Following on from a USFIA victim claims process submission announced in late January, the submitted process received have received court-approval. [Continue reading…]

With the evident strength of the FTC’s case against Digital Altitude and granting of a preliminary injunction, it’s easy to assume defrauded consumers will receive redress.

In a March 12th message on the Digital Altitude Receivership website however, the Receiver reminds that that’s not necessarily the case. [Continue reading…]

Details of what went down at the Digital Altitude preliminary injunction have been published.

The Civil Minutes for the hearing cover testimony from Michael Force, Mary Dee and Thomas Seaman, the court-appointed Receiver. [Continue reading…]

BitClub Advantage (not to be confused with BitClub Network), provide no information on their website about who owns or runs the business.

The BitClub Advantage website domain (“bitclubadvantage.academy”) was privately registered on July 28th, 2017.

The BitClub Advantage confidentiality and NDA form states:

The Central Forum of the District of São Paulo, São Paulo, is hereby elected to resolve any conflicts arising from this agreement, to the exclusion of any other, no matter how privileged it may be or become.

São Paulo is a city in Brazil.

Further research reveals BitClub Advantage affiliates naming Alex Pereira Salles as CEO of the company.

Salles (right) is a Brazilian national and assumed to be residing in São Paulo.

There’s a distinct lack of information on Salles with respect to BitClub Advantage and the MLM industry in general.

I’m flagging this as suspicious in that Alex Pereira Salles might be a pseudonym.

Note that the individual in the photo above does appear to be connected BitClub Advantage. I was able to tie him to the company across various social media platforms through third-party sources.

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…]

Corex Coin provide no information on their website about who owns or runs the company.

The Corex Coin website domain (“corexcoin.io”) was privately registered on February 9th, 2018.

At the time of publication Alexa estimate India as the largest source of traffic to the Corex Coin website.

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…]

Bitcoiin received a securities fraud cease and desist from New Jersey on March 7th.

If the company is legitimate, they have the option of challenging the notice and registering the with the SEC.

Doing so would require Bitcoiin to provide the public with important information pertaining to the company and its B2G altcoin.

So uh, that’s what they did… right?

Nah, this is MLM crypto baby. [Continue reading…]

Likium provide no information on their website about who owns or runs the business.

The Likium website domain (“likium.io”) was privately registered on December 12th, 2017.

At the time of publication Alexa cite Nigeria as the top source of traffic to the Likium website.

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…]

Malta Private provide no information on their website about who owns or runs the business.

The Malta Private website domain (“maltaprivate.com”) was privately registered on May 15th, 2017.

Malta Private claim to be incorporated in the UK and provide an incorporation number on their website.

This number corresponds with Malta Private Invest Company, which was incorporated in the UK on October 17th, 2017.

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

It is far more likely that whoever is running Malta Private is doing so out of Europe.

Supporting this is Russian and English offered as languages on the Malta Private website.

Alexa also estimate that Russia (15) and the Ukraine (4) are the two top sources of traffic to the Malta Private website.

Needless to say, despite the name, Malta Private doesn’t appear to have any connection to Malta itself.

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…]

Coin Active provide no information on their website about who owns or runs the business.

The Coin Active website domain (“coin-active.com”) was privately registered on January 16th, 2018.

Coin Active provide an incorporation certificate on their website, which corresponds with “Coin Active LTD”.

Coin Active LTD was incorporated in the UK on November 20th, 2017.

The address used to incorporate Coin Active LTD belongs to the famous Harrods, London department store.

Stefan Wiggins is listed as the sole Director of Coin Active LTD, through a separate residential address in London.

No information exists outside of the incorporation linking Wiggins to Coin Active, suggesting he likely doesn’t exist.

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…]

Bonestopco provide no information on their website about who owns or runs the business.

The Bonestopco website domain (“bonestopco.com”) was privately registered on January 21st, 2018.

A corporate address in Hampshire, England is provided on the Bonestopco website.

Further research however reveals this address actually belongs to Ocean Village.

On their website Ocean Village market virtual office packages. As such it appears Bonestopco exists in the UK in name only.

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…]