Justin Verrengia was one of USI-Tech’s top US-based investors.

After USI-Tech collapsed in the US, Verrengia, who is based out of Florida, began scrubbing the internet of his association with the Ponzi scheme.

Most of Verrengia’s promotion of USI-Tech, primarily through his “Crypto Alchemy” Facebook group, has since been made private or deleted.

I did however find one Nigerian USI-Tech affiliate claiming Verrengia

is the highest earner in usi-tech, he made about 51 BTC in just 72 days. Yes, I said 52 BTC.

I have known Justin for a while in other business online so this result is typical of him.

The video description of a deleted video, in which Verrengia and Mike Hobbs explain USI-Tech’s Ponzi scheme business model, reads;

Mike Hobbs and Justin Verrengia were top leaders in another huge MLM company, and now they are making huge amounts of money in USI-Tech.

In this video, Mike and Justin explain the USI-Tech packages, how to buy them, how to get your first BitCoin, what and how USI-Tech pays, and how to reinvest your packages or withdraw them at the proper time.

A sales page for Verrengia’s Crypto Alchemy Facebook group states that viewers who provide their email address will gain access to a

FAST START training where Justin Verrengia shows you how he has made over $500k in 60 days with USI Tech!

Jeff Sherwood is a former USI-Tech investor from Tennessee.

A since-deleted post on Sherwood’s “Bitcoin Millionaire Journey” website suggests he got involved in USI-Tech in late December, 2017.

The place I began my research today was USI-Tech because I wanted to find out exactly what it is and how are they able to pay me back 140% on the Bitcoin I buy packages with.

I think that’s pretty neat!

When I was doing my research this question kept coming up under all of the search results: Is USI Tech a scam?

What I found from most of the people who are saying that USI-Tech is a scam or a ponzi scheme is they don’t actually know anything about the company and most of them are trying to promote scams themselves or have been unsuccessful with other money making opportunities so they just call everything a scam.

One thing that I have learned while building a successful online business is you have to listen to the right people.

For now, I’m off to try to buy more Bitcoin so I can buy more USI-Tech BTC Packages.

I’m going to stack as much Bitcoin as I can now, so that when the price goes up I’ll be sitting in a good position!

Evidently one of the “right people” Sherwood listened to was Justin Verrengia.

Unlike Verrengia, who made “huge amounts of money”, when USI-Tech collapsed in the US Sherwood lost money.

Realization of his losses and those he knew, eventually prompted Sherwood to start publishing videos on USI-Tech and promoters like Verrengia.

His efforts lead to a visit from three FBI agents. [Continue reading…]

BehindMLM recently reviewed RengaLife on April 13th.

While I didn’t personally come across any suspect marketing claims as part of my research, it has emerged RengaLife’s parent company, Redwood Scientific Technologies, is being investigated for suspected violations of the FTC Act. [Continue reading…]

Three months after its collapse, the Ontario Securities Commission has issued an investor warning against BitConnect. [Continue reading…]

In yet another example of the “scam people and play dumb when caught” defense not working, a preliminary injunction has been granted against Scott Chandler, Louis Gatto and Thomas Dluca.

The three defendants were sued by the FTC last month as top earners in the Bitcoin Funding Team, My7Network and JetCoin scams. [Continue reading…]

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

The EtherLink website domain was first registered on April 5th, 2015.

The domain registration details were last updated on April 5th, 2018, which is presumably when the domain’s new anonymous owner(s) took possession of it.

If you click the “whitepaper” link on the EtherLink website, you’re presented with a whitepaper for “LendConnect v.3.0”:

A visit to the LendConnect website reveals a March 19th “re-branding” announcement:

Investors,

Re-branding confirmed! All details will be released soon.

From this we can surmise EtherLink is a reboot of LendConnect.

LendConnect was an ICO lending Ponzi scheme launched in late 2017.

Having collapsed in March, it appears the company’s anonymous admin(s) are attempting to steal even more money with a reboot.

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

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

The AutoBTC Builder website domain (“autobtcbuilder.com”) was privately registered on July 14th, 2017.

A marketing video on the AutoBTC Builder website is hosted on a Vimeo account bearing the name “Gregory Aggesen”.

Further research reveals Aggesen confirming he is the owner of AutoBTC Builder on Facebook:

Aggesen’s Facebook history dates back to 2010, with promotion of the collapsed TVI Express pyramid scheme.

More recently Aggesen was linked to the twice collapsed JetCoin Ponzi scheme.

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

Despite management claiming to have ‘never had a problem in the USA and Canada‘, further evidence of USI-Tech’s non-compliance with US regulators continues to surface.

The latest is confirmation the company failed to respond to a North Carolina securities fraud cease and desist. [Continue reading…]

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

The Orion Token website domain (“oriontoken.com”) was privately registered on February 15th, 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…]

Exitus 500 appears to have surfaced in late 2017. It is the third reboot of the already twice collapsed Exitus Network gifting scam.

Exitus Network launched in 2014 as a six-tier gifting scheme.

By 2016 Exitus Network had collapsed, prompting owner Paul Stevenson (right) to reboot the scam as Exitus Elite.

Alexa traffic estimates show a sharp decline in activity throughout 2017.

By mid 2017 the situation was dire, prompting Stevenson to purportedly expunge a number of Exitus Elite participants.

It has been bought to my attention that a number of leaders/members are actively discouraging their existing team members NOT to renew their Exitus Elite membership as they have something better to offer.

The main reason…they know they cannot make any money themselves by you renewing your membership, BUT if they can shift you to a NEW deal, they will profit from you yet again.

This is literally taking money from the company and will not be tolerated.

This email is to inform you that I will be terminating the membership of a number of Exitus Elite leaders/members over the next 48 hours.

After a brief attempt to keep Exitus Elite by renaming it “Exitus Elite 2018”, it appears to have since been ditched entirely for Exitus 500.

Read on for a full review of the Exitus 500 MLM opportunity. [Continue reading…]

Tecademics launched in 2016 and pitched itself as a “college of internet marketing”.

Despite not being recognized as a college by any authoritative body, Tecademics charged up to $10,000 in “tuition fees” for two-year courses.

Less than two years from launch (meaning not one person had time to complete a $10,000 course), Tecademics has been sold off to an anonymous owner. [Continue reading…]