Eight TelexFree condos recovered from Carlos & Priscilla Costa
As per an agreed settlement, Carlos Costa and his wife are set to surrender eight condominiums to the TelexFree Trustee. [Continue reading…]
Default entered against Matt Lloyd and MOBE related entities
Following a Motion for entry of clerk’s default by the FTC on February 1st, default has been entered against Matt Lloyd, MOBE and several MOBE related entities. [Continue reading…]
Lyoness loses second Norway appeal, permanently banned nationwide
The Norwegian Gaming Board has rejected Lyoness’ second appeal, resulting in the Ponzi scheme being permanently banned in Norway. [Continue reading…]
Infinity Residuals Review: Ten-tier Ponzi cycler with monthly reboots
Infinity Residuals provides no information on its website about who owns or runs the business.
The Infinity Residuals website domain (“infinityresiduals.com”) was privately registered on March 9th, 2018.
At the time of publication Alexa estimates that 61% of traffic to the Infinity Residuals website originates out of the US. Switzerland is the second largest source of traffic (31%).
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…]
Fabio Wanzeler claims addendum added to his TelexFree settlement
Fabio Wanzeler, brother of TelexFree owner Carlos Wanzeler, is unhappy with his TelexFree settlement.
The settlement saw Wanzeler surrender two properties to the TelexFree Trustee, to settle $633,578 Wanzeler received as a TelexFree net-winner.
Wanzeler signed off on the settlement last November but now claims the Trustee added an addendum, which he never agreed to. [Continue reading…]
BidRace Review: BID Ponzi points with BDR altcoin exit-scam
The BidRace website provides no information about who owns or runs the business.
As I write this the BidRace website is nothing more than an affiliate login form.
The BidRace website domain (“bidrace.com”) was first registered in 1999.
The domain registration details were last updated in October 2018, suggesting this is when the current owner(s) took possession of it.
I was able to confirm this with a Wayback Machine archive from August 2018, showing the domain was recently was purchased.
The last Wayback Machine snapshot was November 17th, 2018, and still shows the “domain has been purchased message”.
This means that the current BidRace website didn’t go live until late November, early December 2018 at the earliest.
Despite not existing up until a few months ago, BidRace marketing material states;
The headquarters of BidRace has been in Spain since 2010, and we have developed technological solutions and tools for the medical and pharmaceutical areas.
In 2012, our team began developing software and tools in the FOREX financial market.
Along with the inclusion of several trademarked brands, none of which have anything to do with BidRace, the company’s marketing claims are assumed to be baloney.
As I write this BidRace appears to be being heavily promoted in Togo, a country in west Africa.
Alexa currently cite Togo as the only notable source of traffic to the BidRace website (12%).
The use of euros in the BidRace compensation plan meanwhile suggests BidRace is being operated out of Europe.
Update 14th February 2019 – It appears Joao Severino might be running BidRace.
As per Spanish corporation records for “BIDRACE TECH SOCIEDAD ANONIMA”, Joao Severino recently attempted to hide ownership of the company.
Severino, as Fernandes Severino Joao Filipe, appears to have switched out sole ownership of BidRace Tech Sociedad Anonima with someone going by “Palmera Guedes Da Silva Pedro Manuel Do Nasciment”.
The name-change was recorded by the Official State Gazette Agency on December 26th, 2018.
Joao Severino is best known as one of the co-founders of USI-Tech.
After setting the company up Severino retreated to the shadows.
USI-Tech collapsed early last year following securities fraud cease and desist notices issued by multiple regulators.
Despite millions believed to have been lost by USI-Tech victims, to date Severino and those he worked with have not been held accountable. /end update
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…]
Prizm Review: MMM Global scammer launches own scamcoin
Prizm operates in the cryptocurrency MLM niche and launched in mid 2017.
A November 2017 blog post on the Prizm website identifies Alexei Muratov as Prizm’s founder.
Prior to Prizm, Alexei Muratov was heavily involved in the MMM Global Ponzi scheme.
Muratov (right) focused on scamming MMM Global investors in India.
For his efforts, Muratov was arrested by Indian authorities in May 2013.
The financial apocalypse contemplated by Russian ponzi King Sergei Mavrodi was aborted in India by the Assam police earlier this week.
Alexei Muratov, Mavrodi’s representative in India has been arrested.
MMM Global went on to collapse worldwide in 2016. Just over a year later Muratov launched Prizm.
Read on for a full review of the Prizm MLM opportunity. [Continue reading…]
NewYou Review: CBD oil supps with affiliate autoship recruitment
NewYou launched in mid 2018 and operates in the cannabinoid MLM niche.
The company is based out of California in the US and headed up by husband and wife co-founders, Ray and Daran Grimm.
Ray Grimm Jr. (right) first appeared on BehindMLM in 2017, as President and CEO of Laguna Blends.
Laguna Blends marketed hemp products through My Club 8.
A few months after My Club 8’s prelaunch, Ray Grimm Jr. disappeared from Laguna Blends’ marketing.
Laguna Blends does not appear on Grimm Jr.’s LinkedIn profile, which dates back to 1988.
On his personal website, Grimm Jr. does acknowledge his stint at Laguna Blends, but only as a consultant.
In 2016, Ray began consulting with Laguna Blends and within a year became President and CEO.
Laguna Blends was a CBD-based product company located in Canada that under Ray’s visionary leadership acquired Isodiol, another CBD-based product company located in the US.
As a result, Laguna Blend’s stock went from .05 per share to over $2 per share during a two-year period.
As per Daran Grimm’s NewYou corporate bio, she started in MLM as an Avon lady.
Starting at the age of 17 years old as her neighborhood Avon lady, Daran has had a very successful career in the Direct Sales industry both as a Top Income earning distributor and company owner.
Over the last three decades, she helped build three multi-million dollar brands in the health and wellness industry alongside her husband.
Read on for a full review of the NewYou MLM opportunity. [Continue reading…]
Lyoness victims in Italy demand return of their losses (53 million euro)
Following a nation-wide ban and 3.2 million euro regulatory fine, Lyoness affiliate investors in Italy want their money back.
To that end Lyoness’ Italian victims have lawyered up to demand the return of their losses. [Continue reading…]
SEC files for default judgment against DFRF Enterprises
In what is essentially a continuation of litigation prior to the 2015 case freeze, the SEC has filed a renewed default judgment motion against DFRF Enterprises.
In their February 1st motion the SEC argues that DFRF Enterprises is in default, because Daniel Filho filed a response to their original compliant on behalf of the company. [Continue reading…]
