Peru has grouped some of the top MLM Ponzi schemes doing the rounds and issued a collective consumer warning.

The warning was issued on September 9th by Superintendencia De Banca, Seguros & AFP (SBS), Peru’s top financial regulator. [Continue reading…]

Two days ago BehindMLM published a firstlook of the Crowdbridge Global MLM opportunity.

The company appears to be based out of Europe and is run by co-founders Hans Pasveer and Harald Ekker.

For Pasveer and Ekker’s respective MLM histories, please refer to our published Crowdbridge Global firstlook.

One key component missing from our firstlook was the CrowdBridge Global compensation plan, which I’ve since learnt has been made public.

After going over it I concluded I had enough to publish a full review of Crowdbridge Global.

The source material is Hungarian, which I’m not a native speaker of. Still, some of the presentation slides were in English and I’m familiar enough with MLM compensation plans to piece the rest together.

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

Last we checked in approximately $21 million was scheduled to be returned to WCM777 victims in February.

In the Receiver’s Fourteenth Interim Report, filed September 7th, we finally got confirmation payments went out as planned. [Continue reading…]

Up until recently BehindMLM was aware of and reported on two separate arrests of Chinese OneCoin affiliates.

The first arrests took place in April, 2016, around the time OneCoin intended to hold a “grand ceremony” event in Harbin (north China).

The event was quietly dropped following a raid on a OneCoin promotional event in Guandong and arrest of three affiliates in March.

The bust appeared to be of one of the larger Chinese OneCoin affiliate groups, with authorities in Guandong eventually recovering $45.7 million dollars.

Earlier this month news broke of another round of arrests, this time thirty-five OneCoin affiliates arrested, jailed and fined in Zhuzhou City, Hunan Province (north of Guandong).

In between these two busts was yet another investigation and arrest of Chinese OneCoin affiliates, previously unreported until a week ago. [Continue reading…]

A year ago Poland’s Ministry of Justice received a public enquiry regarding OneCoin.

The enquiry sought to establish whether OneCoin was potentially beaching Polish banking laws.

A subsequent investigation into OneCoin by the National Prosecutor’s Office uncovered potential breaches of “unfair market practices”.

The investigation findings were forwarded to the Office of Competition and Consumer Protection (UOKiK), who today announced the conclusion of their own investigation. [Continue reading…]

One of the last insider holdouts of the Zeek Rewards Ponzi scheme is Howard Kaplan.

Whereas pretty much everyone else who profited from the operation of Zeek Rewards has settled and been stripped of the fraudulently obtained funds they were paid, Kaplan is challenging the Receiver and heading to trial. [Continue reading…]

Last we checked in the SEC were seeking Final Judgment against TelexFree cofounder and President, James Merrill.

In a parallel criminal case Merrill was sentenced to six years prison back in March.

According to a filing by the Trustee in July, the SEC had also reached a stipulated settlement agreement with TelexFree’s CFO, Joseph Craft.

In a September 12th press-release, the SEC have confirmed approval for both settlements. [Continue reading…]

Crowdbridge Global first popped up on my radar a few months ago. At the time little to no information was available on the company, so I put a closer look on the backburner.

Since then some more information has surfaced. Not enough for a full Crowdbridge Global review, but enough for us to get a sense of the direction the company is headed. [Continue reading…]

Solis name Richard Eddison as CEO of the company and even provide a photo.

Beyond that however no specifics on Eddison or the company are provided.

The Solis “about” page is a bunch of vague marketing statements;

Our experts work in many countries: USA, South Africa, Belgium, Australia, India, etc. For decades, we have accumulated the production, purchase and sales channels.

We have the best gemologists and cutters that from untreated sapphires, rubies, emeralds, diamonds are creating something worthy of the crown and scepter of the rulers.

Our jewelry stones are worthy competitors to the stones from the exchanges Ramat Gan, Tel Aviv, London, Antwerp, Hong Kong, Toronto, Bombay.

Solis provide no evidence to back up any of their claims. Nor are the claims verifiable through a third-party source.

Considering how large and established the previous stone industry is, this is highly suspicious.

The Solis website domain (“solis.land”) was privately registered on April 18th, 2017.

Of note is the Solis affiliate rank “Rubin”, which is German for “Ruby”. The Emerald rank is represented by “Emarald”, which I believe is just a typo.

Other typos on the Solis website strongly suggest the admin isn’t a native English speaker;

WHAT ARE THE MINIMAL AND MAXIMAL SUMS THAT I CAN ORDER FOR WITHDRAWAL?

I’m going to go out on a limb here and suggest that Richard Eddison, as represented on the Solis website, likely doesn’t exist.

Whoever is actually running Solis is likely German and based out of Europe.

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…]

In what appears to be a response to the State Bank of Pakistan and Federal Investigation Agency announcing a crackdown on OneCoin, affiliates in Pakistan are claiming OneCoin has registered with the Pakistani SEC.

Just one small problem though… it hasn’t. [Continue reading…]