Simply Blessed Global provide no information on their website about who owns or runs the business.

The Simply Blessed Global website domain (“simplyblessed.global”) was privately registered on March 19th, 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…]

An ongoing investigation into Detail MaxiNet has confirmed it operated as a Ponzi scheme.

Turkish authorities shut down Detail MaxiNet under suspicion of fraud about two weeks ago. [Continue reading…]

With OneCoin a laughing stock of cryptocurrency circles in larger countries, desperate investors hoping to recover losses are targeting smaller markets.

An emerging source of revenue for OneCoin investment is Samoa, but not if the Central Bank has anything to do with it. [Continue reading…]

Crypto Wealth Portfolio provide no information on their website about who owns or runs the business.

The Crypto Wealth Portfolio website domain (“cwpbitcoin.com”) was privately registered on February 7th, 2018.

A corporate address in Las Vegas, Nevada is provided on the Crypto Wealth Portfolio website.

Further research however reveals this address actually belongs to The Office Squad, a  virtual office services provider.

On January 24th, 2018, Jeff Crane incorporated Crypto Wealth Portfolio in Nevada.

Crane (right) cited a residential Utah address in the incorporation documents, which is presumably where he’s running Crypto Wealth Portfolio from.

Jeff Crane first appeared on BehindMLM as the admin of 4 Color Gold, a matrix-based pyramid scheme.

In 2014 Crane emerged again as the admin of CyberWealth 7, a combination of unregistered securities and pyramid recruitment.

Both schemes have long-since collapsed.

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

BitM8 claim to be a ‘Netherlands-based company involved in cryptocurrency trading and mining.‘

While the company’s website is hosted in Netherlands, BitM8 provide no information about who owns or runs the company.

The BitM8 website domain (“bitm8.io”) was privately registered on March 8th, 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…]

Despite ignorance not being an excuse commit crime, it never seems to stop promoters of fraudulent schemes from trotting it out when caught.

The latest scammers to claim they knew nothing of the true nature of the scams they promoted are Scott Chandler, Louis Gatto and Eric Pinkston. [Continue reading…]

Following less than successful attempts reach out to USI-Tech victims in North Carolina, the Securities Division is broadening its appeal. [Continue reading…]

Cryptonomics Capital operate in the MLM cryptocurrency and appear to be based out of Russia.

The company provides a corporate address in California on their website, however further research reveals a number of virtual office providers operating from this address.

Heading up Cryptonomics Capital is founder Nikolay Evdokimov.

Evdokimov appears in a marketing video on the Cryptonomics Capital website wearing a sequined skull shirt and godfather rings:

Note the title of the video, hosted on the official Cryptonomics Capital YouTube channel, is mostly in Russian.

Pretty much all of the company’s marketing material is in Russian and as per Alexa, Russia is currently the top source of traffic to the Cryptonomics Capital website (31%).

According to his Cryptonomics Capital corporate bio, Evdokimov has ‘lots of experience in creating and developing innovative blockchain projects‘.

Evdokimov’s Twitter profile (“Nick Evdokimov”) cites his location as California in the US.

In 2015 Evdokimov placed 11th in a list of Russia’s “most successful young entrepreneurs”.

Nikolay started his activities in search engine optimization (SEO) during his studies at Faculty of Energetics in Moscow State Technical University of Bauman.

He got big success in 2008 – soon after its launch, his service Seopult became a leader in the SEO market and started bringing $500 000 per month.

Further, the revenue has been doubling on an annual basis. In 2013, last year, when Pult Group (the name of the holding that combines assets of Evdokimov and other shareholders at Seopult) was disclosing its financial indicators, the revenue increased by more than 80% and exceeded $50 mln.

Last year Seopult seemed to reach its ceiling – its growth has slowed down.

According to the latest data, the revenue of the service was around $53 mln adapted to the pre-crisis exchange rate, which means $30 mln with the current level of exchange rate.

I wasn’t able to tie Evdokimov to the MLM industry, suggesting Cryptonomics Capital is his first network marketing venture.

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

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

The RuneCoin website domain (“runecoin.co”) was privately registered on January 18th, 2018.

As at the time of publication Alexa estimate Russia is the only significant source of traffic to the RuneCoin website (18%).

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…]

The USFIA Receivership has published victim claim forms and proof of claim instructions. [Continue reading…]