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

The TradeNetCoin website domain (“tradenetcoin.io”) was privately registered on December 22nd, 2017.

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…]

Cashbery launched about a year ago and name Artur Vardanyan (Артур Варданян) as Chairman of the Board.

According to Vardanyan’s corporate bio;

in the past (he) held position of the head of the credit department and the deputy chief of the economic security service in one of the largest Russian banks.

Multiple incorporation documents are provided on the Cashbery websites, mostly in Russian.

There is the token UK incorporation for “Cashbery Limited” though.

Vardanyan (right) is listed as Cashbery Limited’s sole Director, however he’s cited as a UK resident.

The address provided for Cashbery Limited and Vardanyan is a random serviced office address in London.

So if that’s any indication, the rest of the incorporation documents are meaningless.

UK incorporation is dirt cheap and for the most part unregulated. It is a favorite for scammers looking to incorporate dodgy companies.

Possibly due to language-barriers, I wasn’t able to verify any external information on Vardanyan.

He does appear to be an actual person though and appears (or whoever is portraying him) in multiple Cashbery promotional videos.

Taking into consideration the native language of the Cashbery website being Russian, all of the company social media accounts using Russian, Russia being the top source of traffic to the Cashbery website (56%, Alexa) and Russian incorporation documents provided, it’s highly likely that Cashbery is being operated from within Russia itself.

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

Back in February Russian authorities arrested Pavel Krymov at the behest of Kazakh authorities.

Krymov is believed to be behind the Questra World, Atlantic Global Asset Management, QW Lianora Swiss Consulting and Five Winds Ponzi schemes.

Following a hearing earlier this week, it has been confirmed Krymov will be extradited to Kazakhstan. [Continue reading…]

Frank Edward Calabro Jr., one of the USI-Tech Ponzi scheme’s top investors, is the subject of an ongoing investigation by North Carolina authorities.

In conjunction with a securities fraud cease and desist issued on March 8th, authorities raided Calabro Jr.’s Guilford County home on March 9th. [Continue reading…]

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

The CryptoBuzz Corporation website domain (“cryptobuzz.win”) was privately registered on January 25th, 2018.

CryptoBuzz Corporation provide an incorporation number on their website, which corresponds with “Investellect LTD”.

Investellect LTD was incorporated in the UK on March 10th, 2017.

Further research reveals Investellect was a Ponzi scheme that advertised daily 1% to 1.4% returns.

The Investellect website domain (“investellect.net”) has been suspended due to bogus domain registration details.

By all appearances, CryptoBuzz Corporation is a reboot of the Investellect scam.

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…]

Cooperative Crowdfunding provide no information on their website about who owns or runs the company.

Blog posts on the Cooperative Crowdfunding website are authored by “David T. Rosen”.

Further research reveals Cooperative Crowdfunding affiliates naming Rosen as founder of the company.

Rosen (right) is also listed as the owner of the Cooperative Crowdfunding website domain, through an address in Ontario, Canada.

Rosen first popped up on BehindMLM’s radar in 2015, as founder of PIE 24/7.

PIE 24/7 was basically a “pay a monthly fee and recruit other affiliates who do the same” scheme.

By early 2016 it appears PIE 24/7 collapsed, with one affiliate claiming they hadn’t been paid for 7 months as of April.

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

Following on from a USFIA victim claims process submission announced in late January, the submitted process received have received court-approval. [Continue reading…]

With the evident strength of the FTC’s case against Digital Altitude and granting of a preliminary injunction, it’s easy to assume defrauded consumers will receive redress.

In a March 12th message on the Digital Altitude Receivership website however, the Receiver reminds that that’s not necessarily the case. [Continue reading…]

Details of what went down at the Digital Altitude preliminary injunction have been published.

The Civil Minutes for the hearing cover testimony from Michael Force, Mary Dee and Thomas Seaman, the court-appointed Receiver. [Continue reading…]

BitClub Advantage (not to be confused with BitClub Network), provide no information on their website about who owns or runs the business.

The BitClub Advantage website domain (“bitclubadvantage.academy”) was privately registered on July 28th, 2017.

The BitClub Advantage confidentiality and NDA form states:

The Central Forum of the District of São Paulo, São Paulo, is hereby elected to resolve any conflicts arising from this agreement, to the exclusion of any other, no matter how privileged it may be or become.

São Paulo is a city in Brazil.

Further research reveals BitClub Advantage affiliates naming Alex Pereira Salles as CEO of the company.

Salles (right) is a Brazilian national and assumed to be residing in São Paulo.

There’s a distinct lack of information on Salles with respect to BitClub Advantage and the MLM industry in general.

I’m flagging this as suspicious in that Alex Pereira Salles might be a pseudonym.

Note that the individual in the photo above does appear to be connected BitClub Advantage. I was able to tie him to the company across various social media platforms through third-party sources.

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…]