Zukul Trader Review: Zukul to reboot as crypto trading scheme
Zukul launched in 2014 and is headed up by co-founders Jeremy Rush and Michael Bloom.
BehindMLM first reviewed Zukul in 2016, finding its business model to be that of a subscription-based pyramid scheme.
When that flopped Zukul reinvented itself as an adcredit “revenue sharing” Ponzi scheme.
When that flopped Zukul reinvented itself as Zukul Gold, which fed Zukul affiliates into Jeremy Rush’s Eagle Aurum Team cycler Ponzi downline.
Zukul Gold was short-lived and also eventually collapsed.
As Zukul affiliate losses mounted, Jeremy Rush (right) threatened to sue anyone who publicly criticized him or the company.
Things were pretty quiet over at Zukul throughout 2017.
No doubt watching the rest of the MLM underbelly embrace cryptocurrency fraud, it seems now Rush and Bloom want their share of the pie.
Rumblings of Zukul Trader began about a month ago…
Read on for a full review of the Zukul Trader MLM opportunity. [Continue reading…]
4300% annual ROI touted through Ormeus Global ORME investment
Whereas the cryptocurrency market has more or less been in a slump since January, Ormeus Global’s ORME altcoin is currently pumping.
This isn’t that unusual, as MLM altcoins can be insulated from natural market activity via new investment tied to new affiliate recruitment.
What’s disturbing however is how affiliates are using ORME’s current value to market the Ormeus Global MLM opportunity. [Continue reading…]
Zeek Receiver wins VictoriaBank appeal, $13.1 mill clawback resumes
The Zeek Rewards Receiver is one step closer to recovered $13.1 million in stolen investor funds, following the reversal of a District Court decision. [Continue reading…]
USI-Tech’s BTC Packages & Techcoin banned in Quebec, Canada
Following an internal investigation into USI-Tech, on February 23rd Quebec’s Autorité des marchés financiers (AMF) filed for a securities fraud cease and desist.
The cease and desist named USI-Tech and promoters Cris Vegas and Johanne Brunelle as respondents.
Facebook, LinkedIn, Meetup, Steemit, Evensi and Mazarine Trade Inc. were listed as additional parties involved. [Continue reading…]
Bitcoiin collapses, admins do a runner after $75 million B2G ICO
A week after BehindMLM reported Bitcoiin was continuing to violate a securities fraud cease and desist, the company has collapsed.
Over $75 million is believed to have been invested during Bitcoiin’s ICO, which was scheduled to wrap up on March 30th.
Instead, Bitcoiin’s anonymous admins have pulled the plug early and done a runner with everyone’s money. [Continue reading…]
Will the UK ever regulate rampant Companies House registration fraud?
The level of MLM company registration fraud taking place in the UK is such that, whenever you see a Companies House certificate paraded about as proof of legitimacy, save yourself some time and just assume the company in question is a scam.
I can’t recall the last time I came across a legitimate MLM company for review incorporated in the UK, and it’s been this way for years.
The primary reason for this is that UK Companies House incorporation appears to be entirely unregulated.
Anyone from anywhere in the world can pay the £12 GBP fee and register online. Punch in whatever personal details you want and within minutes you’ll have an official looking certificate to provide gullible victims with.
Earlier this week Companies House published a press-release boasting of their “first ever successful prosecution for false company information”.
Sounds promising. But are we going to see actual registration regulation or is this a one-off? [Continue reading…]
MMM Global’s Sergey Mavrodi dead of a heart attack at 62
When I first learned of Sergey Mavrodi’s passing earlier today, my first reaction was “What is he pulling this time?”
Such has been the staying power of Mavrodi’s MMM Global since it first popped up in 2011.
Without a doubt MMM Global is one of, if not the most pervasive fraudulent schemes in MLM history. [Continue reading…]
Mintage Mining claim to be “pre-compliant” with SEC regulation
Mintage Mining is purportedly a partnership between David Childs (cited as owner of the company) and Darren Olayan, CEO of Nui.
BehindMLM reviewed Mintage Mining last December. We came to the conclusion that, at best the cloud mining business model would constitute a securities offering.
The lack of registration with the SEC at the time meant that, at worst, Mintage Mining could be recycling newly invested funds to pay off existing investors.
Likely due to the increasing number of issued cryptocurrency securities fraud cease and desists, Darren Olayan has attempted to brush off regulatory compliance by claiming Mintage Mining is “pre-compliant” with the SEC. [Continue reading…]
Kannaway accused of “illegal pyramid sales” of cannabis oil in Belgium
We’re a bit late to this one, but earlier this month Kannaway was accused of illegally selling cannabis oil in Belgium.
A March 19th report in Het Laatste Nieuws (HLN), Belgium’s top newspaper, accuses Kannaway affiliates of illegally selling cannabis oil.
HLN goes on to call out predatory marketing practices that target “severely ill patients”, as well as Kannaway’s “pyramid sales” business model. [Continue reading…]
FTC vs. Dluca, Gatto, Pinkston & Chandler close to prelim injunction
Back in February the FTC sued serial MLM scam promoters Thomas Dluca, Louis Gatto, Eric Pinkston and Scott Chandler.
On March 12th an ex-parte Temporary Restraining Order was granted, freezing Dluca, Louis, Pinkston and Chandler’s assets.
On March 21st a “show cause” hearing was held, giving the defendants an opportunity to argue why a preliminary injunction shouldn’t be entered against them.
Despite all four defendants being made aware of the hearing, none of them showed. [Continue reading…]
