UbitEx fails to provide verifiable ownership or executive information on its website.

UbitEx operates from two known website domains:

1. ubitex.com – first registered in 2003, private registration was last updated on July 17th, 2024
2. ubit.press – privately registered on March 28th, 2024

On its .COM website and social media accounts, UbitEx presents “Alex Sandro” as its CEO:

Mr. Alex Sandro shares his insights on the current state of the cryptocurrency market and how Ubitex is positioned to meet the needs of modern traders.

You’ll get a glimpse into his vision for creating a user-friendly and secure trading environment that fosters innovation and growth.

Alex Sandro doesn’t exist outside of UbitEx’s marketing. That’s because he’s played by an actor based out of Bali, Indonesia.

Unfortunately I don’t have a name. It appears prior to signing on to play UbitEx’s fictional CEO the actor deleted their Bali Model Agency profile.

Nonetheless, here’s “Alex Sandro” modeling clothes for an Indonesian retailer:

As to who’s actually running UbitEx, Chinese features heavily in UbitEx’s marketing.

This strongly suggests whoever is running UbitEx has ties to China.

As of September 2024, SimilarWeb tracked top sources of traffic to UbitEx’s website as Taiwan (11%), Indonesia (6%), Singapore (6%) and Israel (4%).

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…]

QubitsCube fails to provide ownership or executive information on its websites.

QubitsCube operates from two known website domains “qubitscube.cc” and “m.quibitscube.com”.

Both of QubitsCube’s website domains were first registered in November 2023. The private registrations were last updated on October 13th, 2024.

Over on YouTube, QubitsCube provide a series of staged marketing videos featuring actors.

This random individual, with a very “English is not my first language” accent is presented as QubitsCube CEO “Dominick McGrail.

McGrail doesn’t exist outside of QubitsCube’s marketing material, making him a prime Boris CEO candidate.

In one of QubitsCube’s marketing videos we can see rented office being leased by companies with Chinese and Japanese names:

The company who owns the rented office space appears to be “Nest”. The lessee company names suggest QubitsCube’s Boris CEO marketing videos were shot somewhere in Asia.

The rest of QubitsCube’s marketing videos are stock footage with an AI robodub. This is typical of non-native English speaking admins.

In an attempt to appear legitimate, QubitsCube provides FINCen and New York company registration certificates.

QubitsCube LLC was purportedly registered in New York on November 25th, 2023.

Due to the ease with which scammers are able to incorporate shell companies with bogus details, for the purpose of MLM due-diligence these certificates are meaningless.

FINCen isn’t a financial regulator. Registration of a shell company with FINCen is equally meaningless.

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…]

M3 Marsverse fails to provide ownership or executive information on any of its websites.

M3 Marsverse has three known website domains:

1. m3-mars.com – privately registered on May 28th, 2024
2. mars-verse.io – privately registered on June 28th, 2024
3. m3dao.io – privately registered on June 1st, 2024

Of note is M3 Marsverse’s official marketing presentation having a Chinese character in its title:

This suggests whoever is running M3 Marsverse has ties to China.

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…]

JD Global fails to provide ownership or executive information on its website.

JD Global’s website domain (“jd-global.org”), was privately registered on September 27th, 2024.

If we look in JD Global’s website source-code, we find Chinese:

This suggests whoever is running JD Global has ties to China.

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…]

Next Level Trade fails to provide verifiable ownership or executive information on its website.

Next Level Trade presents “Ethan Vinson” as its CEO:

Ethan Vinson of course doesn’t exist. He’s a Boris CEO played by Russian actor Alexey Ignatiev (Алексей Игнатьев).

BehindMLM previously came across Ignatiev playing “Brandon Watts”, a fictional executive in Beurax:

Beurax was a 2020 Boris CEO Ponzi scheme. The scam collapsed shortly after BehindMLM outed Watts as an actor in early 2021.

Like Beurax, Next Level Trade falsely represents it is based out of Australia. This is done through NextLevelTrade Pty Ltd, an Australian registered shell company.

Next Level Trade also presents potential investors with a Prudential Financial insurance contract:

Bogus investment contracts are another marketing ploy typical of Boris CEO Ponzi schemes.

Boris CEO Ponzi schemes are typically run by eastern European scammers (Russia/Ukraine):

Next Level Trade’s website domain (“nlt.ltd”), was registered in October 2023. The private registration was last updated on September 28th, 2024.

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…]

Several The Traders Domain scammers have consented to preliminary injunctions.

Between October 22nd and 25th, the CFTC filed preliminary injunction consent orders pertaining to: [Continue reading…]

Barbados’ Financial Services Commission has issued a “click a button” app Ponzi fraud warning.

As per an October 29th report from Barbados Today;

The Financial Services Commission (FSC) on Monday issued an urgent warning about investing in multi-level marketing (MLM) schemes, as a scheme masquerading as a YouTube and TikTok partnership actively recruits Barbadians with promises of quick earnings.

The scheme requires participants to initially engage in a three-day probationary period after clicking a provided link, with recruiters promising earnings of $2.50 per day for clicking five times in designated spaces.

Prospective members are then encouraged to visit the St Michael office of the business and pay approximately $700 to advance to “level two”, which involves making 10 online clicks for promised earnings of US$10 ($20) daily or US$300 ($600) monthly.

This is either a “watch videos” or “social media manipulation” variant of your typical “click a button” app  Ponzi. [Continue reading…]

Siemens VIP fails to provide ownership or executive information on its website.

Siemens VIP’s website domain (“siemensvip.cc”), was registered with bogus details on September 19th, 2024.

Siemens VIP has already attracted the attention of financial regulators. The Central Bank of Russia issued a Siemens VIP pyramid fraud warning on October 18th, 2024.

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…]

GivBux fails to provide ownership or executive information on its websites.

GivBux operates from two website domains:

1. givbux.com – first registered in October 2017, private registration last updated on March 3rd, 2024
2. givebuxglobal.com – privately registered on July 16th, 2024

Further research reveals Kenyatto Jones, aka Ken Jones, citing himself as founder and CEO of GivBux on social media:

On its website, GiveBux provides a corporate address in California. This tracks with a 2019 Washington Department of Financial Institutions consent order, citing Jones as a resident of California.

As per DFI’s consent order, which names GiveBux Global Partners and Jones (right) as Respondents;

Between January and March 2019, the Respondents raised a total of $106,000 from the sale of common stock in Givbux to approximately six investors, including an accredited investor residing in Aberdeen, Washington who purchased 82,000 shares for $41,000.

In addition to the Private Offering Memorandum, Givbux also disseminated an Executive Summary, which contained misleading financial projections. Givbux stated that it had a goal of 1.8 million users within 12 months.

Givbux represented that the value of its purchase transactions would grow from over $130 million in the first year of operations, to over $3.4 billion in the second year, and to over $13.9 billion in the third year.

Givbux’s revenue was projected to grow from approximately $3.2 million in the first year of operations to over $480 million in the third year.

The Executive Summary indicated that Givbux would earn a net profit of $423,151 in the first year of operations, which would grow to over $64 million in the third year.

These projections lacked any reasonable basis in fact. Givbux failed to disclose that these projections were not supported by the company’s historical performance, that the company was still testing and developing its app, and that it had not yet earned any revenue.

The Executive Summary misleading stated that Givbux had “No direct competition in this space at [the] present time (none could be found with an affiliate program).”

In fact, the mobile wallet and mobile payment industry is highly competitive.

In its Private Offering Memorandum, Givbux disclosed that it competes with other well-established global mobile wallet businesses including Apple Pay, Samsung Pay, and Square, which are “much larger than the Company” and have “superior financial resources.”

The Respondents failed to disclose material information regarding the use of investor proceeds, the financial condition of Givbux, and the compensation that would be paid to Jones and other persons.

The offer and/or sale of the common stock described above constitute the offer and/or sale of a security as defined in RCW 21.20.005(14) and (17).

Givbux Global Partners, Inc. and Kenyatto M. Jones each violated RCW 21.20.010, because, as set forth in the Tentative Findings of Fact, they made untrue statements of material fact or omitted to state material facts necessary to make the statements made, in light of the circumstances in which they were made, not misleading.

IT IS FURTHER AGREED AND ORDERED that Respondents Givbux Global Partners, Inc. and Kenyatto M. Jones, their agents and employees each shall cease and desist from violating RCW 21.20.010.

IT IS FURTHER AGREED AND ORDERED that Givbux Global Partners, Inc. shall be liable for and shall pay a fine of $1,000 on or before the entry of this Consent Order.

IT IS FURTHER AGREED AND ORDERED that Givbux Global Partners, Inc. shall be liable for and shall pay investigative costs of $500 on or before entry of this Consent Order.

Jones signed the Consent Order on July 17th, 2019.

Pursuant to GiveBux setting a goal of 1.8 million users by the end of 2020, as of October 2024:

• GivBux on the Apple Store has 38 ratings (downloads unknown)
• GivBux on the Google Play store has between 5000 to 9,999 downloads

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…]

FlokiAI fails to provide ownership or executive information on its website.

FlokiAI’s website domain (“flokiai-gpt.com”), was registered with bogus details on October 1st, 2024.

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…]