Whereas regulation of the MLM sector came mostly to a standstill thanks to Trump’s shutdown, in some corners government employees are still active.

One such corner is the Washington state AG’s Office, who are suing LuLaRoe for being a pyramid scheme. [Continue reading…]

Yers doesn’t provide any information about who owns or runs the company on its website.

The Yers website domain (“yers.app”) was registered on May 23rd, 2018. “Y4YERS” is the registered owner through an address in France.

This corresponds with Alexa traffic rankings, which estimates 64% of traffic to the Yers website originates out of France. Switzerland is the only other notable source of traffic (23%).

Despite seeming to be owned and operated from France, Y4YERS appears to be a shell company incorporated in Luxembourg.

Yers’ general terms and conditions establishes

contractual relations between the simplified joint stock company Y4YERS SAS, having its registered office at 5, Boulevard Royal, L-2449 Luxembourg, registered with the RCS Luxembourg under the number B213932.

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…]

FutureAdPro is going through its second collapse, with affiliate ROI payments slashed by up to 60%.

Referral commissions on invested amounts have also been further manipulated to reward only FutureAdPro’s top recruiters. [Continue reading…]

Following an almost two year wait, earlier today a decision on Charles Scoville’s Traffic Monsoon Ponzi appeal was published.

In a decision that positively nobody could have predicted, the Tenth Circuit appeals court has denied the Traffic Monsoon appeal. [Continue reading…]

Despite having a whole section dedicated to transparency, Pro Mine Technologies fails to disclose company ownership details on its website.

A marketing document provided on the Power Mine Technologies website however identifies Aidan Parr as owner and Director of the company.

Parr is from the UK, which corresponds with Pro Mine Technologies LTD’s UK incorporation in November 2018.

Beyond providing an official looking certificate to parade about on Facebook however, Pro Mine Technologies’ UK incorporation is meaningless.

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

On his personal Facebook profile, Parr (right) also cites himself as a Director of Revive Landscapes.

After getting his landscape business ‘in a place (he) had longed for‘, Parr claims he ‘turned to the online space of crypto currencies‘.

Prior to launching Power Mine Technologies Parr was promoting the Berlin Group Recycle Bot and iCenter Ponzi schemes.

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

A court transcript has provided the clearest picture of the ongoing international investigation into OneCoin yet. [Continue reading…]

iThrive Network provides no information on their website about who owns or runs the business.

The iThrive Network website domain (“ithrivenetwork.net”) was privately registered on June 4th, 2018.

From what I can gather iThrive Network is a reboot of the collapsed iPro Network scheme.

iPro Network launched in early 2017 and was attached to the ProCurrency altcoin (PROC).

iPro Network offloaded pre-generated PROC onto its affiliates, on the usual promises of riches.

On the MLM side of things, iPro Network paid commissions on recruitment of new affiliate investors.

In true MLM altcoin fashion PROC pumped upon its initial listing in late April 2017. PROC peaked at an all time high of 35 cents toward mid July.

This was followed by a sharp decline beginning August, with PROC currently trading at .06 cents (that’s 0.06 actual cents, not 6 cents).

By mid 2018 iPro Network itself had collapsed. In a desperate bid to keep the company going the association was PROC was abandoned (typical MLM altcoin exit-scam).

It was around this time that iThrive Network was announced.

Note that although iPro Network has been abandoned, for some reason the company’s website is still up.

In our March 2017 iPro Network review we noted Armando Contreras cited as CEO of the company.

Based on the lack of verifiable information provided on Contreras, we weren’t sure he actually existed.

We’re still not sure and iThrive Network’s website being devoid of executive information doesn’t inspire confidence.

A video titled “iThrive Launch Update 7-28-2018” was uploaded to the official iPro Network Vimeo channel on July 30th, 2018.

In the video Daniel Pacheco (right) is identified as “the president of the company”.

On his personal Facebook profile, Pacheco identifies himself as “President (organization) at iProNetwork”.

Pacheco appears to have been involved with iPro Network either from launch or from very early on.

Prior to iPro Network and iThrive Network, Pacheco was promoting the Lucrazon Global Ponzi scheme:

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…]

The BitinForex website provides no information about who owns or runs the business.

The BitinForex website domain (“bitinforex.com”) was privately registered on December 17th, 2018.

Through its business model (see compensation plan section below), BitinForex is inextricably linked to Top10Cap and CoinFinexx.

Top10Cap and CoinFinexx have their own websites, neither of which provides management or ownership information.

The Top10Cap and CoinFinexx website domains were privately registered on March 6th and December 3rd, 2018 respectively.

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…]

Tycoon69 bills itself as “the ICO network” and operates in the MLM cryptocurrency niche.

A corporate address for “Tycoon69” Switzerland is provided in the footer of the Tycoon69 website. The website however provides no information about who owns or runs the company.

That said, someone with possibly the worst possible haircut for an older gentleman I’ve ever seen features prominently in Tycoon69’s marketing videos.

Captain Bad Hair features in some other Tycoon69 marketing videos and I eventually identified him as Stefan Hostettler.

If Hostettler is an owner of Tycoon69 then he is a silent one. Beyond fronting Tycoon69’s marketing efforts, it is unclear whether Hostletter has an executive role within the company.

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…]

Faith Sloan, the last remaining TelexFree defendant, was scheduled to face trial on February 11th.

The SEC allege Sloan stole over a million dollars from TelexFree victims.

Unfortunately due to Donald Trump’s ongoing government shutdown, Sloan’s trial has now been delayed until the end of March. [Continue reading…]