One of the lesser-known MLM Ponzi points schemes out there is Net Leaders.

Hitched to DasCoin and initially launched as Coin Leaders last year, Net Leaders is your typical Ponzi points scheme.

Net Leaders affiliates invest in DasCoin points on the typical “we’re gunna be the next bitcoin!” promises.

DasCoins to date are not publicly tradeable and are completely worthless outside of the Net Leaders MLM opportunity.

In what appears to be a blatant attempt at legitimacy by association, last week Net Leader affiliates began claiming future collaboration with the Maltese government. [Continue reading…]

BizNet operate in the forex and cryptocurrency MLM niche.

On the BizNet website Alexander Chebotarev (Technical Director) and Grigory Shemet (Marketing Director) are named co-founders of the company.

Other than referral by name in BizNet marketing material, no information on Chebotarev’s or Shemet’s MLM, forex or cryptocurrency trading histories exists.

The BizNet website domain (“biznet.pw”) was first registered on March 1st, 2016. The registration details were last updated on January 11th, 2017.

Grigoriy Shemet [sic] is listed as the owner, through an address in Saint Petersburg, Russia.

The BizNet website itself is hosted in Belize, an offshore tax-haven.

BizNet Group LLP was incorporated in the UK on March 20th, 2017.

Oleksandr Chebotarov and Grigory Shemet are listed as Directors. Chebotarov through an address in the Ukraine and Shemet the same domain registration address in Russia.

With BizNet having no physical business operations in the UK, it appears BizNet Group LLC is nothing more than a shell company.

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

Elcore Invest name Adam Klyaynkhaysler as “head” of the company.

No additional information on Klyaynkhaysler is provided, with his MLM history unclear.

It’s worth pointing out the name “Adam Klyaynkhaysler” appears only on the Elcore Invest website, which is highly suspicious.

The Elcore Invest website domain (“elcore-invest.com”) was privately registered on June 9th, 2017.

On its website, Elcore Invest claims to be registered in the Cayman Islands with a head office in Budapest, Hungary.

Although Elcore Invest claim the company and Adam Klyaynkhaysler are based out of Hungary, Alexa cite Russia as the largest source of traffic to the Elcore Invest website (47%).

Given the lack of information about Klyaynkhaysler provided, it’s highly likely that whoever is actually running Elcore Invest is based out of Russia.

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…]

Bitcoin5 provide no information on their website about who owns or runs the business.

The Bitcoin5 website domain (“bitcoin5.com”) was privately registered on March 28th, 2017.

A corporate address in Manchester, UK is provided on the Bitcoin5 website. Further research however reveals this address is actually virtual office space provided by Regus.

“Bitcoin 5 Limited” was incorporated in the UK on April 3rd, 2017.

Adam Bates is listed as the sole Director of the company, through a different residential address in Manchester.

Given the lack of information provided about Bates and the generic sounding nature of the name, it is highly likely that he doesn’t exist.

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 a (very) brief publication, Luxembourg’s Commission de Surveillance du Secteur Financier has issued a warning against OneCoin. [Continue reading…]

Specifics are sketchy at this stage, but on August 24th Pakistan’s City42 news reported a government crackdown on OneCoin.

City42’s report was picked up by the Pakistan blog Tech Juice, who provided a more English-friendly version of the announcement. [Continue reading…]

Earlier this month news broke that Trading Standards was cracking down on the illegal sale of Valentus products in the UK.

Trading Standards are an enforcement regulator who, among other things, regulate health and safety regulation in the UK.

On or around late July or early August, Valentus affiliate Charlotte Thompson received a visit from Trading Standards at her home.

The agents purportedly informed Thompson that Valentus wasn’t registered as an MLM opportunity in the UK, making sale of their products illegal.

Valentus to date have no publicly commented on the matter. Privately however Valentus have been holding webinars for their affiliates.

In one leaked webinar a member of Valentus corporate advises affiliates to ignore Trading Standards and continue to market Valentus products illegally. [Continue reading…]

Advduo claim to be part of Duo Business Limited, an “advertising and marketing management company”.

Duo Business Limited is owned by Samuel Sullivan an enthusiastic online marketer and an entrepreneur who has a lot of experience in managing marketing solutions.

No specific information about Sullivan is provided. There is also no third-party information linking Sullivan to either Advduo or Duo Business Limited.

Duo Business Limited was incorporated in the UK on July 17th, 2017. Samuel Director is listed as the sole Director of the company.

An address in London is provided, however this appears to belong to a supermarket.

It is unlikely Samuel Sullivan, as represented by Advduo and Duo Business Limited, actually exists.

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…]

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

Of note is the Freedom Dollar website is hosted on the Trinity Funnel System website.  The Trinity Funnel System website domain was privately registered on February 21st, 2017.

Trinity Funnel System appears to be a traffic exchange. Given Freedom Dollar appears to be running off the website domain itself, it seems whoever owns Trinity Funnel System likely also owns Freedom Dollar.

Other than claiming to be part of Trinity Marketing Group, who owns Trinity Funnel System is not disclosed on the company website.

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…]

SwisCoin launched in late 2015 and saw affiliates invest in “tokens” on the promise of a ROI.

SwisCoin’s business model also incorporated pyramid fraud, with existing affiliate investors paid to recruit new investors.

On August 21st authorities in the Ukraine announced the arrest of SwisCoin ringleaders and seizure of over $500,000. [Continue reading…]