On March 1st, 2018, parent company Investview announced Wealth Generators was changing its name to Kuvera.

Wealth Generators began as a stock investment advice opportunity. In late 2017 the company began offering cryptocurrency mining contracts.

Wealth Generators affiliates invested up to $4999 in individual mining contracts, on the promise of an advertised 1200 day ROI.

Investview and Wealth Generators differed from your usual MLM unregistered securities offering, in that Investview is actually registered with the SEC.

Analysis of the company’s required regulatory filings as of December 2017 however, revealed no mention of Wealth Generators’ passive ROI crypto mining offering.

This lead me to conclude that, despite Investview being registered with the SEC, Wealth Generator’s “Crypto” cloud mining product was still an unregistered security.

Whether this had anything to do with Investview renaming Wealth Generators to Kuvera is unclear.

The Kuvera MLM opportunity has since been branded Kuvera Global. The service side of Kuvera operates as Kuvera Wealth.

Kuvera Global cite Ryan Smith as Founder and CEO of the company.

Ryan has over 20 years of experience in business management and in the financial markets.

Prior to founding Kuvera, Ryan co-founded a brokerage firm and eventually focused of teaching others how to trade in the markets successfully – literally bringing “Wall Street to Main Street.”

With roughly six months having passed since we examined the Wealth Generators securities question, today we take a look at where Kuvera Global is at. [Continue reading…]

Whenever we see a major regulatory bust, there’s always at least one individual or entity that believes the rules don’t apply to them.

For whatever reason, the concept of “funds obtained through illegitimate business activities don’t belong to you” doesn’t ring home.

Following the recent FTC shutdown of MOBE, Qualpay have stepped up and demanded an exemption from the TRO currently in place. [Continue reading…]

Hopes that Digital Altitude may be able to continue its business operations have been dashed, following a declaration by the court-appointed Receiver.

In his Second Interim Report, the Receiver bluntly states he

has not resumed operations, and has no plans to do so, as he has not determined a feasible means of resuming operations in a lawful and profitable manner.

This implies that Digital Altitude not operating as a pyramid scheme is not viable, strengthening the FTC’s case against the company. [Continue reading…]

Elamant launched in late 2017 and appear to operate out of Singapore through “Elamant PTE LTD”.

Elamant PTE LTD was incorporated in October 2017. A search of the Singapore address used for incorporation reveals multiple businesses using the same address.

This suggests Elamant might be using a virtual office service and thus exists in Singapore in name only.

Heading up Elamant is President and CEO, Ryan Evans.

Evans is based out of California in the US, which is likely where Elamant is actually being operated from.

Prior to Elamant Evans (right) was Operations Director for the Saivian Ponzi scheme.

Saivian affiliates invested $125 a month on the promise of a daily ROI of up to $3000.

ROI payments were tied to direct and affiliate recruitment, with the recycling of newly invested funds to pay existing investors constituting Ponzi fraud.

Attached to this was a receipt cashback scheme, through which Saivian claimed it was selling shopping data provided by its affiliates.

Saivian primarily duped investors in Asia. The scam came crashing down in mid 2017, following the arrest of several top investors in China.

Saivian’s US ownership and management remain at large. As at the time of publication, US authorities have failed to take action against any Saivian executives.

Preliminary analysis of Elamant strongly suggests it is essentially a clone of the Saivian Ponzi scheme.

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

251 Coins provides no information on its website about who owns or runs the business.

The 251 Coins website domain (“251coins.com”) was privately registered on May 16th, 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…]

Eyeline Trading claims Jean Paul Ramirez is the founder of Eyeline Business & Development.

Apparently Ramirez ‘has been a leader in the financial industry for many years’.

Eyeline Trading provide a bunch of financial positions Ramirez has purportedly held, culminating in his getting started ‘in the Crypto industry in late 2015‘.

Eyeline Trading claims Ramirez

now has a cutting edge mining facility, research center, wallet, exchange, peer to peer exchange, debit cards, trading platform, and a coin working on alternative power.

None of this is publicly verifiable, leaving a question mark on whether Ramirez even exists.

In a marketing video presented on the Eyeline Trading website, the company claims to be “based in Colombia” with a “marketing arm based in the USA”.

As at the time of publication, Eyeline Trading also claims to have offices in

• Ogden, Utah
• Salt Lake City, Utah
• Orange County, California
• Las Vegas, Nevada
• Medellin, Colombia
• San Salvador El Salvador
• Mexico City,  Mexico and “many more to come”

No evidence of any of Eyeline Trading’s claims with respect to its business operations are provided.

The Eyeline Trading website domain (“eyelinetrading.io”) was privately registered on June 8th, 2018.

Update 3rd July 2018 – A video has emerged in which serial scammer Rodney Burton introduces Dan Putnam as owner of the company.

Putnam first appeared on BehindMLM in 2012 as the owner of EPX Body.

Putnam has since gone on to launch numerous scams, including Let Us Close (2015),  The Elite Networker (2015), O2 Worldwide (2016), One80 and Modern Money Team.

Modern Money Team offered cryptocurrency mining investment ROIs, making Eyeline Trading Putnam’s second cryptocurrency related company launch.

In addition to neither Putnam or any of his companies being registered to offer securities in the US, Modern Money Team collapsed a few months after launch. /end update

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

JDE Jewels claim they ‘started customizing fine jewelry pieces in 1998‘.

The JDE Jewels website domain meanwhile was only registered in 2016.

Other than incorporation in the Philippines in 2014, to what extent JDE Jewels existed prior to 2016 is unclear.

Whatever operations might have existed though don’t seem to resemble JDE Jewels’ current MLM business model.

Daisy Seterra Estrada (right) is named as founder of the company on the JDE Jewels website. A corporate address in Quezon City, Philippines is also provided.

As per Estrada’s corporate bio, she’s

a graduate from DLSU with a Biology major and from the Ateneo Graduate School of Business with a Master’s Degree in Business Administration.

To what extent Estrada is involved in the day-to-day running of JDE Jewels is unclear. Posts on Estrada’s Facebook profile suggest she is currently chasing a career in television acting.

Update 25th June 2018 – Following publication of this review, Daisy Estrada has provided us with additional information about JDE Jewels’ history and operation.

Update 25th June 2018 – Within a few hours of this review going live, Daisy Estrada reached out to us with some additional info and clarifications.

JDE Jewelry started out as a small jewelry manufacturer way back in 1998 wherein all our sales were made within Quezon City.

We were just categorized as a sole proprietor and catered to just friends and family and their referrals.

I was just coming out of college and was focusing on getting work experience to enroll for an MBA degree, so we (my husband and I), put JDE at the back burner until we have the necessary experience to grow and develop the business.

After our corporate stint, having built our business experience and skills we decided to take JDE Jewelry to the next level and incorporated it in 2014.

Seeing the necessity of having an internet presence, we registered the domain in 2016.

This was after we had upgraded our workforce and equipment and applied for membership to the Guild of Philippine Jewelers.

I am involved in television and film as a freelance actor which also serves as an additional platform to promote our jewelry business.

I am however, involved in the day to day operations, managing our employees and dealing with customers.

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

Velimon provides no information on its website about who owns or runs the business.

The Velimon website domain (“velimon.racing”) was privately registered on March 25th, 2018.

A marketing video on the Velimon website features a man with a distinct African accent, suggesting whoever is behind Velimon likely also has ties to Africa.

At the time of publication, Alexa estimates that the US is the largest source of traffic to the Velimon website (30%).

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…]

BehindMLM first reported on an FBI investigation into BitConnect back in March, following confirmation from top-investor Trevon James.

Following the disappearance of BitConnect Director John Bigatton’s wife, authorities have confirmed the FBI investigation is ongoing. [Continue reading…]

The first thing visitors to the Taurise website are presented with is a poorly dubbed marketing video featuring “Robert Mackay” and “Rachel Davis”.

As this example shows, these are obviously actors with the set rented office space in who knows where.

The Taurise website domain was privately registered on February 26th, 2018.

Taurise do provide an incorporation certificate for “Taurise Limited”.

Taurise Limited was incorporated in the UK on February 27th, 2018.

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

For some reason Taurise also provide a patent certificate for some sort of cryptocurrency hardware miner.

The certificate appears to be bogus, with the actual 8,759,864 patent awarded in 2014 for an organic light-emitting element.

At the time of publication Alexa estimate Russia is the largest source of traffic to the Taurise website (14%).

Turkey is another possibility, with the Turkish word for “standard” appearing on the Taurise website in place of its English equivalent (“standart”).

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…]