A securities fraud cease and desist that closely ties into Bitqyck has been issued in Texas.

Bitqyck was launched in early 2017 by co-founders Bruce Bise and Samuel (Sam) Mendez.

They were joined by Mark Steven Royer shortly after launch.

The Texas Securities Board refers to Bise as “a white collar criminal”. Mendez is a former attorney who was disbarred ‘after committing acts of dishonesty and moral turpitude by misappropriating funds‘.

In other words, your typical MLM cryptocurrency company owners. [Continue reading…]

Perso Hybrid markets itself as “a different way of doing bank”.

The company website identifies Jocsan Perso as CEO but doesn’t reveal where it is being operated from.

Perusal of Perso HybridBank’s official Facebook page reveals the company is based out of Sinaloa, Mexico.

According to Jocsan Perso’s corporate bio, he

has been a full-time trader since 2004 in major international markets and a binational leader in the world’s largest Marketing Network.

He has sold more than 30 million dollars in products and has had personal gains of over 500 thousand dollars.

In actuality, Perso (right) has a criminal history in crystal meth trafficking.

Perso’s actual name is Jocsan Octavio Perez Soto. “Perso” appears to be a portmanteau of Perez and Soto.

In 2013 Tijuana’s State Preventative Police busted Perso with 3.4 kg of crystal meth.

Once the agents were stationed in the perimeter of action, police intervention took place, during which a policeman observed at first sight that a plastic container was located on the passenger seat, which today it is known that it contained a white and granulated substance that apparently is a synthetic drug known as “crystal”.

While the vehicle that was in the driver’s seat descended from the vehicle, who said to be called Jocsan Octavio Pérez Soto, 30 years old, originally from Culiacán, Sinaloa.

The estimated street value of the haul at the time was $82,000.

Sort of puts Perso’s claim of selling “$30 million dollars in products” into perspective hey.

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

The good news TelexFree victims waiting for an update on allowed claims is you’re one step closer to distribution.

The bad news is the latest update means payments probably won’t be going out this year. [Continue reading…]

iCan2 Club provides no information on their website about who owns or runs the business.

Infact as I write this, the iCan2 Club website is nothing more than an affiliate login portal.

The iCan2 Club website domain (“ican2.club”) was registered on June 13th, 2018. All we get from the registration is that whoever owns iCan2 Club has provided a contact address in Norway.

With that in mind, the iCan2 Club Terms and Conditions state they are

governed by, construed and enforced in all respects in accordance with the laws of Hong Kong.

Note that the Hong Kong corporate address provided in iCan2 Club marketing material is that of a virtual office provider.

This suggests iCan2 Club has no actual physical presence in Hong Kong.

An iCan2 Club “leadership event” is currently scheduled for January 2019, so Thailand is another possibility.

One final bit of information I’ll include is the following from iCan2 Club’s official compensation material;

iCAN2 is the distribution and marketing entity of Agamas International Ltd.

The company was founded in mid 2018, with an operational service and support office in Kowloon, Hong Kong.

There are a few similar named companies but I was unable to find anything further on Agamas International specifically.

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…]

CryptoLux provides no actual information on their website about who owns or runs the company.

As is typical of MLM crypto opportunities, a stock image of some guy is used to represent “Robert Alexander”, who CryptoLux claim is CEO and Founder of the company.

The same name and corporate bio appears on another website, FXTM Capital (Advanced Markets Invest):

FXTM Capital appears to be a collapsed Ponzi scheme touting a 100% monthly ROI.

It should be obvious that whoever is behind FXTM Capital is also behind CryptoLux.

The CryptoLux website domain (“cryptolux.io”) was privately registered on November 28th, 2017.

In an effort to feign legitimacy, CryptoLux provides a UK incorporation link on their website for “CryptoLux LTD”.

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

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…]

The MLM side of DasCoin is gearing up for its third name-change.

As announced at DasCoin’s recent Dubai event, Net Leaders will be renamed and relaunched as Excelz on December 1st. [Continue reading…]

Top Italian financial regulator CONSOB has issued a cease and desist against Eagle Bit Trade. [Continue reading…]

As part of their civil TelexFree case, on October 4th and November 5th the SEC deposed Faith Sloan.

Whereas Sloan certainly isn’t the first prominent MLM underbelly figure to be deposed, what makes this deposition unique is that the SEC has made the entire transcript public.

Sloan’s deposition provides revealing insight into the mind of a serial-scammer.

Her responses are simultaneously raw, incriminating and at times frustratingly elusive. But they’re nonetheless real and make for a thoroughly interesting read.

In essence, this is probably as close to an “ask me anything” we who keep track of the MLM underbelly are going to get. [Continue reading…]

What kind of MLM marketer is Faith Sloan?

According to the SEC she’s one that

has participated in at least nine multi-level marketing programs (including TelexFree) in which a promoter recruits other promoters and is compensated according to the number of persons recruited.

Yep. The SEC just publicly slammed Faith Sloan for serial scamming the public through pyramid schemes. [Continue reading…]

The regulatory noose around Ruja Ignatova’s neck has tightened even further, following the arrest of Sebastian Greenwood.

We all seem to have slept on the news, which was reported in a throwaway paragraph by the Bangkok Post on November 5th. [Continue reading…]