David Wood found in contempt in WorldVentures’ Texas case
Following WorldVentures’ filing of a contempt motion on July 27th, David Wood has been found in contempt of court.
The August 8th case docket states that WorldVentures’ attorneys attended the hearing. David Wood failed to make an appearance. [Continue reading…]
MOBE processor QualPay ordered to return $6.3 million in stolen funds
A request from Qualpay to keep $6.3 million stolen from MOBE victims has been denied.
The TRO in place against MOBE requires all funds related to the fraudulent business be turned over.
Rather than hand over the $6.3 million it processed for MOBE, Qualpay instead sought an exemption from the TRO.
The processor argued that should be required to return the funds, it faced “imminent insolvency”.
Qualpay used Synovus Bank to hold the funds, who separately also filed for an exemption from the TRO.
Both Qualpay and Synovus’ respective motions were heard on July, with a decision denying both motions made earlier today. [Continue reading…]
Five Winds & AGAM criminal investigations continue
Authorities in Russia and Kazakhstan are continuing to investigate the fallout of the collapsed Five Winds and Atlantic Global Asset Management Ponzi schemes. [Continue reading…]
Digital Altitude discovery contains “glaring omissions and inadequacies”
As of a Status Report filed by the FTC on August 7th, discovery provided by Digital Altitude, Michael Force and Mary Dee is riddled with “glaring omissions and inadequacies.” [Continue reading…]
Hodl Game Review: Nine-tier cryptocurrency Ponzi cycler
Hodl Game provides no information on its website about who owns or runs the business.
The Hodl Game website domain (“hodlgame.net”) was privately registered on July 13th, 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…]
AxeMediaTV Review: $39 a month pirated streams + recruitment
AxeMediaTV provides no information on their website about who owns or runs the business.
The AxeMediaTV website domain (“axemedia.tv”) was privately registered on May 3rd, 2018.
In their Privacy Policy and Terms of Service, AxeMediaTV provide a virtual office address in Las Vega, Nevada.
Update 13th August 2018 – Anthony Oxley is citing himself as CEO of AxeMediaTV on his LinkedIn profile;
As per his profile, Oxley is also CEO of Vicinity Ascent, a “modern, responsive real estate IDX & web solutions provider.”
Why this information isn’t provided on the AxeMediaTV website is unclear /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…]
Crypto BitClub Ponzi collapses, begs investors for more money
Crypto BitClub launched earlier this year on or around January.
The company was founded by Joe Yagudaev and Ramon Escalera, who last year launched the collapsed Crypto Bit Trade Ponzi scheme.
Crypto BitClub was basically a reload scam, touting a bitcoin mining and trading daily 1% ROI.
Like Crypto Bit Trade, no evidence of mining or trading was ever provided. Nor was Crypto BitClub registered to offer securities in any jurisdiction it operated in.
On the MLM side of things Crypto BitClub offered binary commissions of up to 30%.
Like most MLM cryptocurrency Ponzi schemes, Crypto BitClub stole a bunch of money from investors and then collapsed.
Now the company’s owners are begging for even more money. [Continue reading…]
BitConnect investor “detained, threatened and interrogated by the FBI”
Things are getting serious for BitConnect’s top promoters, as “Crypto Clover” found out upon returning to the US.
Crypto Clover (real name: Calen Powell), promoted BitConnect through his YouTube channel until it collapsed.
How much money Powell stole from BitConnect victims is unclear. Powell refers to himself as a “crypto nomad”, having sold most of his assets in the US earlier this year.
Powell travels across South East Asia, however he still returns to Seattle, Washington from time to time.
Powell’s latest visit home caught the attention of the FBI, suggesting there might be a federal BitConnect “person of interest” watchlist. [Continue reading…]
Activz Review: Cure-all for cancer, leukemia, arthritis and diabetes?
Despite having an “Our Team” section on their website, Activz only provides a photo of their management.
Further research reveals David Brown crediting himself as Chairman and CEO of Activz on his LinkedIn profile.
Brown (right) is also one of the executives featured in the “Our Team” Activz website photo.
As per Brown’s LinkedIn profile, he has MLM executive experience dating back to 1996.
- President, Natural Balance (1996 – 2000)
- President/CEO, Metabolife International (2000 – 2003)
- President/CEO, LifeVantage (2008 – 2013)
- CEO, Yevo (2014 – 2016)
Brown’s last company, Yevo, launched in 2014 with the aim of marketing dehydrated meals.
In 2016 Yevo shut down due to a “lack of success”. Activz launched in May, 2017.
Read on for a full review of the Activz MLM opportunity. [Continue reading…]
Lyoness reveals only 21% of Cashback World cards used in 2017
One of the common rebuttals we see to Lyoness’ Ponzi scheme is the cashback side of the business.
Originally offered through Lyoness itself, the cashback scheme was rebranded as CashBack World last year.
Following the Gaming Board’s decision to ban and then uphold Lyoness’ ban in Norway, the company has filed a second appeal.
In their second appeal, Lyoness reveals some interesting statistics regarding Cashback World card adoption and use. [Continue reading…]
