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…]

The SEC has filed suit against iPro Network, alleging the scam and founder Daniel Pacheco stole $26 million from investors.

In addition to iPro Network and Daniel Pacheco (right), relief defendants named in the SEC’s May 22nd lawsuit include [Continue reading…]

OneCoin’s New DealShaker platform has been abandoned.

For die hard investors still backing OneCoin, New DealShaker was perhaps the only reason they hadn’t lost their minds over how much money they’ve lost. [Continue reading…]

PM International has provided us with the latest example of an MLM company unable to take a hint.

As part of the company’s long running beef with TV2, PM International has filed a third appeal. [Continue reading…]