owns or runs the company on their website.
The BitFund4U website domain (“bitfund4u.com”) was registered on March 20th, 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…]
ArbiStar Review: Trading bot Ponzi scheme run by serial scammer
ArbiStar operate in the cryptocurrency MLM niche. The company is headed up by CEO Santi Fuentes, who is based out of Spain.
In his ArbiStar corporate bio, Fuentes claims to be
one of the most experienced people in the world of Referral Marketing.
He has led teams of thousands of people with great success.
Fuentes (right) first popped up on BehindMLM’s radar in 2014, as a top investor in Global Unity.
Global Unity was a scam tied to the WCM777 Ponzi scheme.
In 2015 Fuentes emerged as a top investor in MoneyBox TV, another Ponzi scheme.
Fuentes’ Arbistar corporate bio addresses his involvement in fraudulent investment schemes;
He has also known as team leader the failure of some projects where companies were not transparent and cheated their sales teams.
For this reason he is the ideal person to lead Arbistar 2.0.
Prior to getting involved in Ponzi schemes, Fuentes was an Organo Gold distributor.
A marketing video circa 2013 cites Fuentes as an Organo Gold Ruby.
Of note is the current iteration of ArbiStar appears to be a reboot. This is denoted by the “2.0” added to the company logo.
It seems the first ArbiStar model collapsed, although I wasn’t able to find specific details.
Read on for a full review of the ArbiStar MLM opportunity. [Continue reading…]
$48 million clawback lawsuit filed against Traffic Monsoon scammers
The Traffic Monsoon Receiver has filed a class-action clawback complaint, targeting top net-winners in the $175 million dollar Ponzi scheme. [Continue reading…]
