Jeunesse RICO settlement appeal hits $70,000 roadblock
The cost of appealing what has been condemned as a “paltry” settlement that ‘will inevitably result in the vast majority of (Jeunesse victims) receiving nothing‘, has been set at $70,000. [Continue reading…]
LifeVantage Review 2.0: Pseudo-compliance masks lack of retail focus
About a month ago a reader informed me that our LifeVantage review was out of date.
BehindMLM reviewed LifeVantage in late 2015. Primary concerns raised in the review were a lack of retail focus and mandatory affiliate autoship.
Upon reading our review, the reader claimed I needed “to update your information as there have been several changes since Darren Jensen became CEO.”
Today we revisit LifeVantage for an updated review. [Continue reading…]
Sloan’s TelexFree trial delayed again due to attorney hospitalization
Faith Sloan’s TelexFree trial looks set to be delayed for a second time.
The first delay occurred due to President Trump’s government shutdown.
Now a second delay looks likely due to Sloan’s attorney being hospitalized for medical complications. [Continue reading…]
Quaestor Solutions demands new investors, returns held hostage
Quaestor Solutions is demanding its existing affiliates recruit new investors, failing which the company has threatened to stop paying.
In a very cult-like email, Quaestor Solutions CEO Svend Rasmussen has called on affiliates to demonstrate “their commitment to the Quaestor [sic]”. [Continue reading…]
Eight TelexFree condos recovered from Carlos & Priscilla Costa
As per an agreed settlement, Carlos Costa and his wife are set to surrender eight condominiums to the TelexFree Trustee. [Continue reading…]
Default entered against Matt Lloyd and MOBE related entities
Following a Motion for entry of clerk’s default by the FTC on February 1st, default has been entered against Matt Lloyd, MOBE and several MOBE related entities. [Continue reading…]
Lyoness loses second Norway appeal, permanently banned nationwide
The Norwegian Gaming Board has rejected Lyoness’ second appeal, resulting in the Ponzi scheme being permanently banned in Norway. [Continue reading…]
Infinity Residuals Review: Ten-tier Ponzi cycler with monthly reboots
Infinity Residuals provides no information on its website about who owns or runs the business.
The Infinity Residuals website domain (“infinityresiduals.com”) was privately registered on March 9th, 2018.
At the time of publication Alexa estimates that 61% of traffic to the Infinity Residuals website originates out of the US. Switzerland is the second largest source of traffic (31%).
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…]
Fabio Wanzeler claims addendum added to his TelexFree settlement
Fabio Wanzeler, brother of TelexFree owner Carlos Wanzeler, is unhappy with his TelexFree settlement.
The settlement saw Wanzeler surrender two properties to the TelexFree Trustee, to settle $633,578 Wanzeler received as a TelexFree net-winner.
Wanzeler signed off on the settlement last November but now claims the Trustee added an addendum, which he never agreed to. [Continue reading…]
BidRace Review: BID Ponzi points with BDR altcoin exit-scam
The BidRace website provides no information about who owns or runs the business.
As I write this the BidRace website is nothing more than an affiliate login form.
The BidRace website domain (“bidrace.com”) was first registered in 1999.
The domain registration details were last updated in October 2018, suggesting this is when the current owner(s) took possession of it.
I was able to confirm this with a Wayback Machine archive from August 2018, showing the domain was recently was purchased.
The last Wayback Machine snapshot was November 17th, 2018, and still shows the “domain has been purchased message”.
This means that the current BidRace website didn’t go live until late November, early December 2018 at the earliest.
Despite not existing up until a few months ago, BidRace marketing material states;
The headquarters of BidRace has been in Spain since 2010, and we have developed technological solutions and tools for the medical and pharmaceutical areas.
In 2012, our team began developing software and tools in the FOREX financial market.
Along with the inclusion of several trademarked brands, none of which have anything to do with BidRace, the company’s marketing claims are assumed to be baloney.
As I write this BidRace appears to be being heavily promoted in Togo, a country in west Africa.
Alexa currently cite Togo as the only notable source of traffic to the BidRace website (12%).
The use of euros in the BidRace compensation plan meanwhile suggests BidRace is being operated out of Europe.
Update 14th February 2019 – It appears Joao Severino might be running BidRace.
As per Spanish corporation records for “BIDRACE TECH SOCIEDAD ANONIMA”, Joao Severino recently attempted to hide ownership of the company.
Severino, as Fernandes Severino Joao Filipe, appears to have switched out sole ownership of BidRace Tech Sociedad Anonima with someone going by “Palmera Guedes Da Silva Pedro Manuel Do Nasciment”.
The name-change was recorded by the Official State Gazette Agency on December 26th, 2018.
Joao Severino is best known as one of the co-founders of USI-Tech.
After setting the company up Severino retreated to the shadows.
USI-Tech collapsed early last year following securities fraud cease and desist notices issued by multiple regulators.
Despite millions believed to have been lost by USI-Tech victims, to date Severino and those he worked with have not been held accountable. /end update
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…]
