Stream Energy and NRG Energy have entered into a $300 million acquisition agreement.

The agreement will see NRG Energy acquire steam’s “retail electricity and natural gas businesses”.

An MLM company selling off its retail customers? This can’t be good… [Continue reading…]

Brazilian authorities have issued a FX Trading Corp investment fraud warning. [Continue reading…]

Visiber operates in the numerology MLM niche and is based out of Malaysia.

The company is headed up by co-founder “David” Choong Jeng Hew.

Jeng goes by his first two names and styles himself as a “Dato David” on Facebook.

Jeng (right) founded Visiber with Patrick Tan Boon Jin in 2005. The pair worked together until Jin left the company in 2013.

According to a source we’ve been in contact with;

Tan left the company in 2013 because of some internal disputes. Apparently he was double crossed by David Hew and the other directors – Eng Chip Jin, Billy Lai, Gerald Lee and Kwan Hep Chuen in terms of company shares and profit.

After he left, they created a story that Patrick was the one who double crossed the company and worshipped demons.

Possibly due to language-barriers, I was unable to personally verify the above or put together an MLM history on Hew.

For reasons that aren’t immediately clear, Visiber is registered with the SEC under “Visiber57”.

Visiber57 is registered as a shell company in Delaware through a Hong Kong address.

The Hong Kong shell company appears to be called 57 Society, and was purchased from a third party in 2016.

On the Visiber website, the company lists its actual corporate address in Selangor, Malaysia.

According to Visiber’s last quarterly report ending February 2019, the company recorded a $14,113 net loss.

Note that Visiber’s quarterly report is unaudited. Given the company has no physical business operations in the US, the accuracy of Visiber’s reporting is thus called into question.

One additional word of warning; I’ve yet to see a legitimate MLM company out of Malaysia operated by a Dato.

With no disrespect towards Malaysian culture intended, over the years MLM companies run by Datos have become synonymous with fraud.

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

I feel like BitConnect 2.0 isn’t something I should have to even cover, but here we are.

Up until its latest repurposing, the BitConnect 2.0 website domain was used to promote fraudulent Tron DAPP Ponzi schemes (Tron3D being the last I believe).

On or around May 17th the domain was repurposed with a BitConnect 2.0 launch timer. [Continue reading…]

Dennis Windsor’s long-running lawsuit against Neora might be coming to an end, following representation to the court that a settlement is on the horizon. [Continue reading…]

In a bid to continue to entice investment into their illegal unregistered securities investment scheme, Cloud Token has registered itself with the Australian Securities and Investments Commission (ASIC).

Cloud Token has no physical business operations in Australia. Nor is Australia a significant source of investment revenue for the company (Alexa).

Rather Cloud Token is run by scammers in Singapore, who are currently soliciting investment primarily from Japan, the US and Brazil.

So why register with ASIC? [Continue reading…]

AdvoCare has announced that it is dumping it’s MLM opportunity.

The decision was made following “confidential talks” with the FTC. [Continue reading…]

In an announcement published earlier this month, the Zeek Rewards Receiver has provided some updates on final distribution payments. [Continue reading…]

bUnited operates in the ecommerce MLM niche and launched around five years ago.

The company’s website domain (“bunited.com”) was first registered in 2014. Promotion of the company however began on or around mid 2015.

After nothing much happening since then, measurable interest in the company started earlier this year.

At present Alexa pegs Brazil (10%), Russia (8%) and the US (8%) as the top three sources of traffic to bUnited’s website.

On the management side of things bUnited is headed up by co-founders Jim Jorgensen, Ozan Taner and Johannes Pohle.

Jorgensen serves as Chairman of bUnited. Jorgensen is notable enough to have his own Wikipedia entry, on which he’s described as a serial entrepreneur.

He has started over 25 enterprises since getting his MBA at Stanford Graduate School of Business at the age of 24.

Jorgensen’s industry selection for these new enterprises has been wide, running from retail to manufacturing, from Internet to mail order, and from oil exploration to insurance.

Some of the entities remained small, while two of them reached market caps in excess of $1 billion.

Jorgensen and Pohle’s business relationship dates back to at least 1999 through AllAdvantage.

On his LinkedIn profile Ozan Taner cites himself as founder and CEO of Moema Espresso Republic.

Moema Espresso Republic is purportedly a “leading importer of Brazilian roasted gourmet espresso/coffee”.

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

A second writ deadline extension has given Charles Scoville another month to delay Traffic Monsoon proceedings with. [Continue reading…]