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

The PolyNetwork website domain (“polynetwork.org”) was privately registered on October 2nd, 2017.

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…]

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

The Home Block Coin website domain (“homeblockcoin.com”) was privately registered 19th October, 2017.

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…]

Despite assurances to the contrary, USI-Tech continues to run foul of securities regulation in Canada.

The latest is a cease and desist issued by the Financial and Consumer Affairs Authority of Saskatchewan (FCAA). [Continue reading…]

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

The Octoin website domain (“octoin.com”) was registered on June 28th, 2017.

Matt Blunt is listed as the owner, with an address in London, UK also provided.

Further research reveals the address provided belongs to Regus, who provide virtual office services.

A UK incorporation certificate for “Octoin Limited” is provided on the Octoin website.

Octoin Limited was incorporated on August 9th, 2017, using the same Regus address in the Octoin domain registration.

Matt Blunt is the sole Director listed for the company.

As represented by Octoin, “Matt Blunt” 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 evidenced by listed affiliate “leaders” on the Octoin website and Alexa traffic estimates (Indonesia 24%, China 16% and Japan 9%), Octoin is primarily marketed in across Asia.

There’s a good chance whoever is actually running Octoin is based out of Indonesia or China.

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…]

Vizionary launched in 2015 as a simple membership-based pyramid scheme.

Affiliates paid a fee and were paid to recruit others who did the same. The more paid in fees, the higher the income potential via Vizionary’s compensation plan.

Alexa traffic statistics for the Vizionary website reveal the company began to collapse around May, 2017.

This turned around in September, coinciding with a new direction for the company. [Continue reading…]

A week before it collapsed, Glenn Arcaro started scrubbing his social media profiles of any mention of BitConnect.

Arcaro also shut down his Future Money website, which was instrumental in promoting BitConnect and recruiting new investors.

After doing so Arcaro went into hiding and has not been seen or heard from in public since. He is believed to be hiding out somewhere in Europe.

BitConnect’s collapse meanwhile has resulted in a collapse of about $2.4 billion in market value, with real-world victim losses running into at least hundreds of millions of dollars.

Rather than face his victims, Arcaro is instead threatening those calling him out with legal action. [Continue reading…]

While it’s common for the rhetoric coming out of the MLM underbelly to be at odds with reality, the lenghts USI-Tech and the law firm Hart David Carson are going to misrepresent US authorities stance on securities is mind-boggling.

A few days ago USI-Tech co-founder Horst Jicha announced the company’s intention to defy regulators and reopen USI-Tech in the US.

In the same interview Jicha mentioned a “legal statement”, which he claimed “points out loud and clear that we never had an issue, we as a company, in terms of unlegal [sic] securities”.

Drafted by Hart David Carson, USI-Tech’s legal letter was provided to affiliates a few hours ago. [Continue reading…]

3T Networks operate in the cryptocurrency and travel MLM niches. The company provides two corporate addresses on its website, one in the US and one in Singapore.

The US address belongs to Nevada Registered Agent LLC, who provide incorporation services in Nevada. Whether 3T Networks has any physical business operations in the US is unclear.

The 3T Networks website suggests the company is primarily focused on Asia, with offices in the Philippines and Thailand “coming soon”.

Heading up 3T Networks is Chairman and CEO, Daniel Schwartz (right).

As per Schwartz’s 3T Networks corporate bio;

Dan has been a leader in Sales, Marketing and Business Development of companies in technology products and services since 1984.

He has been in Sales and Marketing Management since the late 1980s.

He has lead sales efforts over the past 5 years resulting in over $65M USD in closed business with a variety of customers large and small.

According to his Facebook profile, Schwartz lives in Thailand.

About six months ago Schwartz launched his own cryptocurrency, SigmaCoin.

After debuting with a public trading value of around 12 cents last September, SigmaCoin promptly collapsed before settling around its current 7 cent value.

A lack of content on SigmaCoin’s social media profiles and a decline in traffic to the company’s website suggest SigmaCoin has been abandoned.

I wasn’t able to verify an MLM history for Schwartz.

Read on for a full review of the 3T Networks MLM opportunity. [Continue reading…]

There’s been talk of a class-action lawsuit for a few days now, with one finally filed in the Southern District of Florida on January 24th.

In the fifty-page lawsuit, BitConnect victims Charles Wildes, Fransico Doria, Aric Harols, Akiva Katz, James Gurry and Ronald Nelson seek to recover $771,000 in losses.

They hope to do this via a class-action against defendants BitConnect and top investors Glenn Arcaro, Trevon Brown (aka Trevon James), Ryan Hildreth, Craig Grant and CryptoNick (John Doe No. 1). [Continue reading…]

Texas continues to lead US regulation against MLM cryptocurrency fraud, with the latest an emergency cease and desist filed against R2B Coin.

Filed on January 24th, Texas’ cease and desist cites R2B Coin as having a last known address in Hong Kong. [Continue reading…]