A common trait of multi-million dollar Ponzi schemes is a lack of independent accounting on the backend.

Records are stored higgledy-piggledy and often riddled with errors and/or incomplete.

Traffic Monsoon is no exception, with the Receivership currently sifting through millions of transaction records in an attempt to forensically piece together the business.

While circumstances might change in the future, at this time the Receiver has determined, based on the sheer amount of data being processed, that Traffic Monsoon victims won’t be submitting written claims. [Continue reading…]

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

UK Companies House incorporation documents are provided on the Control Finance website, showing an incorporation date of September 8th, 2016.

The Control Finance corporate address provided belongs to Bruntwood, who sell virtual office space. As such it appears Control Finance exists in the UK in name only.

The sole Director of the company is Benjamin Reynolds, who is also the listed owner of the Control Finance website domain (registered September 6th, 2016).

Control Finance marketing videos on the company website feature a speaker with a distinct Eastern European accent. In the videos the speaker reads marketing copy present on the Control Finance website.

The man doesn’t identify himself but probably isn’t Benjamin Reynolds (Fivver gig?).

It’s pretty obvious Control Finance has no physical operations in the UK, as well as Benjamin Reynolds likely also not existing.

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…]

D&L Goodybag was co-founded by David Ogunshola and his wife Bukola in August, 2014.

The company operates out of Nigeria and is a

subsidiary of Daveshoope Goodybag LTD, a Company registered with the Corporate Affairs Commission with RC number 1416418.

On his Facebook profile, Ogunshola (right) claims he

help(s) people discover where they fit in God’s Mission.

I am a Mobilizer & BAM Entrepreneur.

Whether Ogunshola has any MLM experience prior to D&L Goodybag is unclear.

Read on for a full review of the D&L Goodybag MLM opportunity. [Continue reading…]

Connie Apostelos used her share of funds stolen through Genesis Acquisitions to fund $35,000 a month in expenses for her horse racing company. She also had a $400 a month Victoria’s Secret lingerie habit.

Connie and her husband William ran the $70 million dollar WMI Enterprises Ponzi scheme. WMI Enterprises was made up of a number of companies, one of which was Genesis Acquisitions. [Continue reading…]

Despite promises to continue running the scam on Facebook, authorities are closing in on D9 Clube in Brazil.

Following a six month investigation, Brazilian police launched operation Giza on Thursday morning.

Operation Giza saw search warrants issued and raids conducted at ten different locations. [Continue reading…]

When David Wood last appeared in public, the situation appeared rather grim.

Obviously under the influence of something, Wood appeared disheveled and suffering from an acute case of “God complex”.

That was early June. Less than a fortnight later Wood’s brother William walked out and since then things have been quiet.

With the future of Empower Network hanging in the balance, today Wood appeared in a new video to explain what exactly went down.

Turns out it was some “plant medicine” and amphetamines… [Continue reading…]

Spey Invest claim it was

set up in 2014 as the pilot online project of trading business by a group of enthusiasts headed by Daniil Solopov.

Despite the relatively young age of the Company, SPEY INVEST LTD has become well known to field-specific experts in Great Britain and also abroad as soon as one and a half years of its activity.

Two things;

First is that you probably don’t know anyone who has ever heard of Spey Invest. In fact, outside of the company’s own website, affiliate marketing and listings on HYIP scam sites, there is no independent third-party information about Spey Invest available.

The second is that the Spey Invest was only registered a few months ago on March 16th?

A “well-known company set up in 2014?” Yeah, no worries guys.

As for Daniil Solopov, there’s Facebook and LinedIn profiles set up – but nothing concrete verifying him as an actual person.

The Facebook profile has some random photos on it but no actual content dating back to when it was created in 2014. This is more in line with a purchased profile than one that was legitimately used and created.

Solopov’s LinkedIn profile cites stints with Russian HNW Investors and Mark Davies & Associates Ltd. He’s also apparently co-founder of Florify, a “trendsetting online floral platform”.

Solopov owns the Florify website domain (.co.uk), through a residential address in London. The Florify domain registration was last updated on May 2nd, 2017, suggesting that’s when Solopov acquired it.

Oh and there’s nothing about Solopov’s experience in the MLM industry.

And then of course there’s the fact that the image used to represent Solopov on the Spey Invest website is a stock photo (credit):

All the crafty buggers did was flip the image left-right and photoshop in the Spey Invest logo.

And if you’re wondering why the signature at the bottom of Solopov’s Spey Invest bio looks nothing like his name, that’s because it’s stolen from a Russian signature generator site:

I don’t know exactly what they typed to get the Solopov signature, but I got it pretty close with “Daniil Conf”.

The signature site being in Russian and corporate webinars in Russian strongly suggest this is all the work of Russian scammers.

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…]

According to a FAQ published on the Hyten Global website, the company is a “transition” from HopRocket.

From what I’ve been able to ascertain, the transition from HopRocket to Hyten Global took place on or around December, 2016.

The Hyten Global website domain (“hytenglobal.com”) was privately registered on October 14th, 2016.

HopRocket itself was launched in 2015 as a spinoff of the failed JM Ocean Avenue venture.

Whereas HopRocket provided no information about company ownership on its website, Hyten Global names Tim Richerson (CEO), Tuffy Baum (President) and David Price (International President) as co-founders of the company.

Conspicuously absent is Fred Ninow, one of the key players and co-founders of HopRocket.

Marketing material suggests Ninow was still part of HopRocket up until late 2016. Whether he’s involved in Hyten Global is unclear.

In a Hyten Global marketing video circa December, 2016, Richerson (right) stated

We knew through our research that nine out of ten people dream of traveling the world.

So based on that we created the absolute best travel product and booking engine in the industry.

But we also knew that there’d come a day that to have a complete lifestyle company, we would need other components.

So I’m here to talk to you about those other components that we’re going to offer.

Introducing: Hyten Global.

Tim Richerson’s Hyten Global corporate bio credits him with

30+ years of vast and varied experience that comprises consumer, financial and web based companies both in the public and private sector.

Prior experience includes: Member of the Young Presidents Organization, Chief Executive Officer of Interleukin Genetics, (at the time majority owned by a multinational direct sales company), Member of the Alan James Group (sold to Interleukin Genetics), President of Rexall Sundown, Inc. (a NASDAQ listed company sold to Royal Numico for $1.8 billion USD), Member of the Numico North American Executive Management Committee and Associate Advisory Board Member of the National Association of Drug Stores.

All three Hyten Global co-founders were HopRocket executives.

Prior to launching HopRocket, Tim Richerson’s and Tuffy Baum’s departed JM Ocean Avenue under controversial circumstances.

David Price served as COO of HopRocket and still cites the position as current on his LinkedIn profile.

Today the HopRocket website domain redirects to that of Hyten Global.

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

Citing the ongoing receival of ‘many tips and questions from the public asking if Lyoness is a pyramid scheme‘, the Norwegian Gaming Board has provided an update on their current investigation. [Continue reading…]

A decision to grant VictoriaBank a Motion to Dismiss back in May potentially placed $13.1 million dollars of stolen Zeek Rewards investor funds on the line.

While the court granted VictoriaBank a dismissal, it maintained a freeze order pending conclusion of the Receiver’s anticipated appeal.

The Receiver did indeed file an appeal, which will and slowly play out and reexamine the case in the Fourth Circuit.

In the meantime VictoriaBank filed a motion seeking to vacate the original freeze order, granting them access to the disputed Ponzi funds.

The Receiver filed a response in opposition and a decision on the matter was made on July 12th. [Continue reading…]