Munafa Network Marketing losses pegged at $86.8 million
Since our last update on Munafa Network Marketing in May, Pakistani authorities have arrested an addition thirty-four suspects.
As of May 2018, authorities had arrested five suspects. Further investigation has revealed Munafa Network Marketing was spearheaded by over 271 primary promoters. [Continue reading…]
Artius Club Review: Pointless app games and ad link spam
Artius Club provides no information on their website about who owns or runs the business.
The Artius Club website domain (“artiusclub.com”) was first registered in 2014. The domain registration details were last updated in September 2016.
Unfortunately the Artius Club website domain registration is private and provides no information about ownership.
On their website, Artius Club claims to be a “private enterprise … located in Santo Domingo, Dominican Republic”.
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…]
62 BitConnect facts from Craig Grant’s Glenn Arcaro data dump
Following on from our coverage two days ago of Craig Grant’s phonecall from the SEC, he’s since made some of evidence he provided to the SEC public.
In two separate videos Craig Grant has revealed detailed chat logs between himself, Glenn Arcaro and Trevon James.
The chat logs are from Facebook messenger and span early 2017 to December. It is not known whether these are the only chat logs Grant provided the SEC.
Having sat through the over two hours of footage Grant uploaded, I’ve categorized the more interesting tidbits into numbered bullets below. [Continue reading…]
Axxa Global Review: Cumin seed drink with pay to play autoship
Axxa Global appears to be headquartered in Singapore and operates in the health and wellness MLM niche.
Heading up Axxa Global is CEO Danny K. Pang.
According to Pang’s Axxa Global corporate bio, he has “more than 26 years of experience” in the MLM industry.
Danny’s network marketing career started in the United States of America twenty four years ago where it developed into a global network spanning across 22 countries with more than 100,000 distributors.
I wasn’t able to establish Pang’s MLM roots, however prior to Axxa Global he is commonly cited as a co-founder of Rain International (circa 2010).
Read on for a full review of the Axxa Global MLM opportunity. [Continue reading…]
Craig Grant receives BitConnect phone call from SEC
Top BitConnect promoter Craig Grant has confirmed he received a phone call from the SEC on September 26th. [Continue reading…]
Authorities move to seize $5.9M in Gain Bitcoin Ponzi assets
Indian authorities have filed for seizure of almost $6 million in property assets tied to the GainBitcoin and GB21 Ponzi schemes. [Continue reading…]
BitConnect securites fraud cease and desist issued in North Dakota
Having evidently taken their sweet time about it, the North Dakota Securities Division issued BitConnect a cease and desist on September 19th. [Continue reading…]
Crypto 300 Club Review: AdClick Xpress Ponzi reboot
Crypto 300 Club provides no information about who owns or runs the company on their website.
The Crypto 300 Club website domain (“crypto300club.com”) was privately registered on July 15th, 2018.
On their website, Crypto 300 Club claims to be “a licensed clone of Ad Click Xpress.”
AdClick Xpress is a $10 adpack Ponzi scheme, purportedly run by Frederick Mann of JSS Tripler, Profit Clicking, JustBeenPaid Ponzi fame.
Alexa traffic estimates for the AdClick Xpress website show a steady decline through 2018, which for a Ponzi scheme translates into a collapse.
Crypto 300 Club appears to have been launched in a desperate bid to keep AdClick Xpress afloat for however much longer.
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…]
Rockwall Investments Review: Crypto mining/trading/cycler Ponzi
Rockwall Investments operate in the MLM niche and claims to have gone into prelaunch last year.
Rockwall Investments website activity picked up in early May, with Alexa estimating the majority of traffic originates out of Poland (45%) and Australia (18%).
Rockwall Investments fails provide any specific details about who owns or runs the company.
Wiktor Zajączkowski and Rafał Krakowiak are cited as company co-owners, however no further information on these individuals is provided.
My first inclination was that Wiktor and Rafal were simply made up, however they do appear to be actual people:
The image on the right is taken from Rockwall Investments’ official Facebook page, from a post made on September 22nd.
The photo was purportedly taken at a “Crypto Future Expo in Warsaw” last weekend.
From this it’s pretty clear that Rockwall Investments is being operated out of Poland itself.
Prior to launching Rockwall Investments, Wiktor Zajączkowski and Rafał Krakowiak were promoting the Trade Coin Club and FutureNet Ponzi schemes.
Read on for a full review of the Rockwall Investments MLM opportunity. [Continue reading…]
$2.5M default judgment sought against Telex Mobile & TelexElectric
According to records prepared by disgraced accountant Joseph Craft, TelexFree transferred $500,870 to Telex Mobile and $2.02 million to TelexElectric between 2012 to 2014.
For all intents and purposes Telex Mobile and TelexElectric were shell companies owned by Carlos Wanzeler and James Merrill.
Arguing that neither company provided any services to TelexFree in exchange for the transfer of funds, the SEC has filed for default judgment. [Continue reading…]
