Upon being appointed one of the first tasks the Digital Altitude Receiver undertakes is to determine whether the business can continue legally and profitably.

As per BehindMLM’s Digital Altitude review, the company’s business model consists of getting people to hand over increasing amounts of money.

Those recruited and convinced to pay thousands of dollars in fees earn commissions by recruiting others who do the same.

Or as the Receiver puts it;

The primary enticement and benefit offered to consumers in exchange for them doing business with the Receivership Entities is the representation that they may make $100,000 or more in 90 days.

Once consumers are enticed to do business with Digital Altitude, it appears that the entire structure of Digital Altitude is to disguise sales activities designed to pull greater and greater amounts of funds from consumers under the guise of “coaching”.

Not surprisingly, the Digital Altitude Receiver has thus concluded

he cannot operate the Receivership Entities in their current form lawfully and profitably, and thus, in accordance with his responsibilities under the TRO, he has suspended operations pending the Preliminary Injunction hearing and further investigation.

The decision was made on or around March 1st and took effect immediately. [Continue reading…]

Following an ongoing investigation into OneCoin by the Antitrust and Consumer Protection Authority, promotion of OneCoin across Italy was banned in late 2016.

OneCoin’s response to the injunction saw the company claim one OneCoin shell company was not related to another, despite being owned and operated in tandem by the same people.

The AGCM concluded their investigation into OneCoin in mid 2017.

The regulator formally banned OneCoin, declared it a “deceitful Ponzi scheme” and issued a 2.5 million EUR fine.

Once again OneCoin tried to get out of it by again asserting its use of shell companies protected it from regulation.

While OneCoin’s public response to the Ponzi ban was laughable, the company did file an appeal to preserve its perceived right to scam Italians.

OneCoin’s appeal has been playing out since mid 2017, with a decision finally reached a few weeks ago. [Continue reading…]

Serial scammer Todd Hirsch has been arrested in Panama.

According to a local news report, Hirsch was charged and found guilty of fleeing/attempting to elude, DUI, reckless driving and six counts of terroristic threats.

The terroristic threats charges stemmed from Hirsch threatening to harm or kill law enforcement officers during his pursuit and subsequent arrest.

After being charged, Hirsch was sentenced to rehabilitation.

He “left the facility” last November but failed to “return to jail”. [Continue reading…]

Coins of Change provide no information on their website about who owns or runs the business.

The Coins of Change website domain (“coinsofchange.org”) was privately registered on July 20th, 2017.

Of note is the Coins of Change website domain uses the name-servers of “bitcoinsetupsite.com”.

If you visit that site you’ll see it’s a clone of the Coins of Change website.

The owner of the Bitcoin Setup Site is Mike Hollen, through an address in the US state of Iowa.

The registration details of the email address domain Hollen used to register the Bitcoin Setup Site suggest he works for “Pronto Web Services”, who seem to be a shell company registered in Panama.

The email address Hollen used to register this domain also suggests he works for IsoMedia. On their website IsoMedia provide web hosting services.

To what extent Hollen is involved with Coins of Change beyond website development is unclear.

The official Coins of Change Facebook group meanwhile lists three admins; Edmond Lee, Jorge Raziel and Domingo M. Silvas.

It is highly likely that one or more of the individuals are running Coins of Change.

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…]

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

The HitStake website domain (“hitstake.com”) was privately registered on February 13th, 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…]

Although they’ve framed it as a merger, by all appearances Ariix looks to have acquired NuCerity on March 5th. [Continue reading…]

The latest Traffic Monsoon Receiver’s quarterly report suggests that a victim claims portal might not be too far off. [Continue reading…]

Texas might have some competition as the top cryptocurrency securities fraud regulator in the US, following a Power Mining Pool cease and desist issued in North Carolina. [Continue reading…]

In a March 5th YouTube video titled, “GLAD I DON’T KNOW WHO’S BEHIND BITCONNECT”, top investor Trevon James has confirmed the FBI are investigating BitConnect. [Continue reading…]

As of yet I don’t have any news on the outcome of the scheduled preliminary injunction hearing today.

As per the FTC vs. Digital Altitude case docket over the past week or so though, here’s what we do know. [Continue reading…]