Trident Crypto Fund emerged in April 2018 as yet another MLM cryptocurrency Ponzi scheme.

Built around the recently launched TDC ICO, Trident Crypto Fund solicits investment in bitcoin on the promise of daily ROIs of up to 1% in TDC points.

Following an Operation Crypto-Sweep internal investigation, New Jersey has issued Trident Crypto Fund with a securities fraud cease and desist. [Continue reading…]

The North American Securities Administrators Association announced Operation Crypto-Sweep on Monday.

Through Operation Crypto-Sweep, NASAA has revealed seventy cryptocurrency company investigations.

NASAA members from more than 40 jurisdictions throughout North America participated in “Operation Cryptosweep,” which to date has resulted in nearly 70 inquiries and investigations and 35 pending or completed enforcement actions related to ICOs or cryptocurrencies since the beginning of May.

As above, around half of the investigations are completed or pending enforcement. [Continue reading…]

In addition to being a wanted fugitive on the run from money laundering charges in the US, Payza co-founder Firoz Patel is also in trouble with Canadian authorities. [Continue reading…]

On May 16th John Harris filed a lawsuit against Nerium International, Jeff and Renee Olson and several John Does.

In the proposed class-action suit, Harris argues that as Nerium affiliates (Brand Partners), he was in fact employed by the company.

Throughout the course of the alleged employment, Harris claims he and his fellow Nerium affiliates are ‘denied proper classification as to employee status, as required by California law‘. [Continue reading…]

Tradeco Global provide no information about who owns or runs the company on their website.

The Tradeco Global website domain (“tradecoglobal.com”) was privately registered on March 23rd, 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…]

NHT Global was launched in 2001 by founder Terry LaCore as Lexxus International.

NHT Global is a subsidiary of National health Trends Corp. and operates in the health, nutrition and personal care MLM niches.

Both companies are based out of California in the US.

Heading up NHT Global is President Chris Sharng (right).

As per Sharng’s National Health Trends Corp corporate bio;

Mr. Sharng was appointed President of NHTC in February 2007.

He previously served as Executive Vice President and CFO of NHTC from August 2004 to February 2007, and during that time he also performed functions of the principal executive officer.

Prior to NHTC, Mr. Sharng held management positions at NorthPole Limited as CFO, Ultrak Inc. as Senior Vice President and CFO, and Mattel, Inc. as Vice President of International Finance.

To the best of my knowledge NHT Global is Sharng’s first MLM venture.

In 2006 the SEC launched an investigation into NHT Global, then trading as Lexxus International.

No action against Lexxus International was taken. The SEC did however file a securities fraud civil enforcement action against its founder, Terry LaCore.

Lexxus International’s then President, Mark Woodburn, was also charged.

Following an internal audit investigation, LaCore and Woodburn resigned as Lexxus International executives in 2005.

In 2006 Lexxus International rebranded as NHT Global.

NHT Global did file its own lawsuit against LaCore, alleging ‘unlawful acts, including employee raiding, theft of confidential information and trade secrets, tortious interference and unfair competition‘, however that went nowhere after NHT Global decided to stop paying its lawyers.

In 2016 NHT Global was sued by shareholder plaintiffs Wang Juan and Manh Dao.

The class-action alleged violations of US securities law pertaining to

statements concerning NHTC’s business in China and compliance with Chinese laws, between March 6, 2015 and March 15, 2016.

Specifically, the complaint alleges that the defendants made false and/or misleading statements and/or failed to disclose that:

(1) the operations of Natural Health Trends’ Chinese entity is not in compliance with applicable Chinese laws; and

(2) as a result, the defendants’ statements about Natural Health Trends’ business, operations, and prospects, were false and misleading and/or lacked a reasonable basis at all relevant times.

In July 2017 NHT Global settled the lawsuit for $1.75 million dollars.

Read on for a full review of the NHT Global MLM opportunity. [Continue reading…]

Disturbing footage has emerged of MasBitcoin CEO Jorge Sanchez in what appears to be a bulletproof vest.

Visibly shaken and covered in blood, Sanchez reveals two of his bodyguards are dead and vows revenge. [Continue reading…]

Putting to shame the endless parade of warnings issued elsewhere in the world, Chinese authorities have made another 119 OneCoin related arrests.

Public court documents have also detailed the recovery of a large sum of money stolen from OneCoin victims, including $7.2 million stashed in a bank account belonging to Sebastian Greenwood. [Continue reading…]

In their published whitepaper, NasdaCoin identify John Baptist as co-founder of the company.

Baptist’s Facebook profile states he’s originally from Brazil but currently resides in Suriname, South America.

The other NasdaCoin co-founders are not named. Recent posts on Baptists’ Facebook profile however suggest they may be based out of Dubai and/or Thailand.

John Baptist (right) appears to have a long history within the MLM industry.

I was able to tie him to Jeunesse, as well as the DFRF Enterprises, Game Loot Network, SwissGolden and 4 Corners Alliance Group scams.

Baptist may also have invested in the iPro Network and BitConnect Ponzi schemes.

NasdaCoin marketing material cites Baptist as a “blockchain developer”. His executive role within the company is not disclosed.

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

In a May 14th press-release, Dubli (trading as Ominto) has announced it will voluntarily delist itself from the Nasdaq Capital Market.

The official reason for the voluntary delisting is ongoing non-compliance with regulatory filing requirements. [Continue reading…]