TelexFree co-owner Carlos Wanzeler’s brother, Fabio Wanzeler, was a net winner in the $3 billion dollar Ponzi scheme.

Fabio Wanzeler profited some $633,578 off of TelexFree victims. His wife, also an investor, wound up losing $7000.

Not surprisingly, the net-winner status of Fabio Wanzeler and his wife saw them face clawback litigation from the court-appointed Trustee. [Continue reading…]

Following on from a claims meeting held in mid October, a further deadline extension till January 9th has been approved. [Continue reading…]

InterCoin Capital operates in the cryptocurrency MLM niche.

Outside of two Gmail addresses, no corporate details are provided on the InterCoin Capital website.

The company does have an official LinkedIn profile (“INTERCOINCAPITAL”), which cites California as its base of operations.

From what I’ve seen InterCoin Capital is being primarily marketed across south-east Asia. There is no evidence to suggest InterCoin Capital has any physical business operations in the US.

Heading up InterCoin Capital is CEO Roman Arayan (right)

Arayan (right) does appear to be an actual person, as evidenced by multiple photos and videos taken at InterCoin Capital promotional events.

Outside of InterCoin Capital itself though, Arayan doesn’t have an independent online footprint that can be verified.

Along with InterCoin Capital (and Arayan) purportedly being based out California, I’m flagging this as highly suspicious.

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

Success Mastermind provides no information on their website about who owns or runs the business.

The Success Mastermind website domain (“mysuccessmastermind.com”) was privately registered on September 20th, 2018.

Although Success Mastermind claims to be ‘operated from Auckland, New Zealand by a group of entrepreneurs‘, the provided corporate address is actually that of a clothing store.

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…]

Binom provides no information on its website about who owns or runs the company.

The Binom website domain (“binom-corp.com”) was privately registered on March 22nd, 2018.

Despite not existing until around eight months ago, Binom claims it was founded in 2015.

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…]

Splitt operates in the cryptocurrency MLM niche. A corporate address in London, UK is provided on the Splitt website.

A quick search however reveals over eighty companies operating from the same address, suggesting it is virtual in nature.

Patel Nguyen is identified as CEO of the company on Splitt’s website.

Nguyen’s Splitt corporate bio identifies him as

a self-made man who has worked his way up from the bottom to become one of the most admired people in the South Asian cryptocurrency world.

After completing his education and getting his degree, Patel Nguyen worked for a series of tech firms, including household names like IBM, Google and Facebook.

Even so, Patel Nguyen never lost sight of his entrepreneurial ambitions, and the new startup known as Splitt is the end result of those lofty dreams.

Whether Nguyen, as represented on the Splitt website, actually exists is unclear.

The most obvious sign something is up is Nguyen has no online footprint. The only evidence he exists is a black and white photo of Nugyen on Splitt’s website, that doesn’t appear anywhere else online.

You’re going to tell me “one of the most admired people in the South Asian cryptocurrency world” and someone who purportedly worked at Google, IBM and Facebook, has absolutely no online footprint whatsoever?

Yeah, not buying it. Nice try with the cropped black and white corporate photos though.

Further pulling Splitt’s corporate makeup into question is its “Splitt Corp Limited” UK incorporation.

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…]

My Cryptobit operates in the MLM cryptocurrency niche.

Although My Cryptobit provides a full list of executives on their website, most have little to no social footprint – which is always suspicious.

Two names I was able to peg to My Cryptobit are David Bras and Ozcan Come.

On the My Cryptobit website Come is cited as the company’s owner, CEO and founder.

David Bras is only cited as “Department Marketing Content”, however on his Facebook profile he also identifies himself as a My Cryptobit owner and founder.

Ozcan and Bras appear to be based out of Switzerland and circa 2017 launched something called Capital Solutions:

Whatever Capital Solutions was, it was abandoned in October 2017. Ozcan and Bras founded My Cryptobit a month later in November.

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

Viv is a utility and service subscription based MLM opportunity.

The company is based out of Connecticut in the US and headed up by CEO Cami Boehme.

As far as MLM goes, Boehme’s Viv corporate bio is light on specifics but does provide some facts and figures.

Cami brings depth and breadth of experience to Viv, as a former board member and Chief Strategy Officer of a $744 million energy company, and a former Chief Operating Officer of the 59th largest direct sales company in the world.

The unnamed company above is Viridian, of which Boehme (right) was a “partner” of and Chief Operating Officer.

Viridian was also utility based MLM opportunity, combined with a travel discount offering.

In December 2017, Viridian abruptly announced it would be terminating MLM business operations from March 2018.

Unfortunately it wasn’t until March itself that it emerged Viridian had been under investigation by the Massachusetts Attorney General’s Office.

The Massachusetts AG’s Office had been investigating Viridian over the use of “deceptive marketing and sales tactics” to rope consumers into “costly contracts with high electricity rates”.

On March 29th The Massachusetts AG’s Office announced the conclusion of their investigation, resulting in a $5 million dollar settlement with Viridian.

According to her LinkedIn profile, Cami Boehme bailed from Viridian in November 2017.

Boehme was appointed CEO of Viv in December 2017, the same month Viridian announced the pending termination of its MLM operations.

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

In an attempt to retain almost a million dollars fraudulently obtained through MOBE, Peoples Trust in Canada decided the preliminary injunction didn’t apply to them.

This prompted a lawsuit against Peoples Trust by the MOBE Receiver, which is currently playing out in the Superior Court of Quebec. [Continue reading…]

This is a bit of an odd one. Not only for the timing (there are elections in the US happening right now), but also because although the lawsuit pertains to funds lost through ACN, ACN isn’t a named defendant.

Oh and the plaintiffs are four anonymous individuals.

Things that make you go hmm… [Continue reading…]