Recent filings in the WorldVentures v. MaVie lawsuit reveal four separate settlements.

According to the filings, WorldVentures has settled all claims against Abdelwadoud Barakat, his company Advanced Wellness Solutions, Daniel Audet,  Anthony Fitzgerald and Michelle Siddy. [Continue reading…]

iGalen operates in the nutritional supplement MLM niche.

The company launched in early 2017 and is headed up by co-founders Chan Heng Fai and Rajen Manicka.

Both Fai and Manicka hold executives positions in Holista Colltech Limited.

Fai (right) is Holista Colltech’s Director and Manicka is cited as Executive Chairman.

An ASX announcement dated February 2015 reveals iGalen is a Malaysian MLM company that launched in January 2015.

Holista entered into a supply contract with iGalen a month later in February.

Sometime between February 2015 and late 2017, Malaysian based Holista merged with CollTech Australia Ltd.

This created Holista Colltech, which according to their website is ‘headquartered in Perth with extensive operations in Malaysia‘.

In September 2017 Holista CollTech acquired a 47% stake in iGalen for $1.

Holista CollTech’s press-release at the time also revealed

iGalen’s major shareholder is Singapore Exchange-listed Singapore eDevelopment Limited.

Singapore eDevelopment is headed up by Holista CollTech’s Chan Heng Fai.

There’s obviously some corporate nuance here but given that Holista CollTech executives own and operate iGalen, for all intents and purposes they’re the same company.

iGalen do provide a suite address in Florida on their website, but it seems the company is for the most part run out of Malaysia.

One thing I noticed on Singapore eDevelopment Limited’s website is that they conduct their network marketing business through Health Wealth Happiness.

Through Health Wealth Happiness, Fai appears to have a corporate interest in Elepreneurs and Elevacity.

As far as I can tell, Rajen Manicka doesn’t have an MLM history.

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

Following on from our article last week regarding a Dennis Windsor v. Neora settlement, on May 23rd the parties advised the court a partial settlement has been reached. [Continue reading…]

Yesterday evening I received a copy of the New DealShaker dev team report.

This is the report I first became aware of back on May 21st, but at the time wasn’t able to verify its existence.

Last night I had a social engagement I couldn’t get out of, and at the same time I didn’t want to just copy and paste the report for publication.

So if you’ll excuse the delay, here’s the report. [Continue reading…]

Torq Vita provides no information on its website about who owns or runs the business.

The Torq Vita website domain was registered on November 12th, 2018. The domain registration does not specify an owner.

On their website Torq Vita claim to be “headquartered in Great Britain”. To that end the company provides incorporation details for “Torq Vita LTD”.

UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.

Part of Torq Vita is Torqx Coin, which in their whitepaper Torq Vita claims is “registered in Dubai as a cryptocurrency provider”.

Dubai is another scam-friendly jurisdiction.

What we do learn from the Torqx Coin website is that Matthew Jones is credited as Founder and CEO of the company.

No information other than a few dodgy looking social media profiles tie Jones to Torq Vita outside of the whitepaper.

Coupled with the generic name, I’m flagging this as highly suspicious. Whether Jones actually exists is unclear.

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…]

Lira Coin Club provides no information on their website about who owns or runs the business.

In fact at the time of publication, the Lira Coin Club website is nothing more than an affiliate login form.

The Lira Coin Club website domain (“liracoin.club”) was initially registered in August 2017.

The domain registration details were updated with private information on August 12th, 2018.

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 fight over handing back funds fraudulently obtained via MOBE, the Receiver has discovered new potential clawback claims against Synovus Bank and QualPay.

Talk about kicking an own goal… [Continue reading…]

While I’m aware of the common association of cultish tendencies within MLM companies, it’s not something I tend to dwell on.

Extreme fans can be found cheering anything on, so I think definitively drawing a line between fanaticism and a cult is pretty difficult. And it’s not made any easier by those inside or who have left often not willing or feeling unable to speak up.

A recent VICE documentary on LuLaRoe has shed light on a gastric sleeve pressure group within the company.

With compelling testimony from someone on the inside, this is some of the creepiest MLM related behavior I’ve ever come across. [Continue reading…]

Following Kenneth Bell’s appointment as a District Judge, Matthew Orso has taken over the Zeek Rewards Receivership.

In a May 22nd announcement, Orso has provided a roadmap towards final distribution payments. [Continue reading…]

Following the FTC’s push towards contempt proceedings, Eric Pinkston has decided to fully cooperate with the regulator.

To that end Pinkston and the FTC have agreed on final judgment penalties, which have been submitted to the Commission for approval. [Continue reading…]